High level delegation seeks
closer trade ties
THERE IS no doubt that South Africa, in its own right, and as the gateway to the much larger Southern sub-Saharan region, is an attractive proposition for Hong Kong entrepreneurs, said head of a trade delegation from Hong Kong, Donald Tsang. The delegation visited the country last week at the invitation of the South African government.
On the other hand, Hong Kong was the logistical site for South African businesses wanting to establish a base from which to access not only the vast China market, but East Asia as well, said Tsang, who is Hong Kong's financial secretary.
The visit coincides with efforts by both Hong Kong and South Africa to expand their economic partnership. Tsang, who headed the high-level, 12-person delegation told FTW in an exclusive interview in Johannesburg last week that the aim of the mission was to strengthen business ties and explore trading and investment opportunities.
We are always seeking to widen our commercial horizons to diversify or trade in goods and services and to develop partnerships in regions where we see potential for significant growth. This is most important to our quest for economic recovery, said Tsang.
The establishment of diplomatic relationships between the two countries played a role as a bridge through which increased trade and investment would flow between the two countries, he said. Last year Hong Kong's trade with South Africa exceeded HK$7.8 billion.
South Africa has also embarked on a programme to reduce import tariffs and improve market access which will offer Hong Kong companies better trading opportunities in the future, he said. The 12 business leaders represented various industries such as toys, textiles, precious metals, foodstuffs and logistics services. Delegation member, James Thompson who is chairman of Crow Worldwide Holdings Ltd, said Hong Kong was a city built on trade and trade relations and one of the government's objectives was to improve relations with trading partners and to find new ones. Through this trade mission we are here not only to forge business ties, but also to create an awareness of what can be done for the mutual benefit of both countries, he said.
The South African Business Forum, which was set up by the consulates in Hong Kong, was proving to be a valuable asset in promoting business development between the two countries, he said.
The delegation met President Thabo Mbeki and ministers holding key portfolios in trade, industry and finance. It also held a series of meetings with business people, bankers and financial institutions.
By Anna Cox
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