(MENAFN - Khaleej Times) UAE is all set to boost its trade ties further with Hong Kong and benefit from its re-export hub, a senior official of the UAE Ministry of Economy said.
"Hong Kong and UAE share a historical trade relations with the trade touching 9 billion in 2012, recording 30 per cent growth over 2011. We expect this year a similar or more growth in 2013," Abdullah Ahmed Al Saleh, Undersecretary for Foreign Trade at the UAE Ministry of Economy, told Khaleej Times at Hong Kong Lifestyle Expo, which was inaugurated in Dubai on Wednesday.
"The UAE's trade policy enables the country to be a major trading hub for the region and that enables us to take advantage of Hong Kong's position as a major re-export hub in the world. Together when these hubs decide to join hands it can only culminate into more trade opportunities, helping UAE economy both locally as well as globally," he added.
He said UAE welcomes Hong Kong initiative to launch a platform in the UAE to promote its products that will benefit the companies in the UAE and Hong Kong besides providing total sourcing solutions from Asia.
"Over 60 selected companies from Hong Kong are presenting their products and are aiming to build business ties with the UAE."
On suggestions for Expo 2020, Saleh, said: "Hong Kong has experience and expertise on services sector, which accounts for 93 per cent of its GDP and we would like to benefit from them as the event will open large opportunities for boh the countries."
Raymond Yip, assistant executive director, Hong Kong Trade Development Council, or HKTDC, is mission leader for the maiden Hong Kong Lifestyle Expo in Dubai.
"Lifestyle expos are one of our signature global trade events. Over the years, we've held lifestyle product shows in Central Europe, in India, Indonesia and - our latest, less than a month ago - in Istanbul, Turkey. All have been very well-received by buyers and sellers alike. Confidence has clearly returned to Dubai and, with it, a wealth of business and investment opportunities. Dubai serves as the hub of the Middle East and the Gulf in much the same way as Hong Kong is Asia's central business district," he said.
The global marketing arm for Hong Kong-based manufacturers, traders and service providers is promoting Hong Kong's leading companies to showcase their trendy, stylish and quality products in the sectors of consumer electronics, electrical appliances, garments, textiles, fashion accessories, gifts, household products, watches and clocks as well as food and beverages.
The exhibition is also promoting 'The Small-Order Zone' that features a line-up of high-quality products, from electronics and houseware to gift products, available in orders of 50 to 1,000 pieces. The Small-Order Zone has earned the UFI Marketing Award for 2013, which recognises the initiative for helping buyers and exhibitors expand their business and remain competitive amid global economic uncertainty.