Seminar on trade with Hong Kong

The Malta Federation of Industry (FOI) and Malta Enterprise jointly organised a well-attended seminar entitled "Hong Kong: Bringing You to China's Markets", last Tuesday at the premises of Malta Enterprise in the San Gwann Industrial Estate.

This morning seminar, organised in collaboration with the Hong Kong Trade Development Council (TDC), aimed at providing alternative solutions to aspects like the sourcing of raw materials or semi-finished products from Hong Kong for further processing in Malta; exporting opportunities to China's markets for Malta-made products as well as manufactured components for further production; and possibilities for joint ventures between Malta-based firms with partners located in Hong Kong.

FOI vice-president Ian Mizzi opened this seminar, highlighting the federation's role and the services available to its members, with a particular emphasis on trade-related assistance, guidance and other support services.

After Mr Mizzi's address, Malta Enterprise chief officer Enterprise Support Ray Muscat outlined the assistance available to business operators from Malta Enterprise, followed by Joe Esposito, head of the BoV Trade Finance Centre, who briefly explained the general trade and payment practices in Hong Kong.

The keynote speakers of this seminar were Carrie Lam, director-general, Hong Kong Economic and Trade Office, based in London, as well as Lawrence Yipp, regional director, Western Europe, Hong Kong TDC, which is the global marketing arm and public service hub for Hong Kong-based manufacturers, traders and service exporters (Website: www.tdctrade.com).

In her presentation, Ms Lam provided participants with useful background information on Hong Kong, including official industry statistics and trade trends, as well as explaining the recent developments within China that facilitate trade between Hong Kong and other regions in China, as well as the preferential tariffs applied at the borders of Hong Kong.

She encouraged participants to seek advice on how these trade agreements could be of advantage to their business operations, especially for those firms that were studying the possibility of entering into the Chinese market.

More information on Hong Kong was outlined by Lawrence Yipp, who not only explained the various services available free to business entities from the Hong Kong TDC, including the vast partner search facility accessible through the TDC Website or the TDC Milan office, but also gave a number of brief case studies, including that of Tesco, which highlighted how businesses, even when located in Europe, expanded extensively in the Asian markets, as well as worldwide, when setting up a representative office, or entering into a partnership with an operator, based in Hong Kong.

Ample time was then given to questions from the participants, who came from various manufacturing sectors including food and beverages; plastic; paper; electrical and electronic components; textiles; and pharmaceutical manufacturers, as well as service providers like consultants and traders.

Among the queries and comments raised were those relating to the advantages of exporting to China through Hong Kong rather than directly to China; the benefits of having a distribution office based in Hong Kong; providers of credit information on potential Chinese clients; and low volumes of orders required for the local market.

Reference was also given to the preferential treatment Maltese operators could be granted through the EU's bilateral trade agreements with third countries.

In the concluding remarks of this seminar, Competitiveness and Communication Minister Censu Galea announced that the much awaited port reform, which would aim at improving business operators' level of competitiveness, was soon to be commenced.

For more information on trade possibilities with Hong Kong, or copies of the presentations delivered at this seminar, contact FOI executive Cecilia Vella via e-mail: cecilia.vella@foi.org.mt or on tel: 2122-2074, 2123-4428.