GULF-HK FINANCIAL TIES EXPLORED

The first-ever Gulf Cooperation Council (GCC) Chapter was successfully held at the Asian Financial Forum today to explore further collaboration between Hong Kong and the GCC countries in the financial services sector.

Secretary for Financial Services & the Treasury Christopher Hui and GCC Secretary-General Jasem Mohamed Albudaiwi gave keynote remarks at the GCC-dedicated session, followed by a panel discussion engaging government and business leaders from both Hong Kong and GCC countries.

Addressing the session, Mr Hui said that countries in the Middle East have been looking for new investment opportunities worldwide in recent years in light of the increasingly complex global landscape.

He pointed out that as an important hub connecting the Mainland, Asia and global capital markets, Hong Kong is definitely an ideal "super-connector" that can address the needs of GCC countries.

Moreover, Hong Kong has attained significant developments in green and sustainable finance over the years and is rising as an international green finance centre, which will also add value for GCC countries as they nurture new growth areas such as green energy.

The room for co-operation between Hong Kong and GCC countries in various fields of the financial services sector, such as securities market, Islamic finance and asset and wealth management, is also enormous, Mr Hui added.

Mr Albudaiwi also expressed optimism about the future of relations between the GCC and Hong Kong, emphasising the GCC's aspiration to enhance dialogue and co-operation to achieve mutual prosperity.

During the panel discussion, distinguished speakers from GCC countries and Hong Kong had a lively discussion on the current status of financial connections between the GCC and Hong Kong as well as emerging areas of financial co-operation and opportunities that have arisen.

Mr Hui said the Hong Kong Special Administrative Region Government will continue to collaborate with the GCC Secretariat to co-organise mega events and explore concrete measures with a view to further strengthening financial market co-operation.

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