Financial Secretary Paul Chan arrived in Davos, Switzerland on Monday for the World Economic Forum (WEF) Annual Meeting where he expressed his desire to expedite a free trade agreement between Hong Kong and the Gulf Cooperation Council (GCC).

Chan met Jasem Mohamed Albudaiwi, the council's secretary-general, to discuss strengthening bilateral trade cooperation.

The FS said both parties acknowledged that the launch of the "Gulf Cooperation Council Chapter" at the Asian Financial Forum last week marked a significant step forward in strengthening financial services cooperation between Hong Kong and the Gulf states.

Chan said the SAR government is committed to facilitating two-way business delegation visits to enhance collaboration in digital economy, green transformation, securities markets, Islamic finance, and asset and wealth management with Arab states.

Chan also met several finance and business leaders from Europe, America, the Middle East and Japan and promoted the SAR's advantages as a "super connector" and "super value-adder".

He said he briefed the leaders on Hong Kong's recent economic and social developments, highlighting progress in the local financial market last year and achievements in attracting businesses and talent.

He emphasised strategies to advance finance, innovation and technology, trade and aviation and create global opportunities for businesses and talent.

Additionally, Chan met the chair of Revolut, a UK-based fintech company specialising in digital banking services, to discuss the latest developments in the field and to encourage the company to expand its operations in Hong Kong.