More work to be done as Hong Kong leader’s Mideast trip hints at better times ahead
- With many agreements signed, John Lee must ensure they are quickly followed up and then renew focus on traditional markets both near and far
Chief Executive John Lee Ka-chiu is well aware that he cannot return empty-handed from his high-profile visit to the Middle East. Having signed as many as 13 memorandums of understanding or letters of intent for cooperation with various bodies in Saudi Arabia and the United Arab Emirates, the Hong Kong leader hailed his week-long trip a success.
Fruitful as it seems, the agreements require follow-up work to achieve more concrete results. It is to be hoped that the city may continue to broaden and deepen ties with new regions while reinforcing its cooperation with traditional markets.
This is particularly important as it explores new areas of growth and development amid changing economic and geopolitical relations.
The Hong Kong delegation has seemingly managed to unlock a wealth of potential opportunities that previously escaped the city’s economic radar. In fact, the Gulf nations feature prominently in the Belt and Road Initiative, China’s plan to grow global trade.
The city may help as a facilitator and contributor under its unique governing model of “one country, two systems”. The deals cover a wide range of areas, such as innovation and technology, business, professional services and logistics.
While they open the door to further cooperation, they lack substance at this stage. The government has to seize the moment and flesh out the important details.