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First move to tap Eastern European Markets
Style Hong Kong in Budapest Expo opens today

TDC brought the style and elegance of Hong Kong to Central & Eastern Europe. Renowned Hong Kong models Eunis Chan, Kathy Chow, Ana R and Vanessa Yeung parade the latest Hong Kong fashions at the landmark, Chain Bridge in Budapest.
Accompanied by Mr Fred Lam, State Secretary of the Ministry for Economy and Transport of Hungary, Mr. Abel Garamhegyi and Miss Hong Kong 2006 & Miss International Goodwill Ms Aimee Chan toured around at the fair ground.

Hong Kong Trade Development Council (TDC) organises its first large-scale solo exhibition in Hungary this week to present the best of Hong Kong style, products and business opportunities to Central and Eastern European buyers.

Bringing together thousands of innovative products from over 100 Hong Kong companies, Style Hong Kong in Budapest Exposition is being held at the Budapest Congress and World Trade Centre from September 11-13.

Countries in Central and Eastern Europe are opening up their markets to attract foreign investment. Eight countries including Hungary, Poland and the Czech Republic have become members of the European Union since May 2004. Last year, Hong Kong's exports to Hungary amounted to HK$7.74 billion, representing a 28% growth over 2004.

Speaking at the opening ceremony earlier today (September 11), TDC Council Member Mr. Jeffrey Lam said Hong Kong and Hungary have long been close business partners. "In the whole of Central and Eastern Europe, Hungary has been the largest market for Hong Kong's products, and we are keen to ensure this relationship remains strong in the years to come."

The fair aims at extending Hong Kong companies' reach to the market, generating greater awareness of Hong Kong's branded products and reinforcing Hong Kong's image as an international business platform and Asia's sourcing centre.

Many of the exhibitors, who would like to diversify their business into the emerging markets, are new to the Central and Eastern European market.

A kaleidoscope of products including electronics and electrical appliances, gifts and houseware, fashion garments and accessories, and fashion jewellery will be on display. Logistics service-providers from Hong Kong are also exhibiting at the show to meet local partners.

Mr. Lam added: "Today's show is a proud first, and we look forward to repeating this in the coming years. Hong Kong wants to reach deep into this region, and we are excited to start in Budapest."

Mr. Lam said many Hong Kong companies are launching their own brands. "Through this show, we hope to raise awareness about Hong Kong's distinguished standing as the representative of world-class style and the trendsetter of Asia," he added.

Industrial products have been the major trading items between Hungary and Hong Kong. However, with the increasing spending power of Hungarian consumers, there is stronger demand for a wide range of value-for-money products including consumer electronics and small electrical appliances as well as imitation jewellery, watches, educational toys and fashionable clothing.

In addition, more distribution channels such as large-scale shopping malls and themed retail chain stores have been set up in Budapest, offering new opportunities for Hong Kong products to reach the end buyers in the capital city.

Also officiating at the opening ceremony of the event were State Secretary of the Ministry for Economy and Transport of Hungary, Mr. Abel Garamhegy, TDC Executive Director Mr. Fred Lam and Miss Hong Kong 2006 & Miss International Goodwill - Ms Aimee Chan.

Mr Abel Garamhegyi said that he had visited Hong Kong a few years ago when business relation between Hong Kong and Hungary had yet took off.

"This year, the number of exporters in Hungary has increased by 70%, which paves the way for closer trade relation between the two places in the future," said Mr Garamhegyi.

In addition, a Hong Kong Delights gala dinner will bring a real flavour of Hong Kong to Budapest later tonight. The cream of the region's business sector will be immersed in a world of innovation and creativity through Hong Kong-made delicacies, music and parades.

Led by TDC Executive Director Mr Fred Lam and Council Member Mr. Jeffrey Lam, a Hong Kong business delegation comprising of eight companies from different sectors will depart Budapest for Prague tomorrow to host a "Czech Republic -Hong Kong" business seminar and explore the areas of cooperation in the two cities.

Apart from meeting the Deputy Minister of Ministry of Industry and Trade of the Czech, Mr. Martin Tlapa, the group will also visit major distribution channels in the city such as shopping malls and themed chain stores.

Mission members include Vice Chairman of Blue Box Holdings Ltd Mr. C.K.Yeung, Chairman of Crown Worldwide Holdings Ltd Mr. James E. Thompson, Managing Director of Fenix Hong Kong Ltd Mr. Anthony Keung, Director of Kantone Holdings Ltd Ms Shirley Ha, Manging Director of Meadville Technologies Group Ltd Mr. Tom Tang, Managing Director of RC2 (H.K.) Ltd Ms Helena Lo, Managing partner of S.G. FAFALEN & Co, Mr. Serge G. Fafalen, and Executive Director of the Hong Kong Exporters' Association Ms Shirley So.

Fair website:http://www.tdctrade.com/stylehk-budapest2006/index.htm
Related Press Release: http://www.tdctrade.com/tdcnews/0609/06090401.htm

Media Enquiries (Hong Kong)
Lawrence Yau
TDC Senior Communication Manager
Tel: 2584 4510

Media Enquiries(Budapest)
Beatrice Lam
TDC Assistant Communication Manager

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