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UAE-HK trade surges 27pc to $2.86b
DUBAI - Driven by a remarkable export surge, Hong Kong's trade with the UAE, its largest trade partner in the Middle East, grew from $2.26 billion in 2002 to $2.86 billion, up 27 per cent, last year.
"Hong Kong's exports to the UAE rose nearly 27 per cent to $1.67 billion last year. In the first quarter of 2004 the total Hong Kong-UAE trade was to the tune of $971 million, reflecting the continued upswing," Ali Fakha, Marketing Manager of the Hong Kong Trade Development Council (HKTDC), said.
Trade between Hong Kong and the Middle East is also on a boom, and in 2003 the total regional trade was up by over 19 per cent at S$3.17 billion compared to $2.66 billion in 2002. "The growth continues into 2004 with the total trade during the first quarter from January-April 2004 exceeding $2 billion, out of which over $1 billion was exports from Hong Kong to the region, which is some 8.6 per cent more than the corresponding quarter in 2003," he said.
Buoyed by this upswing in the two-way trade, the Hong Kong Trade Development Council yesterday announced that it will stage a solo show with over 150 companies showcasing an array of consumer products at the upcoming 19th edition of the International Autumn Trade Fair 2004 (IATF 2004) at the Dubai International Exhibition Centre (DIEC) in December.
Fakha said the promotion, "Hong Kong in Style," will feature an array of stylish products ranging from electronics, gifts, timepieces and garments.
Welcoming the large participation of Hong Kong companies, Satish Khanna, General Manager of Al Fajer Information and Services, organisers of the show, said Hong Kong's decision to step up participation in IATF 2004, shows the great potential of the consumer goods trade in the region.
"IATF, over the years, has become the leading consumer goods fair in the region and the five-day expo this time is bigger than last year with over 650 companies from 25 countries expected to take part, 30 per cent up from last year's 507 exhibitors from 23 countries," Khanna said.
"The fair will be a buyer-selling meeting ground for the consumer goods segment featuring eight national pavilions occupying some 75 per cent of the exhibition area of 15,000 square metres," Khanna said.
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