12 Dec 2007
Hong Kong and Russian Trade Bodies Sign MOU
Enhances business links between the two economies
|TDC Executive Director Fred Lam (right) and Chairman of the Russian Business Organisation Boris Titov signed an MOU to promote the expansion of trade between Russia and Hong Kong at the 7th edition of World SME Expo.|
December 12, 2007 - The Hong Kong Trade Development Council (TDC) and the Business Russia Organisation (BRO) yesterday signed an MOU to jointly promote the expansion of trade between Russia and Hong Kong.
Representing the TDC was its Executive Director Fred Lam, while representing the BRO was its Chairman Boris Titov. The BRO is Russia's largest business association, comprising more than 10,000 corporate members from all over the country.
"Our organisations are the two support foundations that anchor the economic bridge we are building between Russia and Hong Kong," said Mr Lam at the signing ceremony.
"The MOU we are signing today is one more milestone in our growing relationship. It demonstrates a mutual interest to develop closer economic ties. Russia is a promising but challenging market - so too is China. That is why this MOU is significant for our two business communities," he said.
The December 11 MOU is the second such document signed by the TDC with a Russian business body in the last three months. On September 26, Mr Lam signed a trade promotion MOU in Moscow with the Russian China Business Council.
That MOU was signed during the TDC's Style Hong Kong in Moscow exhibition, which brought approximately 220 Hong Kong companies to the Russian capital for the first-ever major show of Hong Kong products in that city.
In the first 10 months of 2007, Hong Kong's total exports to Russia rose by 58 per cent to US$699 million. That comes on top of growth after a surge by 15 per cent to US$578 million in 2006, according to TDC statistics.
The December 11 MOU was signed in conjunction with the 7th edition of World SME Expo, which begins today. Organised by the TDC, World SME Expo features approximately 330 exhibitors from more than 40 countries and regions.
Concurrent events to World SME Expo include Inno Design Tech Expo 2007, an international design and technology fair featuring about 300 exhibitors from more than 20 countries and regions, and the International Business Conference on December 13, featuring renowned management expert Dr Kenichi Ohmae. Combined with Business of Design Week, the events are expected to draw approximately 40,000 participants.
About the TDC
Established in 1966, the Hong Kong Trade Development Council (TDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 offices worldwide, including 11 in the Chinese mainland, the TDC promotes Hong Kong as a platform for doing business with China and Asia. The TDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and the mainland, while providing information via trade publications, research reports and online. For more information, visit www.tdctrade.com
Please contact the TDC's Corporate Communication Department:
Victor George Paddy Tel: (852) 2584 4517 Email: firstname.lastname@example.org