Hong Kong-India’s trade partnership is on the upswing. Highlighting the growing trade ties, Benjamin Chau, Deputy Executive Director Hong Kong Trade Development Council (HKTDC) said, “We are glad to see that India has been grown to be one of Asia’s most significant countries. India’s middle class is expanding with increasing spending power which generates tremendous trade opportunities and poses great impact on the regional economy.” Chau further added, “The bilateral trade between the two economies is particularly strong at industries including precious and semi-precious stones, jewellery, electronics, IT, and textile, all of which are leading industries in this booming country.”
He said India was the 7th largest source of Hong Kong imports in the first three quarter of 2013. Hong Kong’s import from India reached $8.8 billion. “So we are actually enjoying the balanced trade. We import 1.2 per cent of yarn from India,” said Chau.
HKTDC fairs see larger Indian participation
Buyers from India visiting HKTDC fairs for product sourcing have been on the rise in the last few years, a rise of 5 per cent. “We encourage Indian enterprises to capitalize on international trading opportunities our trade fairs offer to reach out to the massive global buyers and tap into other flourishing markets in Asia as well as the Chinese mainland,” Chau explains.
Supported by quality international exhibitors and buyers, HKTDC trade fairs are a one-stop sourcing and marketing platform. Buyers and exhibitors can capitalize on the opportunities to gather the latest market intelligence, and most important of all, form partnerships and expand business network. “With closer collaboration between India and Hong Kong, and with our concerted effort, a stronger bilateral trade relationship and more business opportunities can be developed. HKTDC, will continue to assist in bolstering bilateral trade relations between India and Hong Kong,” Chau said.
The Hong Kong fashion week started in the year 1970 and is one of the largest fashion fair in Asia, probably the second largest in the world. Elaborating on the shows, Chau said, “The January show will have 1,600 exhibitors and the July show have around 1,200. The fashion week will cater to the needs of the OEM garments and we also have another show called World Boutique Hong Kong catering to branded garments. There are around 300 exhibitors catering to 600 brands. If you add World Boutique and Fashion Week together then we have close to 1,900 exhibitors which is a big competition.”
As for initiatives taken to make the fair relevant for Indian exhibitors, Chau said, “We offer business opportunities and bring international buyers to talk to them and network with them. This is the best incentive I can offer to Indian companies. To encourage Indian visitors, HKTDC engages the media and informs them about the offering in the business arena, bringing international buyer to the show to network with Indian companies, putting them on the limelight,” reveals Chau.