An international association of Hong Kong and Middle Eastern enterprises is spearheading initiatives to promote business collaborations between the two markets.

The Hong Kong-Middle East Business Chamber (HKMEBC), founded in July 2023 by Hong Kong jeweller Aaron Shum, is aimed at facilitating events and partnerships to drive mutual growth.

In an interview with JNA, Shum said solid demand for jewellery from the Middle East makes it a promising market for Hong Kong jewellers.

To celebrate its first anniversary, HKMEBC is planning a business forum in Hong Kong by the second half of the year to be attended by industry representatives from the Middle East.

Global footing

Over 300 companies and business associations from various industries, including more than 10 jewellery companies, have so far joined HKMEBC. 

Shum said he established HKMEBC in response to China’s national policy of supporting enterprises wanting to enter the Middle East. Shum has over 40 years of experience living and doing business in the region.

His eponymous company, Aaron Shum Jewelry, has 30 retail outlets in the UAE, with the Middle East business accounting for 50 per cent of the company’s overall revenues.

“The Middle East is an indispensable market worth exploring to support Hong Kong’s future development. Specifically, Saudi Arabia is further opening its doors and there is robust consumer demand combined with strong purchasing power,” he commented.

Business delegations

HKMEBC and the Dubai Multi Commodities Centre (DMCC) last year signed a Memorandum of Understanding (MOU) to enhance cooperation between professionals while business matching delegations between the UAE and Hong Kong were organised.

HKMEBC also arranged an extensive business matching delegation to Riyadh, Jeddah in Saudi Arabia as well as Dubai in the UAE in February 2024. Various events were held to connect the chamber’s members with local business communities.

Business matching sessions covered a wide range of industries including jewellery and watches, food, fisheries and suspended railway, among others.

“We had the opportunity to connect with major business chambers in Riyadh and Dubai, which helped lay a solid foundation for our members to enter the Middle Eastern market,” Shum explained.

A highlight of the delegation was a business docking event held on February 23, 2024 at HKMEBC’s regional office in Dubai. The event was attended by over 300 business representatives and 39 business leaders from Hong Kong.

“The event successfully drew attention to the potential for business cooperation between the Middle East and Hong Kong. Middle Eastern enterprises clearly expressed their wish to develop economic and trade relations with mainland China and Hong Kong. The chamber plays an important role in opening channels and networks for both sides,” Shum added.