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The Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Miss Mary Chow, has encouraged Maltese businessmen to explore how they can make use of Hong Kong as a gateway to China and a stepping stone to expand their business in Asia.
Speaking at a business seminar co-organised by Malta Enterprise, the Hong Kong Trade Development Council and InvestHK on September 11, Miss Chow said that Hong Kong is very eager to boost its trade and financial relations with Malta, and the signs are encouraging. Hong Kong's imports from Malta increased by a staggering 77 per cent last year and the balance of trade was heavily in Malta's favour.
"I see a lot of opportunities in Hong Kong for Maltese companies in our four pillar industries, namely financial services, trading and logistics, tourism and professional services. They could also find good opportunities in the new growth sectors that we are promoting. These include medical services, education services, cultural and creative industries, environmental industries, innovation and technology as well as testing and certification."
The comprehensive avoidance of double taxation agreement (CDTA) signed by Hong Kong and Malta in November 2011 provides added incentives for trade and investment between the two economies.
"I am delighted that Malta Enterprise will be organising a business delegation to Mainland China and Hong Kong in October to explore trade and investment opportunities," she added. "I hope that the information you will get from today's seminar will lead you to consider taking part in the delegation to see for yourselves what Hong Kong can offer as a location for expanding your business to Asia."
Director Germany and Central Europe, Hong Kong Trade Development Council (HKTDC), Mr Wing Sham, informed the participants that "Hong Kong is an ideal place to learn more about the Chinese and Asian markets and find possible business partners. HKTDC organises more than 30 international trade fairs each year. Joining a HKTDC fair would open a window to the business trends and styles of Asia for Maltese companies. To help the entrepreneurs making their visit successful, the HKTDC is offering a number of services like sponsorships programmes and buyer missions, market information, seminars and business matching sessions."
He felt confident, that "there are promising business opportunities at hand between Hong Kong and Malta." The total trade between the metropolis and Malta grew by 72.4 per cent in 2011. Of the trade volume of USD 441 million, 95 per cent were imports from Malta to Hong Kong.
Other speakers at the seminar were Chief Officer, Trade Investment and Enterprise Support, Malta Enterprise, Mr Joe Schembri; Senior Investment Promotion Executive (Europe), InvestHK, Mr Siegfried Verstappen; and Manager Internationalisation, Malta Enterprise, Mr Robert Falzon. Mr Francis Vassallo of Francis J. Vassallo & Associated Ltd gave a detailed presentation on the CDTA between Malta and Hong Kong, while Mr Stephen Sultana of Farsons plc presented some case studies. The business seminar was followed by a Q & A session, a networking luncheon and individual meetings with companies during which they discussed potential business opportunities with the Hong Kong representatives.
The Business Delegation to Hong Kong and Shanghai organised by Malta Enterprise will take place from October 13 to 21, 2012.
Ends/Tuesday, September 11, 2012
Issued at HKT 23:23
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