Hong Kong Financial Secretary Paul Chan has expressed a commitment to advancing a free trade agreement between Hong Kong and the Gulf Cooperation Council (GCC). Speaking at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland, Chan met with GCC Secretary-General Jasem Mohamed Albudaiwi to discuss enhancing bilateral trade cooperation.
Chan highlighted that the recent launch of the “Gulf Cooperation Council Chapter” at the Asian Financial Forum marked a milestone in deepening financial collaboration between Hong Kong and the Gulf states.
The Hong Kong government is focused on fostering two-way business exchanges, particularly in areas such as the digital economy, green transformation, securities markets, Islamic finance, and asset and wealth management.
During his visit, Chan also engaged with finance and business leaders from Europe, America, the Middle East, and Japan. He emphasized Hong Kong’s strengths as a “super connector” and a hub for creating value in global trade. Chan briefed attendees on the region’s economic progress, developments in the financial market, and efforts to attract businesses and talent.
In addition, he met with the chair of UK-based fintech company Revolut to discuss advancements in digital banking and encouraged the firm to expand its operations in Hong Kong.
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