HK signs MOU with Saudi Arabia on Belt Road collaboration

HK signs MOU with Saudi Arabia on Belt Road collaboration

Hong Kong has signed a Memorandum of Understanding (MOU) with Saudi Arabia to deepen collaboration on the Belt and Road Initiative (BRI). The agreement, signed on July 2, 2025, aims to enhance cooperation in trade, investment, and industrial development, aligning with both nations' strategic goals.

The MOU was signed during a meeting between Hong Kong's Secretary for Commerce and Economic Development and Saudi Arabia's Investment Minister, Khalid Al-Falih. The agreement builds on the existing comprehensive strategic partnership between the two countries, which has been marked by a series of high-level dialogues and business exchanges.

The MOU focuses on several key areas, including trade facilitation, investment promotion, and industrial cooperation. Hong Kong, known for its robust financial ecosystem and strategic location, will leverage its strengths to support Saudi Arabia's Vision 2030, while Saudi Arabia will provide access to its vast market and resources.

The signing of the MOU coincides with the 35th anniversary of diplomatic relations between China and Saudi Arabia. It also comes at a time when both economies are facing challenges from a turbulent global landscape and increasing pressure on the multilateral trading system. The agreement emphasizes the importance of reinforcing coordination within frameworks such as the G20 and WTO to defend international trade rules and support multilateralism through open collaboration [1].

The MOU also highlights shared ambitions in advanced manufacturing, clean energy, and joint development of industrial parks. Saudi Arabia has expressed interest in increasing trade engagement and facilitating greater Saudi investment in Hong Kong, while also welcoming more Hong Kong enterprises to establish a presence in the Kingdom [2].

The agreement is part of a broader effort to advance the Belt and Road Initiative, which aims to connect Asia, Africa, and Europe through infrastructure and trade networks. Hong Kong is set to host the tenth Belt and Road Summit in September 2025, bringing together over ninety influential business and government leaders from across the globe. The Summit will foster groundbreaking collaboration in key sectors such as finance, infrastructure, and green initiatives, offering an unparalleled platform for global leaders to shape the future of investment and sustainable development [3].

References:
[1] https://www.saudiarabiabusinesstimes.com/article/843664493-china-saudi-arabia-forge-stronger-economic-ties
[2] https://www.middleeastmonitor.com/20250827-china-saudi-arabia-vow-deeper-bilateral-cooperation-support-for-multilateral-trading-system/
[3] https://www.travelandtourworld.com/news/article/hong-kong-gears-up-for-major-belt-and-road-summit-in-september-2025-promising-key-discussions-on-investment-and-innovation/