Chief Executive John Lee will lead a delegation to the Middle East on Saturday, with his trip encompassing visits to Qatar and Kuwait.

Executive Council member and Legislative Councillor for the Commercial Functional Constituency Jeffrey Lam, who will be part of Mr Lee’s delegation, explained that the Middle East has seen rapid development in recent years in areas such as finance, infrastructure and tourism. He believes there is significant potential for economic co-operation with Hong Kong, and that the city must accelerate its exploration of emerging overseas markets.

Mr Lam expressed optimism about the potential for such co-operation, noting that – as an international financial centre – Hong Kong is ideally positioned to advance collaborative efforts in various sectors.

“Especially after the import duty trade war started by the US, a lot of people do not want to rest all their investments or businesses in the US. So, they are looking into Hong Kong, the Middle East, Association of Southeast Asian Nations countries, etc.”

Mr Lam added that he hopes the trip can facilitate opportunities for co-operation related to new energy. He highlighted that the Middle East, traditionally reliant on oil, is increasingly interested in diversifying and adopting new technologies.

“Solar energy is another area that we can develop,” he said. “Imagine 6.5 to 8.5 hours of sunlight, how we can save that energy and use that energy. That needs technology to accomplish it.”

Mr Lam also outlined that in addition to helping Hong Kong businesses develop opportunities overseas, the delegation hopes to bring in more capital from the Middle East region. This includes attracting companies to set up regional headquarters in Hong Kong, leveraging the city’s role as a hub connecting the Mainland and the rest of the world.