Hong Kong And Dubai To Strengthen Economic Ties
by Mary Swire, Tax-News.com, Hong Kong
05 February 2008

Dr Omar Bin Sulaiman, Governor of the Dubai International Financial Centre (DIFC) on Friday welcomed Sir Donald Tsang, Chief Executive of the Hong Kong Special Administrative Region of China, along with a 24 member delegation from Hong Kong. The visit to Dubai aimed to further strengthen political and economic ties between the two financial hubs.
“It is with great pleasure that we welcome our friends from Hong Kong to the DIFC,” commented Nasser Al Shaali, Chief Executive Officer of the DIFC Authority.

“As a new global financial centre, we admire the achievements of Hong Kong in having established itself as an internationally recognised business hub. We look forward to developing and fortifying our relationship with the city, and we hope to learn from their example and be able to compare our regional accomplishments with their success in Asia, and indeed the world over,” he added.

Speaking at a luncheon co-organised with the Abu Dhabi Chamber of Commerce & Industry last week, Tsang called for greater business co-operation between Hong Kong and the wider United Arab Emirates.

The UAE is Hong Kong’s largest trading partner in the Middle East with bilateral trade worth USD3.4 billion in 2006.

“I believe we can build on that momentum,” he said, noting Hong Kong’s development of an Islamic finance market, plus its experience and expertise in infrastructure development.

During his UAE trip, Tsang also attended a breakfast meeting hosted by the Standard Chartered Bank, and called on UAE Minister of Economy, Sheikha Lubna K Al Qassimi, Minister for Foreign Affairs, Sheikh Abdallah Bin Zayid Al Nahyan, Abu Dhabi Investment Authority Managing Director, Sheikh Ahmad Bin Zayed Al Nahyan and Abu Dhabi’s Planning & Economy Department Head, Naser Ahmed Al Suwaidi.

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