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Bilateral trade between Korea and Hong Kong grew at an average 8.8% between 2003 and 2007, reaching over US$22 billion last year.
"This is pretty encouraging, but opportunities still exist to further enhance our trade and economic relationship," said the Principal Economic and Trade Representative of the Hong Kong Special Administrative Region Government, Mrs Jennie Chok, during a luncheon seminar in Daegu today (August 26).
At the seminar, Mrs Chok outlined the attributes that help Hong Kong to remain at the forefront of international cities as well as the location of choice for international companies doing business in Asia.
She said that, under the "One Country, Two Systems" arrangement, these attributes include a trusted legal system administered by a reputable and independent judiciary, a clean and efficient government with a world-class anti-corruption regime, a level playing field for business, as well as the free flow of information, goods and capital.
Mrs Chok said that Hong Kong is itself a vibrant market.
"Furthermore, Hong Kong based business entities, including companies established by foreign interests, are provided with a unique opportunity to tap into the growing Chinese market under the Closer Economic Partnership Arrangement," she added.
Mrs Chok said that a number of transport and infrastructure projects, including the Guangzhou-Shenzhen-Hong Kong Express Rail Link, the Hong Kong-Zhuhai-Macao Bridge and a high-speed rail linking the airports of Hong Kong and Shenzhen, are underway to further enhance Hong Kong's connectivity to southern China.
Mrs Chok also took the opportunity to highlight Hong Kong's commitment to providing quality education not only for local students but also for non-local ones, and said that Hong Kong has implemented a number of liberal policies to facilitate entry of non-local students for study and career development.
Before closing, Mrs Chok appealed to Korean companies, especially small and medium enterprises, to make more use of Hong Kong as a market, or as a base to test the waters in the China market.
The luncheon seminar, hosted by the Hong Kong Economic and Trade Office and attended by some 200 business and financial executives in Daegu, the third largest city in South Korea, was well received.
Ends/Tuesday, August 26, 2008
Issued at HKT 14:34
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