HK businesses eye Middle East growth, but challenges remain
發佈日期: 2025-05-10 23:40
TVB News
Chief Executive John Lee has led trade delegations to the Middle East twice in a bid to tap into new markets amid ongoing China-U.S. trade tensions.
But some Hong Kong businessmen warn more preparation is needed to make inroads into the market because doing business there is no walk in the park.
Lee Kwok-ming is the chairman of Carmelton, a company making a range of hygiene products for over 30 years.
He was among the first Hong Kong businessmen to explore the Middle East market in the early 2000s.
Today, around 20 percent of his business spans across the six Gulf Cooperation Council nations, including Saudi Arabia and Kuwait. But he said it has taken much patience and effort.
Lee said it takes more than two or three meetings to secure a deal there.
He said they have showcased their merchandise at trade exhibitions for over 20 years and their Middle Eastern clients would fly over just to inspect their factories.
He said Middle Eastern buyers don't usually use agents when making deals, but most Hong Kong businesses have served as intermediaries. Their financial systems are very different from ours as well. Still, Lee noted sectors such as construction, professional services and jewellery have the potential to do well.
Having blazed a business trail in the Middle East too is Aaron Shum, who arrived in the region in 1978 in his 20s.
The founding president of the Hong Kong-Middle East Business Chamber said Hong Kong's role often lies in connecting Gulf investors with mainland China.
He said the possibility lies in Hong Kong's professional services to help boost legal certainty in contracts and auditing standards.
He noted mainland innotech and new energy sectors will attract strong interest from the Middle East.
Still, he reminds while the money's there, it won't come easy -- and Hong Kong businessmen have to build those relationships early.
Data from the Trade Development Council show the GCC nations were Hong Kong's 11th-largest trading partner in 2024, accounting for about 2 percent of its global trade.
Qatar ranked second among the GCC economies, with bilateral trade reaching 1.6 billion U.S. dollars last year.
