2 Sept 2011
Upbeat Outlook for Hong Kong-Japan Trade
Nearly 300 Participate in Hong Kong-Japan Economic Summit
2 September 2011 – Trade relations between Hong Kong and Japan look set to grow, despite the March earthquake, according to Hong Kong-Japan Business Co-operation Committee Chairman Dr Jonathan Choi, speaking today at the Hong Kong-Japan Economic Summit 2011.
Dr Choi, who is also Chairman of the Chinese General Chamber of Commerce, said his optimism was based, in part, on the excellent cooperation between the two economies. “A high-level Hong Kong delegation visited Japan at the end of July – the first economic and trade mission to Japan following the earthquake,” he said. “And now we welcome some 50 senior leaders from Japan to Hong Kong.”
In all, nearly 300 business people from Hong Kong and Japan attended the summit, organised by the Chinese General Chamber of Commerce, the Hong Kong-Japan Business Co-operation Committee, The Japan Chamber of Commerce and Industry and the Japan-Hong Kong Business Cooperation Committee. The Hong Kong Trade Development Council (HKTDC) co-organised the event.
Japanese Manufacturers Recovering
Trade prospects have been boosted by the fact that 93 per cent of Japanese production lines have resumed operations and more than 80 per cent of Japanese manufacturers have recovered to pre-earthquake levels. This clearly bodes well for ongoing growth, according to HKTDC Deputy Executive Director Margaret Fong.
Ms Fong also noted the strong Japanese presence at Hong Kong Trade Development Council trade fairs. “We welcomed more than 350 Japanese exhibitors to our fairs last year, up more than 38 per cent over 2009,” Ms Fong said. “And Japanese buyer visits to our fairs grew by some 18 per cent, to more than 14,200, in 2010.”
Boosting Promotions in Japan
The HKTDC also plans to boost promotions in Japan in the coming year to further develop trade relations between the two economies, according to Ms Fong. “We see significant business opportunities between Hong Kong and Japan in areas ranging from technology to IP trading, investment and much more,” she said.
Consul-General of Japan in Hong Kong Yuji Kumamaru told the summit that Hong Kong measures announced during China’s Vice Premier of the State Council Li Keqiang’s recent visit to the city are expected to help the Hong Kong economy grow. “This would not only benefit Hong Kong companies, but also Japanese companies, as long as the two work closely with each other,” he said.
Japan is Hong Kong’s third-largest export market and its second-largest source of imports. Last year, exports from Hong Kong to Japan were valued at US$16.4 billion. Total trade reached some US$56 billion.
Please contact the HKTDC's Corporate Communication Department:
Tel: (852) 2584 4216
About the HKTDC
A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 global offices, including 11 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and on the mainland, while providing information via trade publications, research reports and online. For more information, please visit: www.hktdc.com