ISSN 2330-717X

Hong Kong Fosters Stronger Economic Ties With Thailand

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 With business travel continuing to be restricted due to the global pandemic, Hong Kong is exploring ways to foster stronger economic ties with its trading partners. The Hong Kong Trade Development Council (HKTDC) and the Thai Ministry of Commerce’s Department of International Trade Promotion (DITP) Saturday ratified a memorandum of understanding (MOU) at CENTRESTAGE, Asia’s premier fashion event organised by the HKTDC.

The MOU, which renews one signed in 2018, aims to promote trade and business activities, enhance the exchange of trade-related information, and strengthen the economic partnership between Hong Kong and Thailand.

HKTDC Deputy Executive Director Benjamin Chau said: “The HKTDC and DITP are pleased to cooperate in organising exchange, training and marketing activities such as trade fairs, seminars and forums to facilitate communication and cooperation between the business communities of Hong Kong and Thailand. Under the renewed MOU, small-and-medium enterprises (SMEs) and start-ups in selected target industries of Hong Kong and Thailand will be encouraged to participate or feature in online platforms, mobile applications and trade fairs of the DITP and HKTDC to promote their products and services to international markets.”

The target industries include decorative arts and crafts, houseware, furniture, toys, gems and jewellery, garment and fashion accessories, food and beverage, pet supplies, cosmetics and personal care, gifts and premium, stationery, spa products, medical devices and supplies, electronics and information communications technology, printing and packaging, as well as natural and organic products. Service industries such as healthcare, finance, infrastructure and real estate services, design and marketing, and film and animation are also covered.

Mr Chau continued: “To help SMEs and start-ups capture the opportunities arising from the shift to online business, the two organisations will also enhance collaboration in the digital economy, such as in e-commerce promotions, webinars, virtual trade fairs and showcases, and online business matching activities, in order to provide enterprises with technology support and solutions to improve their capabilities. With the surge of online business activities under the pandemic, it is important for enterprises to make good use of technology to capture business opportunities.”

“To promote Thailand’s exports during the pandemic, Mr Jurin Laksanawisit, Thailand’s Deputy Prime Minister and Minister of Ministry of Commerce, has progressive policies to enhance Thailand market access to the world. By providing multiple levels of SME training and new trade promotion techniques called “Mirror – Mirror” which enables Thai entrepreneurs to exhibit their products at international trade fairs without attending in person. We are very happy to strengthen our cooperation with the HKTDC. We also look forward to our businesses taking part in a wider scope of HKTDC activities”, said Chanunpat Pisanapipong, Trade Commissioner and Consul of Thailand’s DITP.

Thailand is Hong Kong’s 10th-largest trading partner, with bilateral trade totalling US$17.3 billion in 2020. Hong Kong exports to Thailand amounted to US$6.3 billion last year while the city imported US$11.1 billion worth of goods from the country.

CENTRESTAGE (10-12 September), currently running at the Hong Kong Convention and Exhibition Centre (HKCEC), features more than 200 fashion brands from 24 countries and regions. The debut Thai Pavilion, organised by the DITP, showcases 17 Thai fashion brands that participate in a Thailand fashion start-up incubation project called QUARTED. The pavilion symbolises increased collaboration between the DITP and HKTDC in promoting Thai fashion brands in Hong Kong.

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