CE courts Kuwait's support for free trade deal
CE courts Kuwait's support for free trade deal
Chief Executive John Lee meets the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah. Photo: Information Services Department
Chief executive John Lee on Tuesday highlighted Hong Kong's intent to promote trade ties with its Belt and Road partners on the second leg of his Middle East tour in Kuwait.
Lee was hosted by the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, as well as Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah and Acting Prime Minister Sheikh Fahad Yusuf Saud Al-Sabah.
The CE told the Kuwaiti leaders that the SAR and Gulf Cooperation Council (GCC) countries share common visions and goals.
He called for closer cooperation between the two sides.
Noting that Kuwait is serving as GCC chair this year, Lee called for the Gulf nation's support as Hong Kong aims to strike a free trade agreement with other member states.
He also encouraged Kuwait's sovereign wealth fund to look for investment opportunities in Hong Kong.
After attending a roundtable conference with other Kuwaiti ministers, the chief executive paid a visit to Bukhamseen Group, a Kuwait-based conglomerate with stakes in hospitality, banking and finance.
He also visited a cultural centre fostering exchanges between the two regions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
12 hours ago
- South China Morning Post
World Cup: South Korea near qualification as Uzbekistan chase history
Son Heung-min and Lee Kang-in – fresh off European trophy wins – aim to lead South Korea to the World Cup, with four remaining automatic spots from Asia up for grabs. Japan and Iran have already sealed their berths at the tournament next year in the United States, Canada, and Mexico. South Korea are guaranteed to join them on Thursday if they avoid defeat against Iraq in Basra. Even if they lose, they will have another opportunity at home to Kuwait next Tuesday in Group B. South Korea and Spurs captain Son did not have his best club season, but the 32-year-old attacker finished it off by lifting the Europa League trophy. International teammate Lee collected a Champions League winner's medal with Paris Saint-Germain on Saturday after they thrashed Inter Milan 5-0 in Munich, although he remained on the bench for the final. Paris Saint-Germain's Lee Kang-in touches the Champions League trophy. Photo: Xinhua
South China Morning Post
15 hours ago
- South China Morning Post
No world-class swimming pool in Hong Kong any time soon
A new swimming arena capable of hosting world-class competition was unlikely to be built in Hong Kong any time soon, sources have told the Post, with officials deciding there was no room for a pool near Kai Tak Sports Park. Sung Wong Toi Park, a thin strip of land sandwiched between two major roads in Kowloon, had reportedly been considered for the project, but was later deemed 'not big enough' for an Olympic-sized facility. A government source said while they could build something there 'for what we wish to have, we are not entirely sure we can fit everything – spectator stands and other facilities – in it'. The source added: 'We couldn't quite visualise it happening there for now; maybe we could try squeezing everything in, but there's no conclusion yet.' Hong Kong's leader John Lee Ka-chiu had mentioned the construction of a new pool in each of his past two policy addresses, after local swimming star Siobhan Haughey amassed four medals – two silver and two bronze – at the past two Olympic Games in Tokyo and Paris. Siobhan Haughey in action during swimming world championships qualification in Hong Kong. Photo: Edmond SO Despite the fact that a location had not yet been identified, the source confirmed that a new swimming arena remained a priority for the government.
South China Morning Post
16 hours ago
- South China Morning Post
Asean-GCC-China partnership can kick-start shift away from US-centric trade
When the leaders of Asean, the Gulf Cooperation Council (GCC) and China gathered for an inaugural summit in Kuala Lumpur last week, it marked a historic convergence – the three economic powerhouses represent over 2 billion people and a combined economy of nearly US$25 trillion. Advertisement Emphasising deeper cooperation in trade, supply chains, infrastructure and finance, the summit's key areas of focus included green energy, the digital transformation, connectivity and sustainable agriculture to address climate change and food security. This trilateral partnership aligns with China's Belt and Road Initiative , leveraging the consumer markets of the Association of Southeast Asian Nations, the GCC's energy wealth and China's manufacturing and technological prowess. With Asean-China trade worth US$1 trillion and GCC-China trade of over US$288 billion last year, the summit underscored a collective ambition to foster regional stability and economic globalisation, with vast potential for trade expansion. It is also a transformative opportunity to reduce their reliance on the US market by diversifying supply chains and focusing on complementary strengths, enhanced connectivity, trade agreements and regional production in critical sectors. First, Asean's resources, the GCC's financial clout and China's manufacturing dominance constitute complementary strengths that can forge a robust supply chain ecosystem. Raw materials such as Indonesia's nickel and Malaysia's palm oil complement China's manufacturing capacity, while the GCC's sovereign wealth funds, worth a collective US$5 trillion, can finance critical projects. Advertisement Cooperation has begun. In April, the Qatar Investment Authority and sovereign wealth fund Danantara Indonesia announced a joint US$4 billion fund to invest in renewable energy, healthcare and technology in Indonesia. A practical model could see Asean supplying raw materials for China's electric vehicle battery production with GCC funding.
