Latest news with #economic ties
Yahoo
a day ago
- Business
- Yahoo
InvestHK to Deepen Economic Ties with Canadian Investors and Businesses
Hong Kong SAR--(Newsfile Corp. - June 11, 2025) - Associate Director-General of Investment Promotion at Invest Hong Kong (InvestHK) Mr Charles Ng will commence his duty visit to Canada from June 8 to 14 to deepen economic ties with Canadian investors and businesses. "Hong Kong and Canada have long shared a strong and mutually beneficial investment relationship. In 2023, Canada ranked eighth among the major sources of inward direct investment into Hong Kong, contributing over US$34 billion. At the same time, Hong Kong made outward direct investment of around US$10 billion to Canada, reflecting the deep economic ties and two-way confidence between our markets," Mr Ng said. "Hong Kong will continue to play its unique role as both a 'super connector' and a value creator, bridging traditional and emerging markets and unlocking new opportunities for Canadian businesses." During his visit to Waterloo, Toronto and Montreal, Mr Ng will meet with investors, family offices, multinationals, Canadian start-ups, academia and business leaders to explore new opportunities for collaboration and showcase Hong Kong's unique advantages as a launchpad for Asian expansion. Key discussions will focus on leveraging the city's strategic gateway position to Mainland China and its business-friendly environment for scaling operations. Mr Ng will host exclusive roundtables for entrepreneurs and Canada-Hong Kong ecosystem partners to highlight Hong Kong's strengths in wealth management and cross-border investment solutions. He will also participate in networking events to promote Hong Kong FinTech Week x StartmeupHK Festival 2025, inviting Canadian investors and entrepreneurs to visit Hong Kong November 3 to 7, engage with Asia's dynamic markets, and experience the opportunities Hong Kong offers firsthand. Hong Kong and Canada have established longstanding and strong ties across trade, investment, tourism, and cultural exchanges. This relationship was further strengthened by the Investment Promotion and Protection Agreement, which came into effect in September 2016, providing Canadian and Hong Kong investors with a transparent and secure environment to foster cross-border investment. In 2023, Canada ranked as Hong Kong's ninth largest services trading partner, with bilateral trade growing at an average annual rate of 2.2 per cent from 2019 to 2023. Hashtag: #InvestHK The issuer is solely responsible for the content of this announcement. Media Contact: To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
a day ago
- Business
- Zawya
InvestHK to deepen economic ties with Canadian investors and businesses
HONG KONG SAR - Media OutReach Newswire - 11 June 2025 - Associate Director-General of Investment Promotion at Invest Hong Kong (InvestHK) Mr Charles Ng will commence his duty visit to Canada from June 8 to 14 to deepen economic ties with Canadian investors and businesses. "Hong Kong and Canada have long shared a strong and mutually beneficial investment relationship. In 2023, Canada ranked eighth among the major sources of inward direct investment into Hong Kong, contributing over US$34 billion. At the same time, Hong Kong made outward direct investment of around US$10 billion to Canada, reflecting the deep economic ties and two-way confidence between our markets," Mr Ng said. "Hong Kong will continue to play its unique role as both a 'super connector' and a value creator, bridging traditional and emerging markets and unlocking new opportunities for Canadian businesses." During his visit to Waterloo, Toronto and Montreal, Mr Ng will meet with investors, family offices, multinationals, Canadian start-ups, academia and business leaders to explore new opportunities for collaboration and showcase Hong Kong's unique advantages as a launchpad for Asian expansion. Key discussions will focus on leveraging the city's strategic gateway position to Mainland China and its business-friendly environment for scaling operations. Mr Ng will host exclusive roundtables for entrepreneurs and Canada-Hong Kong ecosystem partners to highlight Hong Kong's strengths in wealth management and cross-border investment solutions. He will also participate in networking events to promote Hong Kong FinTech Week x StartmeupHK Festival 2025, inviting Canadian investors and entrepreneurs to visit Hong Kong November 3 to 7, engage with Asia's dynamic markets, and experience the opportunities Hong Kong offers firsthand. Hong Kong and Canada have established longstanding and strong ties across trade, investment, tourism, and cultural exchanges. This relationship was further strengthened by the Investment Promotion and Protection Agreement, which came into effect in September 2016, providing Canadian and Hong Kong investors with a transparent and secure environment to foster cross-border investment. In 2023, Canada ranked as Hong Kong's ninth largest services trading partner, with bilateral trade growing at an average annual rate of 2.2 per cent from 2019 to 2023. Hashtag: #InvestHK The issuer is solely responsible for the content of this announcement. InvestHK
Asharq Al-Awsat
2 days ago
- Business
- Asharq Al-Awsat
South Korean President Lee, Xi Pledge Closer Economic, Security Cooperation
South Korean President Lee Jae-myung and Chinese President Xi Jinping pledged on Tuesday to work for substantive advances in economic ties and peace and security on the Korean peninsula, Lee's office said. In their first phone call since Lee took office last week, the South Korean president told Xi he hoped the two countries would pursue a more active exchange and cooperation in the areas of economy, security and culture, his spokesperson said. "President Lee requested China to play a constructive role for the denuclearization of the Korean peninsula and peace and security," Kang Yu-jung told a briefing. "President Xi in response said the Chinese side would make efforts for the resolution of the issues ... as they are matters of common interest to the two countries," Kang said. Lee took office on June 4 after winning the presidency in a snap election called after the ouster of Yoon Suk Yeol over a failed martial law attempt in December. Lee has since spoken to US President Donald Trump and Japanese Prime Minister Shigeru Ishiba. Chinese state media earlier said Xi told Lee that the two countries should respect each other's core interests and major concerns, and ensure ties move forward "on the right track." A strategic cooperative partnership between both countries would bring more benefits to both and "inject more certainty into the chaotic regional and international situation," Xi was quoted as saying by state broadcaster CCTV. China is South Korea's biggest trading partner and diplomatic relations between the two have improved since a 2017 spat over South Korea's installation of a US missile defense system that Beijing opposed. While reiterating the importance of the US-South Korea alliance, Lee has also expressed more conciliatory plans for ties with China and North Korea, singling out the importance of China as a major trading partner while indicating a reluctance to take a firm stance on security tensions in the Taiwan Strait.
Arab News
13-05-2025
- Business
- Arab News
US-Saudi trade is on the cusp of a transformative shift
US President Donald Trump's visit to Saudi Arabia, along with stops in other Gulf Cooperation Council nations, is poised to further strengthen economic ties with the region. With Saudi Arabia standing as the Middle East's largest economy, the visit underscores the Kingdom's central role in regional and global trade. Trump's decision to select Saudi Arabia as the destination for his first foreign trip as president in 2017 — and to return again now in his second term — highlights the Kingdom's continued political and economic importance. It also reaffirms the enduring partnership between Saudi Arabia and the US, rooted in decades of strategic cooperation. The bilateral trade and investment relationship between the two nations dates back to 1933, when Saudi Arabia signed a concession agreement with Standard Oil of California, granting exploration rights that led to the historic discovery of oil at Dammam Well No. 7 in 1938. That discovery marked the birth of the Saudi oil era and laid the foundation for a robust, long-term partnership. According to the Office of the United States Trade Representative, total US goods trade with Saudi Arabia reached an estimated $25.9 billion in 2024. US goods exports to the Kingdom amounted to $13.2 billion, down 4.8 percent ($670.1 million) from 2023, while imports totaled $12.7 billion, reflecting a 19.9 percent decline from the previous year. Nevertheless, the US trade surplus with Saudi Arabia rose to $443.3 million in 2024, a 121.6 percent increase over 2023. Crown Prince Mohammed bin Salman's recent announcement of a $600 billion investment in the US marks a transformative step toward deepening bilateral economic ties. Given President Trump's earlier tariff policies — imposed even on long-standing allies in pursuit of what he called liberating the American economy — Saudi Arabia's position as a neutral party in those global trade tensions has elevated its image as a stable and reliable trade partner for the US. Looking forward, Saudi Arabia's Vision 2030 will play a critical role in expanding trade and investment between the two nations. The initiative places emphasis on diversifying the Saudi economy, with a specific focus on renewable energy, digital innovation, and high-tech industries. This shared vision was highlighted by a joint announcement on Sept. 8, 2023, when both governments signed a memorandum of understanding to collaborate on the creation of intercontinental green corridors, leveraging Saudi Arabia's unique geographic position as a bridge between Asia and Europe. In addition, bilateral defense ties remain strong. The US State Department's approval of a $3.5 billion sale of medium-range air-to-air missiles to Saudi Arabia will reinforce military cooperation and contribute to regional security while expanding defense trade. Trade between the two nations reflects flexibility and breadth. Saudi Arabia continues to be a key global supplier of crude oil, fertilizers, and organic chemicals, while the United States exports a wide array of goods, including electrical and mechanical equipment, pharmaceuticals, agricultural products, and industrial machinery. The US-Saudi economic relationship continues to evolve, anchored in a legacy of shared strategic interests and mutual economic benefit. Talat Zaki Hafiz The automotive sector remains the top US export to Saudi Arabia, reaching $2.8 billion in 2023 — a 32 percent year-on-year increase. Machinery, nuclear reactors, and related components accounted for $2.5 billion (18 percent of all US exports), a 38 percent rise from 2022. Aircraft and aircraft parts followed at $1.7 billion. In summary, the US-Saudi economic relationship continues to evolve, anchored in a legacy of shared strategic interests and mutual economic benefit. As Saudi Arabia advances toward its Vision 2030 goals — centered on sustainability, diversification, and innovation — it is actively shaping a future of expanded cooperation with the US. For Washington, Saudi Arabia remains a crucial partner. The Kingdom supplies essential resources such as crude oil, steel, and aluminum, which contribute to US energy security and support major industries including manufacturing, aerospace, automotive, and defense. These exports bolster American productivity and supply chain resilience. At the same time, US companies gain valuable access to a rapidly growing Saudi market, enriched by megaprojects and investments in infrastructure, technology, renewable energy, and manufacturing. Moreover, Saudi Arabia's strategic location as a logistics hub between Asia, Europe, and Africa enhances global trade connectivity, creating new opportunities for US exports and foreign investment. Through continued collaboration, strategic investment, and shared innovation, the US-Saudi partnership stands well-positioned to navigate a changing global economic landscape and deliver long-term, mutually beneficial outcomes for both nations.
