************************************************************
The Director of the Hong Kong Economic & Trade Office (HKETO) in Canada, Ms Maureen Siu, today (May 14, Canada Halifax time) told a business workshop in Halifax that Canadian companies should choose Hong Kong as the base for their Asia operations.
The workshop, entitled "Linkages and Opportunities with Hong Kong SAR and China Mainland", was held at the Saint Mary's University. It was organised by the Halifax section of the Hong Kong-Canada Business Association, with the support from the university and the Canada office of the Hong Kong Trade Development Council (HKTDC).
Ms Siu told the 60 business people at the workshop that with the emerging Chinese economy, there are many opportunities for the Atlantic Canada if they know how to use the Hong Kong advantages to make it a platform to the Asian market, especially the China mainland market.
"China offers greater potential for the future than many other rapidly expanding markets in Asia," said the HKETO Director. "Canadian businesses need to intensely engage in Canada-China relations by making use of its Hong Kong connection, its long-established business relationship with Hong Kong, and the resources of the 220,000 Canadians now living in Hong Kong."
"Exporting to a foreign country isn't so hard when the foreign country isn't so foreign," she added.
Ms Siu said Canada and Hong Kong share many core values. "We both have the common law legal system underpinned by an independent judiciary, clean and efficient governments, and zero tolerance of corruption," she said. Hong Kong also serves as a leading international arbitration centre.
"Hong Kong plays a vital role in the strategy of Canadian companies," she said. Canada's direct investment in Hong Kong amounted to C$6 billion in 2008, more than double since 2005. "Canadian companies should take Hong Kong as a market, a business partner, and a platform to China."
According to the HKETO Director, close to 100 Canadian companies have regional headquarters, regional offices, or local offices in Hong Kong. And, all Canadian "big six" banks are operating in Hong Kong. The Canadian Pension Plan Investment Board also has opened its first overseas office in Hong Kong.
Ms Siu cited recent success stories of Canadian biotechnology company NDI partnering with the Hong Kong Science & Technology Parks, APREL Laboratories installing a Canadian radiation emission measurement system at the City University in Hong Kong, and the Ottawa-based 3M-AiT partnering with a Hong Kong company to install Canadian Optical Character Recognition (OCR) technology at the Hong Kong-China border. The Nova Scotia-based MedMira Inc., a developer and marketer of rapid diagnostic technology and solutions, has also partnered with a venture capital group to acquire capital in Hong Kong to finance its biotechnology projects in Canada.
She also reminded the business people in the Atlantic city of Halifax that Canada is Hong Kong's 8th largest food supplier, and Hong Kong is a major market for Canadian seafood such as live lobsters and geoduck.
Director (Canada) of the HKTDC, Mr Andrew Yui, discussed how Hong Kong could facilitate Canadian business diversification to China at the workshop. He quoted some striking figures such as 9.8 million cars were sold in China in 2009, making it the largest car market in the world; 747 million mobile phone users; and 120 million Chinese online shoppers in 2008, spending C$17 billion.
"Hong Kong is the Chinese city that speaks your language... the language of international business," he said, while focusing the HKTDC's services in providing business intelligence, matching business partners and connecting customers. "Asia remains in better shape than the rest of the world during the global financial crisis," Mr Yui concluded. "And, Hong Kong has become a vibrant conduit for businesses trading with China and investing in China, offering Canadian businesses a familiar business environment and opportunities for partnership for their success."
Ends/Saturday, May 15, 2010
Issued at HKT 11:01
NNNN