Nation’s businesses to exhibit at Hong Kong trade fair
Nation’s businesses to exhibit at Hong Kong trade fair
A representative from the Hong Kong Trade Development Council (HKTDC) is currently visiting Laos and meeting with trade organisations and stakeholders to strengthen ties between Laos and Hong Kong.
The envoy is seeking to see the participation of more Lao businesses at an upcoming Hong Kong Trade Fair, highlighting the opportunities for international exposure that will be available to local businesses.
“Laos has become an increasingly important trading partner with Hong Kong. We have enjoyed ever robust bilateral trade relations over the last fiscal year” said Mr Johnny Wan, Director of Exhibitions Market Development, HKTDC.
He said the total trade value between Hong Kong and Laos in the year of 2013 leapt to US$46 million, up by 67 percent year-on-year.
“To harness this remarkable potential between the two places, we will step up our promotional efforts to expand bilateral trade volumes,” Mr Wan said.
According to a press release from HKTDC, Hong Kong’s total exports to Laos were valued at US$31 million in 2013, up by 24 percent year-on-year.
Major export commodities from Laos include telecommunications equipment and parts, manufactured articles, plastic articles, special yarns, special textile fabrics and related products, lace, embroidery, and other small wares, which were the biggest export categories, taking up to 75 percent of the total.
Meanwhile, total imports from Hong Kong to Laos surged by 435.5 percent to US$16 million in 2013.
Among them are inorganic chemical elements, oxides and halogen salts, telecommunications equipment and parts, parts and accessories for office machines and computers, semi-conductors, electronic valves and tubes, amounting to 90 percent of total import commodities in the period.
Adding to the city’s thriving business advantages, Hong Kong’s year-round trade events give a boost to its position as Asia’s business hub, bringing together buyers and suppliers in both economies to further develop their business activities.
“As Asia will be the focus in the 21st century, Hong Kong is the best gateway to the burgeoning Asian market. Lao companies are encouraged to join the HKTDC fair to grow their relationships and capitalise on market opportunities on the Chinese mainland as well as in other worldwide markets,” Mr Wan said.
Lao entrepreneurs can consider capitalising on the exhibiting opportunities of the HKTDC fairs, in particular in those sectors they are strong at.
On the other hand, Lao buyers can come to source different merchandise, including but not limited to electronics, fashion, gifts, and premiums etc, with reference to their increasing imports in these sectors.
“I trust that Hong Kong and Laos relations will continue to grow and we look forward to seeing more Lao companies using our trading platform to tap business opportunities in the coming year,” Mr Wan concluded.
Hong Kong has already opened the market for us and they will also provide assistance for us in participating at the HKTDC trade fairs, said Dr Sanan Chounlamany, Vice President of Lao National Chamber of Commerce and Industry (LNCCI)
“Participating at the trade fair will help to promote Lao products in the international market,” he said.
Dr Sanan noted that currently most entrepreneurs are unable to produce products in large amounts but they will soon have more opportunities to expand their products to a wider market and should be in a position to do so.
“Laos is a member of the World Trade Organisation and will be a member of the Asean Economic Community next year so all entrepreneurs should strive to improve and expand their production in order to penetrate the global market,” he said.
vientiane times
