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Hong Kong trade council to open Egypt office within nine months
The council said trade between Hong Kong and Africa reached US$6.53 billion last year, as it cites tariff changes by China extending zero-tariff coverage to 53 African nations.
Hong Kong Trade Development Council said it will open a new office in Egypt within six to nine months to expand its outreach in Africa, while shifting resources away from slower-growth traditional markets.
The council chairman, Frederick Ma Si-hang, attributed the reallocation to low growth in markets including the United States, citing geopolitics, and pointed to renewed opportunity in Africa after China expanded its zero-tariff treatment in May to cover 53 African nations, excluding Eswatini.
Ma said Hong Kong and Africa trade reached US$6.53 billion last year, and that an office in Cairo is intended to help open the African market. He also referenced a textile industry delegation that recently visited Egypt to highlight local opportunities.
The council said the Cairo office would add to its network, bringing its total to 52 non-local centres, with existing consultant offices in South Africa and Kenya. InvestHK, Hong Kong’s investment promotion agency, also opened an office in Cairo about 1.5 years ago to strengthen links with the Middle East and North Africa.