(MENAFN) HSBC's regional CEO for the Middle East, North Africa, and Turkiye, Stephen Moss, has highlighted the booming Middle East-China trade corridor as a key factor in encouraging the bank's clients to invest in the region. Speaking at the International Connections event held at HSBC's UAE headquarters, Moss identified trade, investment, and tourism as key growth areas in the region.
The Gulf Cooperation Council's trade with China has surpassed commerce with the US and the euro-area combined for the first time in 2021, with Saudi Arabia leading the charge in boosting ties with the Asian economic giant. In December 2022, Chinese President Xi Jinping visited the Kingdom on an official visit, further strengthening the relationship between the two nations.
Moss reflected on HSBC's growing relationship with the Middle East, stating that "the Middle East is a growth region for the Group, and China's pro-growth policies and the Middle East's ambitious economic transformation programs offer significant opportunities for our clients across a broad range of sectors, whether in international trade, investment, tourism, technology, infrastructure, or energy transition."
With the Middle East and China's economies continuing to grow and strengthen their trade relationship, HSBC's clients are poised to benefit from the opportunities presented in the region. The bank's focus on the Middle East and its commitment to supporting its clients' growth in the region is a testament to the potential for continued success in the Middle East-China trade corridor.
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