Hong Kong–Thailand MOU to Bond Closer Trade Ties

[prnews]

Bangkok, 26 Nov 2010 – Mr Benjamin Chau, Deputy Executive Director of the Hong Kong Trade Development Council (HKTDC), is in Bangkok to sign a Memorandum of Understanding (MOU) with the Department of Export Promotion (DEP) of the Royal Thai Government in order to establish a framework of cooperation to strengthen the economic partnership between companies from Thailand and Hong Kong.

“The MOU shows the mutual determination of the HKTDC and the DEP to strengthen our joint effort to promote trade in Hong Kong and Thailand. Significant surges in trade between the two economies point to great development potential for further cooperation,” said Mr Chau as he signed the MOU with Mrs Nuntawan Sakuntanaga, Director-General of the DEP at the MOU signing ceremony held this afternoon.

Hong Kong, with various business-friendly attributes including excellent international connectivity, flexible labour market and free flow of information, is a well-established international hob and ranks as the world’s freest economy for the 16th consecutive year in the 2010 Index of Economic Freedom.

Currently, Thailand is the 2nd largest economy in the 10-nation ASEAN. It is Hong Kong’s 13th largest export market and 8th largest import source. The value of Hong Kong’s exports to Thailand increased by 39% year-on-year in the first nine months of 2010, while during the same period, the value of Hong Kong’s imports from Thailand also increased by 38%.

Under the newly signed MOU, the HKTDC and the DEP will work together to implement trade promotion activities, organise training and exchange programmes on trade promotion and enhancement. In order to help Thai companies embrace the increasingly popular Internet as a cost-effective means to reach out far and wide, the HKTDC will also offer special online promotion package to companies nominated by the DEP. The MOU covers a number of industry areas, including decorative arts & crafts, houseware, furniture, toys, jewellery, garment, gifts, food, and pet supplies etc.

HKTDC Offers 3-in-1 Integrated Solution for Trade Promotion
The HKTDC, an international marketing arm of traders, has an extensive network supported by over 40 global offices. The organization is manage a trusted online marketplace, organizes over 30 trade fairs each year and publishes 15 specialised product magazines. These well-established promotion platforms work at different aspects to benefit traders as a 3-in-1 integrated solution for trade promotion.

HKTDC Online Marketplace (http://www.hktdc.com) is a powerful and trusted online marketplace enabling traders to connect, and stay connected, with business counterparts from around the world despite time difference and their physical distance. Thai companies can showcase their products or services, receive buying leads, enjoy priority referral to visiting buyers of related HKTDC trade fairs, and receive relevant buyers lists at hktdc.com, which attracts over one million worldwide buyers. To further enhance efficiency, the information and certificates of the 120,000+ quality Hong Kong and overseas suppliers featured at hktdc.com are verified by third-party authentication companies. In 2010, the HKTDC also pioneered to launch a new Buyer Reference Service to let suppliers check the backgrounds of online buyers, thereby assisting them in identifying high-potential leads as well as boosting their confidence.

For face-to-face meetings with buyers from around the world, HKTDC’s international trade fairs are excellent platforms. The HKTDC organises over 30 trade fairs a year in Hong Kong, 10 of which are the largest of their kind in Asia, and 3 of which are the largest in the world. In 2009/10, the HKTDC trade fairs drew more than 608,000 buyers from all around the world, an increase of 8% over the previous year.

The HKTDC also publishes 15 specialised product magazines and dozens of supplements which reach five million global buyers in more than 200 countries and regions annually. Packed with quality suppliers and exhibitors, the HKTDC's product publications are also the official magazines of the world-renowned HKTDC trade fairs, featuring essential event highlights, exhibitor list and the floor plan. Besides wide distribution at trade fairs in Hong Kong and overseas, HKTDC also mails the magazines direct to key decision makers in its database. All the HKTDC product magazines are available in electronic format, which will be emailed to buyers for faster access and timely update. Thai companies can reach serious buyers from around the world including quality trade fair visitors by advertising in both print and online magazines.