Saudi Arabia-China Entrepreneurs Association signs MoU with Hong Kong Trade Development Council

• Agreement signed at the Belt and Road Summit to promote trade and business between the two regions
• Middle East delegation outlines market and growth opportunities in the Kingdom and beyond

HONG KONG SAR – Media OutReach – September 16, 2023 – The Saudi-Chinese Entrepreneurs Association has signed a Memorandum of Understanding (MoU) with the Hong Kong Trade Development Council (“HKTDC”) to promote trade and business between Hong Kong and Saudi Arabia. The MoU was signed at the eighth Belt and Road Summit on the 13th^th September 2023, jointly organized by the Hong Kong Special Administrative Region Government and the HKTDC. Themed “Ten Years of Cooperation for Mutual Benefit”, the summit lasted two days and attracted nearly 6,000 government officials, business leaders and entrepreneurs from nearly 70 countries and regions. More than 100 delegations from overseas and mainland China participated in various activities of the summit.

This year’s summit explored opportunities in emerging markets under the Belt and Road Initiative, particularly markets in the Middle East and Southeast Asia. In his opening speech, Mr. John Lee, Director-General of the Hong Kong Special Administrative Region, expressed confidence in the potential of the Association of Southeast Asian Nations (ASEAN) and the regions from the Middle-East. Since the full implementation of customs clearance this year, he has led business and professional delegations to visit these two regions twice, resulting in fruitful results. Li cited his visit to the Middle East in February as an example, highlighting substantial achievements such as Hong Kong companies supplying hydrogen cars and refueling stations, offering energy-saving and environmental services and planning cooperative enterprises in the hospitality industry. These achievements reflect the diverse business opportunities in the Middle East.

Middle Eastern countries are key partners of the Belt and Road Initiative, offering vast cooperation opportunities and potential for economic, trade and infrastructure development with China. Focused on new opportunities, developments and collaborations offered by the Middle East market under the Belt and Road Initiative, this year’s summit boasts the largest number of guests from the Middle East of its history. Among them are notable figures such as Rania A. Al-Mashat, Minister of International Cooperation of the Arab Republic of Egypt, and Abdulla Bin Touq AlMarri, Minister of Economy of the United Arab Emirates, as well as several companies from the Middle -East.

During the session’s panel discussion on the Middle East, Jerry Li, Founding Partner of eWTP Arabia Capital and Managing Director of the Saudi-China Entrepreneurs Association, remarked: “The Middle East and Hong Kong are full of potential for cooperation and mutual benefits. in the fields of finance, new energies and digital technology. The Middle East has set numerous development goals to realize its 2030 vision, while Hong Kong has world-class financial and technological talents, as well as industrial clusters. will not only diversify the Middle East economy, but also strengthen Hong Kong’s international influence and reshape its position as a global financial center. »

At the Belt and Road Summit, the Saudi Arabia-China Entrepreneurs Association (SCEA), a non-profit organization initiated by eWTP Arabia Capital to strengthen cooperation between the private sectors of Saudi Arabia and China , signed a memorandum of understanding (MoU) with the HKTDC. The MoU aims to strengthen trade and economic ties between Hong Kong and the Middle East regions, particularly start-ups and service providers looking to expand beyond their home countries.

Since its establishment, the China-Saudi Entrepreneurs Association (SCEA) has been committed to becoming a vital bridge between Hong Kong and the Middle East. In February this year, Director General Mr. John Lee visited the Middle East and expressed support for the establishment of the SCEA in Saudi Arabia. In July, SCEA officially announced the establishment of its first Asian office in Hong Kong and signed a memorandum of understanding to cooperate with 11 companies from mainland China and Hong Kong and facilitate their entry into the Saudi market. Additionally, SCEA helped facilitate the visit of His Excellency Engineer Abdullah Al-Swaha, Saudi Minister of Communications and Information Technology, to Hong Kong in July, thereby strengthening cooperation between the two sides.

Operated by SCEA, eWTP Arabia Capital has established in-depth partnerships with the Hong Kong Government, major financial institutions, industrial companies and technology innovation platforms in Hong Kong since the visit of the Managing Director, Mr. John Lee, to the Middle East in February. Supported by the HKTDC, eWTP Arabia Capital welcomed more than 100 partners from various sectors in Hong Kong, including real estate, finance, commerce, technological innovation and healthcare. Currently, eWTP Arabia Capital is actively facilitating the establishment of these institutions and the presence of these companies in Saudi Arabia.

eWTP Arabia Capital invited a delegation of Saudi companies to attend the Belt and Road Summit and present its products during the pitch sessions with the aim of facilitating connections with investors in Hong Kong. The delegation includes COFE, a company from Kuwait that offers an online marketplace for coffee lovers, Advanced Communications & Electronic Systems Company (ACES), a digital infrastructure company based in Saudi Arabia, and Navigator Consulting, a strategic consultancy based in Saudi Arabia. . They were represented by Ali Al Ebrahim, Founder and CEO of COFE, Akram Aburas, CEO and Founder of ACES, and Alfred Wang, CEO of Navigator Consulting.

Hashtag: #eWTPArabiaCapital

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