Qatar and Hong Kong have signed 35 memoranda of understanding in key sectors, including trade and investment, financial and legal services, and innovation and technology, in a bid to bolster bilateral ties, said the Chief Executive of the Hong Kong Special Administrative Region, John Lee.
The signing of the agreements took place during a three-day visit by a high-level business delegation of more than 50 business leaders from Hong Kong and mainland China, led by Lee, and organized by the Hong Kong Trade Development Council.
Hong Kong’s third-largest Middle East trading partner
During the visit, Lee emphasized the strength of the economic and trade relations between Qatar and Hong Kong, affirming a shared commitment to further strengthening cooperation in the commercial, financial and technological sectors.
He noted that Qatar is one of the world’s largest exporters of natural gas and a country with a thriving and diversified economy. He added that Qatar is currently Hong Kong’s third-largest trading partner in the Middle East, and that Hong Kong is eager to build upon this distinguished partnership.
Lee also pointed to the growth in trade volume between Qatar and Hong Kong, which reached $1.6 billion in 2024, with an annual growth rate of 2.6 percent between 2020 and 2024.
John Lee also revealed that the signing of 35 new MoUs with various entities and institutions in Qatar is aimed at enhancing economic cooperation between the two sides. He indicated that the MoUs signed will enhance cooperation in trade, the economy, investment promotion, tourism, technology and infrastructure, and will lead to the creation of more commercial partnerships between the two sides.
He added that the new MoUs cover a wide range of sectors, especially investment, technology and trade, as well as finance, banking, tourism and infrastructure. Lee also emphasized the importance of this step in supporting economic partnerships between the two sides and opening new doors for more bilateral projects, which will positively impact economic growth in both countries.
Qatar Chamber signs five MoUs with Hong Kong
During the meetings, Qatar Chamber signed five MoUs with the Hong Kong General Chamber of Commerce, the Federation of Hong Kong Industries, the Hong Kong Investment Authority, the Hong Kong Trade Development Council, and the Hong Kong Banking Association.
Additionally, the Qatar International Center for Conciliation and Arbitration (QICCA) signed an MoU with the Hong Kong Bar Association.
During the signing, Chairman of Qatar Chamber Sheikh Khalifa bin Jassim Al-Thani praised the strong and steadily growing relationship between Qatar and Hong Kong, which is built on mutual trust, shared economic goals and a joint commitment to creating new opportunities. He emphasized both sides’ interest in deepening cooperation across various sectors, with a particular focus on the private sector-especially in trade, investment, finance and smart industries.
“Trade exchange between the two sides witnessed a remarkable 70 percent growth, reaching QAR2.2 billion in 2024, compared to QAR1.3 billion in 2023,” he noted.
He also highlighted Qatar’s broader trade ties with China, stating that the total volume of trade between Qatar and the People’s Republic of China exceeded QAR80 billion in 2024, of which QAR62 billion represented exports-primarily natural gas and refined oil products.
Qatari Businessmen Association inks three deals
During the delegation’s visit, the Qatari Businessmen Association (QBA) signed three MoUs with Invest Hong Kong, the Hong Kong Trade and Development Council, and the Chinese Manufacturers’ Association of the Hong Kong Special Administrative Region of the People’s Republic of China.
These MoUs aim to enhance economic, trade and investment cooperation between the two sides and facilitate investment processes in both directions. QBA will work with the entities with which the MoUs were signed to identify specific economic sectors for joint efforts between the QBA and its Hong Kong counterparts, in a way that strengthens trade and economic ties.
Read: Saudi-U.S. Investment Forum kicks off as Trump lands in Riyadh
Invest Qatar partners with HKTDC
The Investment Promotion Agency Qatar (Invest Qatar) and the Hong Kong Trade Development Council (HKTDC) have also signed a Memorandum of Understanding to strengthen economic ties and promote bilateral trade and investment between the State of Qatar and Hong Kong. This collaboration establishes a framework for cooperation to enhance business opportunities and promote common interests in both regions.
The agreement outlines joint participation in trade fairs, investment conferences, workshops and other events that facilitate direct interactions between investors and businesses, showcasing potential opportunities in each market. It also emphasizes the importance of collaboration between businesses and entrepreneurs through trade missions, business forums and networking events to foster a robust exchange of knowledge that will benefit the development and prosperity of both economies.
