Hong Kong, Qatar ‘substantially conclude’ investment pact: HKSAR chief

Hong Kong and Qatar have made significant progress in concluding the negotiations for an Investment Promotion and Protection Agreement (IPPA), it was announced Monday at a luncheon in Doha under the theme ‘Partnering for Success – Hong Kong as a ‘Super Connector’ & ‘Super Value-Adder’.

“Hong Kong and Qatar have substantially concluded the negotiations on an Investment Promotion and Protection Agreement,” said John Lee, the chief executive of the Hong Kong Special Administrative Region (HKSAR), in a speech at the event.

He also said, “We will also commence negotiations on the mutual recognition of our respective Authorised Economic Operator Programmes. In addition, Hong Kong and Qatar have made considerable progress in reaching understanding on the substantive contents on an MoU for legal co-operation. Together, they will boost our trade ties and enhance our customs clearance efficiency, creating smoother, more convenient, links for our companies.

“With our investment agreement negotiations underway, Hong Kong’s network of investment agreements and Comprehensive Avoidance of Double Taxation agreements will potentially cover most of the GCC countries. More than expanding our trade ties, I believe, it could advance our continuing discussions with the GCC on the prospects of a free trade agreement. Hong Kong champions free trade, and looks very much forward to the support of Qatar.

Lee also announced that “China is Qatar’s largest trade partner,” citing both countries’ bilateral trade surpassing the $24bn mark last year. “More than trade in energy, the two countries are also co-operating in infrastructure, finance and technology... our Mainland delegates are keen to build on these good relations, to pursue more collaborations, in greater diversity, with you,” he pointed out.

Similar to China, Lee emphasised that Hong Kong is keen on furthering co-operation with Qatar. He said Hong Kong’s merchandise trade with Qatar stood at “$1.6bn” in 2024, increasing “2.6%” on average from 2020 to 2024, making Qatar Hong Kong’s third-largest trading partner in the Middle East.

He also said: “As for co-operation with the Gulf Cooperation Council (GCC), which counts six countries in the region, including Qatar, Hong Kong companies are engaged in key projects covering such areas as green transportation, no-electricity cooling technology, marine reef restoration and other areas.”