Latest news with #WingcoLo
Daily Tribune
16-05-2025
- Business
- Daily Tribune
Bahrain Chamber receives delegation from Chinese Manufacturers' Association of Hong Kong
Second vice Chairman of the Bahrain Chamber, Mohammed Al Kooheji, received at the Chamber's premises yesterday a delegation from Chinese Manufacturers' Association (CMA) of Hong Kong, headed by its President , Dr Wingco Lo. Speaking at the meeting, Al Kooheji hailed the bilateral relation between Bahrain and Hong Kong, voicing pride in keenness of both sides on expanding and invigorating business relations to achieve mutual benefits. He touched pace on the role of the Bahran Chamber on Bahrain's economic landscape, noting the similarities between the Bahrain Chamber and CMA in advocating for the interest of member business owners, empowering them to grow their businesses by liaising them with potential business and investment partners. Dr Wingco Lo, thanked Al Kooheji, recalling the visit of Bahrain Chamber's delegation to Hong Kong in 2024 and its positive outcomes in enhancing ties between both sides. Dr Lo touched pace on the advantages of investing in Hong Kong, which serves as the gateway to mainland China and Asian countries. He also called the Bahraini business community to explore opportunities in Hong Kong. The meeting also touched pace on potential areas of cooperation between both sides, particularly in promising sectors including education, ICT, and fintech. Also present at the meeting were Oscar Chow, Honorary Consul of Bahrain to Hong Kong, and Bahrain Chamber's Executive Committee Member Ahmed Sabah Al Saloom, board member Yousif Salahuddin, and head of the Chamber's Industry and Energy Committee, Fareed Bader, and officials from Export Bahrain.
RTHK
08-05-2025
- Business
- RTHK
HK firms ready to fight trade turmoil: industry groups
HK firms ready to fight trade turmoil: industry groups Wingco Lo said Washington's volatile trade policies have eroded the trust that anchored a once solid relationship between Hong Kong and the US. Photo: RTHK Steve Chuang said trade tensions are nothing new for Hong Kong firms, citing the opening round of tariffs during the first Trump administration. Photo: RTHK Hong Kong firms are well-positioned to weather trade disruptions brought by US tariffs, with some already pivoting to emerging markets such as the Middle East and the Global South, according to two industrial groups. The Chinese Manufacturers' Association of Hong Kong, which represents more than 3,000 companies, said while the United States remains an important trading partner for the SAR, things have now become unpredictable. "Rising geopolitical risks and volatile trade policy have eroded much of the trust that once anchored this relationship," the association's president Wingco Lo told RTHK. "There's a clear pivot towards the emerging regions, including the Middle East and Global South, such as Asia, Africa and Latin America. "These markets are increasingly attractive, not only as a way to spread risk, but also to tap into rising consumer demand and more stable trade environments." Lo said Middle Eastern nations are also trying to diversify their economies and wean off their reliance on oil exports. "These countries are rolling out ambitious urban development projects, and Hong Kong's strength in urban planning, construction, (information and communications technology) and fintech makes us a natural partner," he said. Lo is among dozens of Hong Kong and mainland business leaders joining Chief Executive John Lee's delegation to Qatar and Kuwait this Saturday. Lo outlined areas where the SAR can shine in the Middle East. "As capital from the region looks for global investment opportunities, services like asset management, insurance, legal and compliance, which are areas where Hong Kong excels, are in greater demand than ever," he said. Steve Chuang, chairman of the Federation of Hong Kong Industries who is also on the delegation, said SAR firms have been looking for new markets since US President Donald Trump first took office in 2017. 'Asean [nations] have become the biggest trade partner to China, so that reduces our independence to the Western markets. And I think Hong Kong's business, they are really looking forward to build the new network. And the Middle East as a part of the Global South becomes critical because this market is a new emerging market,' he said. Chuang added Hong Kong and mainland enterprises should complement each other by utilising their unique strengths. "We play different roles. They (mainland firms) may be very good in technology, but we can offer them the right platform and to provide the financial services, we provide the legal services, we are very good in connecting to the world," he explained. "That can really reflect Hong Kong as a super connector and a super value adder."
