Hong Kong, a key trade partner of the UAE, emphasized its strategic position as the primary gateway to the rapidly expanding Chinese market, offering swift, convenient, and secure access to the mainland for investors and businesses from the Emirates and other GCC nations through a comprehensive legal services platform.
Paul Lam Ting-kwok, secretary for justice of the Hong Kong Special Administrative Region, highlighted the region's role as a 'super connector' and 'super value-adder' between China and external countries, emphasizing the unique common law system's ability to provide high-quality, user-friendly, and dependable legal services to global investors. This facilitates exploration of business and investment opportunities not only in Hong Kong but across China.
In 2023, Hong Kong further solidified its position as a major trading partner for the UAE in the Middle East, with non-oil foreign trade value between the two surging from $9.4 billion in 2020 to $16.23 billion in 2022. Additionally, the two sides entered an agreement in 2019 to safeguard and promote cross-border investment. Hong Kong is also striving to position itself as an attractive hub for family offices from the Gulf region.
At a forum titled 'Hong Kong - The Common Law Gateway for UAE Businesses to China and Beyond' held in Dubai, Lam emphasized that Hong Kong has been designated as the international legal and dispute resolution services center under various critical national development plans of China. The forum was organized by the Department of Justice, the Hong Kong Trade Development Council (HKTDC), and the Hong Kong Economic and Trade Office in Dubai, with co-organization by the Dubai Chambers. Notable figures such as the Ambassador Extraordinary and Plenipotentiary of China to the UAE, Zhang Yiming, and the President and CEO of the Dubai Chambers, Mohammad Ali Rashed Lootah, delivered speeches at the event.
Lam met with Abdullah bin Sultan bin Awad Al Nuaimi, the Minister of Justice of the UAE, during the event to discuss mutual interests and explore opportunities for legal collaboration between the two regions. Emphasizing Hong Kong's role as a gateway to China, Lam expressed readiness to provide top-quality, user-friendly, and reliable legal services for businesses and investments across Hong Kong and China.
Lam also highlighted the comprehensive one-stop shop services offered by Hong Kong's common law system, covering aspects such as business establishment, investment, IPOs, dispute resolution, and termination of relationships, underscoring the unique advantages of the common law system in Hong Kong.
