Chicago: PonteSud – News Desk
The Hong Kong Trade Development Council (HKTDC) plans to host a conference next year to foster collaboration with Gulf states, the body’s new head has said, adding that US President Donald Trump’s unpredictable policies could result in further changes to its export projections.
Frederick Ma Si-hang, who took office on Jun 1, also said on Sunday that the council was exploring the feasibility of organising exhibitions at government venues to address an ongoing shortage of event spaces.
On the subject of Trump, he said the unpredictability of the United States president’s policies had led to a slowdown in investment growth globally and could result in further adjustments to the council’s export projections for the city.
The body earlier lowered its 2025 export growth forecast for Hong Kong from 4% to 3%.
The former treasury minister said the city needed to revive and strengthen its historical role as a connector for trade, while noting he was the first Hong Kong official to lead a delegation to the Middle East in 2006.
Ma said that the city’s trade with South Asian and Middle Eastern countries had grown by more than 30% in recent years, with investors from those regions becoming increasingly active.
“I am going to do something about this: I hope there will be a conference held in Hong Kong next year focusing on the Gulf Cooperation Council countries,” he told a television programme. “We will gather friends from the Middle East, mainland China and Southeast Asia, and of course, companies in Hong Kong.”
Ma also spoke about challenges arising from the city’s lack of conference and exhibition venues, explaining that even with the creation of more locations under the North Metropolis mega-project, such initiatives could take up to a decade to finish.
“Building new exhibition spaces in the Northern Metropolis is not simple. Without access to the MTR, event attendance will be low,” he said. “We must look for immediate solutions, such as collaborating with organisations to host exhibitions at their venues, including certain government sites.”
Ma also said he was reviewing the HKTDC’s network of 51 overseas offices and stressed the importance of efficiently utilising resources, especially in light of the government’s financial deficit.
While he said no final decisions had been made, he confirmed the number of offices on the mainland would remain the same. “The 13 offices in mainland China are crucial for connecting local enterprises with international markets, serving a role that other places cannot fulfil,” he said.
In a separate appearance on a radio programme, Ma said he had tasked his team with identifying emerging markets suitable for trading with Hong Kong. Some African countries were being considered by the council due to their large populations and strong economic development.
The former minister said the council could explore the potential for growth there and provide help in terms of supply and industrial chains to small-to-medium-sized enterprises interested in the area.
Ma also said he was glad that former Morgan Stanley Asia chairman Stephen Roach had recently “changed his stance” after declaring last year that the city was “over”.
In an interview with the Post this month, Roach said the city had benefited from the crossfire between the US and China, but claimed that other aspects of the financial hub had worsened.
Ma on Sunday said: “If Hong Kong can maintain its advantages, such as its legal system, financial stability, talent and a free flow of capital, among others, Hong Kong will definitely not be over.”
“Now, we are proved correct as the world changes, many people will consider coming to Hong Kong. The Hong Kong stock market has been buoyant, and we see vibrancy in the economy. I hope we can capitalise on our strengths to do well.”
