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Tuesday, 16 January 2018, 18:00 HKT/SGT

Source: HKTDC
HKTDC Signs MoU with Hokkaido Government
- Strengthening Bilateral Business Ties
- Consolidating Hong Kong's Role as Regional Trading Hub

HONG KONG, Jan 16, 2018 - (ACN Newswire) - The Hong Kong Trade Development Council (HKTDC) has signed a Memorandum of Understanding (MoU) with the Hokkaido Government yesterday to strengthen bilateral economic cooperation and assist Hong Kong and Hokkaido enterprises in exploring overseas markets. The MoU was signed by HKTDC Executive Director Margaret Fong and the Governor of Hokkaido Harumi Takahashi.

- Leveraging Hong Kong's role as an international trading platform

Hong Kong and Japan enjoy close economic relations. As the regional trading hub in Asia, Hong Kong's favourable geographic location attracts a large number of Japanese trading companies and manufacturers to set up purchasing and distribution offices in Hong Kong. We hope to encourage more Hokkaido companies to make use of Hong Kong as an effective platform for promoting trade and investment in various sectors, in particular tourism, food and agriculture, as well as manufacturing," said Margaret Fong.

Margaret Fong added: "Through signing the MoU, we seek to strengthen the ties between Hong Kong and Hokkaido, and connect Hokkaido companies with counterparts from Hong Kong, the Chinese mainland and Southeast Asia. Hokkaido could also ride on other lifestyle-related trade fairs organised by the HKTDC, such as FILMART, to promote Hokkaido as the ideal shooting location for the entertainment industry, which will help boost inbound tourism at the same time."

The Governor of Hokkaido Harumi Takahashi expressed that the exchanges between Hokkaido and Hong Kong are very active. "Each year, Hokkaido welcomes around 170,000 people from Hong Kong, and that Hong Kong is the second largest trading partner for the food exports from Hokkaido. In addition, Hong Kong companies have been proactively investing in facilities in resort areas of Hokkaido. These make Hong Kong a very important partner for Hokkaido. Through signing the MoU, we hope to build an even stronger relationship with the HKTDC, so as to broaden the economic exchanges between Hokkaido and Hong Kong, together with the business community of Hokkaido".

According to the agreement, the HKTDC and the Hokkaido Government will cooperate through information exchange to foster bilateral economic relations. Both parties also agreed to support economic exchange programmes, such as business seminars, business meetings and trade fairs, as well as to introduce business and trade missions organised by either party to relevant companies and organisations to strengthen bilateral business ties. The two parties will also identify projects and investment opportunities for enterprises from Hong Kong and Hokkaido.

- A close trade tie between Hong Kong and Japan

Japan is Hong Kong's fourth largest export market and fourth largest source of imports. From January to November 2017, Hong Kong's exports to Japan reached US$14.9 billion, while Hong Kong's imports from Japan amounted to US$29.4 billion.

Major export items from Hong Kong to Japan included telecom equipment & parts (18.9% share), semi-conductors, electronic valves & tubes, etc. (9.3%), toys, games & sporting goods (7.7%), computers (7.3%), and watches and clocks (4.2%).

Hong Kong is the largest export destination for Japanese foodstuff. In the first eleven months of 2017, Japan's exports of food amounted to US$1 billion, accounting for over 23.1% of Japan's exports under the category.

As of 2017, a total of 233 Japanese companies had set up regional headquarters in Hong Kong, while another 428 had regional offices here. In addition, Japan was the ninth largest source of foreign direct investment (FDI) in Hong Kong, with a total stock of HK$220.7 billion as at end-2016.

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Established in 1966, the Hong Kong Trade Development Council (HKTDC) is a statutory body dedicated to creating opportunities for Hong Kong's businesses. With 50 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China, Asia and the world. With more than 50 years of experience, the HKTDC organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in international markets, while providing business insights and information via trade publications, research reports and digital channels including the media room. For more information, please visit: Follow us on Google+, Twitter@hktdc, LinkedIn.

Communication and Public Affairs Department
Banbi Chen
Tel: +852 2584 4525

Jan 16, 2018 18:00 HKT/SGT
Source: HKTDC

Topic: Press release summary
Sectors: Daily News
From the Asia Corporate News Network

Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

HKTDC Executive Director Margaret Fong and the Governor of Hokkaido Harumi Takahashi signed a MoU yesterday (15 January) to strengthen bilateral economic cooperation.
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