Hong Kong and Kuwait: Partnering for Success

"We are here to better understand the opportunities of Kuwaiti business and investment. To explore how Hong Kong, Mainland China and Kuwait, working together, can create long-term mutual opportunities," Mr Lee told nearly 300 local business leaders attending a luncheon themed "Partnering for Success – Hong Kong as a 'Super Connector' and 'Super Value-Adder'".

At the luncheon, government departments, enterprises, and organisations from Hong Kong, Mainland China, and Kuwait exchanged and announced 24 memoranda of understanding (MOUs) and co-operation agreements, covering areas such as economy and trade, investment, financial services, technology, legal co-operation, cargo clearance and flow, aviation, post-secondary education and sports. These include a new MOU signed between the Airport Authority Hong Kong and Kuwait Airways, aimed at enhancing aviation connectivity between the two regions.

Mr Lee further announced that, from today (May 15) the United Arab Emirates will grant Hong Kong 30-day visa-free access, while Oman will extend its visa-free period from 10 to 14 days.

Hong Kong is exploring closer ties with the Gulf Cooperation Council (GCC), which includes Kuwait currently holding presidency. Mr Lee said the country wields significant influence in the region's development.

"Hong Kong's trade with the GCC last year reached nearly US$20 billion, up 53 per cent over the past four years. And that robust growth is underpinned by our mutual will to advance trade ties," Mr Lee said. "Indeed, our burgeoning trade and investment co-operation, I believe, could well add momentum to the possibility of a free trade agreement between Hong Kong and the GCC."

Earlier, (May 13) Mr Lee met with the Amir of the State of Kuwait, His Highness Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, Crown Prince His Highness Sheikh Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah, and Acting Prime Minister His Excellency Sheikh Fahad Yousuf Saud Al-Sabah, to exchange views on strengthening co-operation between Hong Kong and Kuwait including areas such as finance, trade, and innovation and technology.

Mr Lee highlighted that Hong Kong enjoys the advantage of connecting China with the world under the "one country, two systems" principle. He welcomed the Kuwaiti Government and enterprises to utilise Hong Kong's role as a "super connector" and "super value-adder" to explore new opportunities under the Belt and Road Initiative for mutual benefit.

The Chief Executive led delegation members on several company visits in Kuwait. These included Bukhamseen Group Holding Company, where he introduced Hong Kong's development opportunities and its highly internationalised and market-oriented business environment with its pool of professional services talent.

Mr Lee and the delegation also visited Zain Group, a major mobile telecommunications company, to learn about its business in innovative technologies and digital communications, and exchange views on topics such as drones, AI, and smart city development.

On the cultural front, Mr Lee toured the Sheikh Abdullah Al Salem Cultural Centre to learn about Kuwait's arts and culture projects and developments. He noted that both Hong Kong and Kuwait place importance on arts and culture development, and he said he looks forward to further deepening connections and co-operation in cultural exchanges between the two places.

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