Hong Kong has announced a $10.3 million package for the SME sector of Pakistan to enable it to reach its markets, besides offering local businessmen opportunities to explore joint ventures with its business community and elevate bilateral trade.
Hong Kong - the worlds third largest financial centre has a great potential for Pakistani sports goods and surgical instruments, although the volume of bilateral trade between the two countries was as small as $613 million in 2008, the visiting Assistant Executive Director, Hong Kong Trade Development Council (HKTDC) Raymond Yip said at a press conference at a local hotel here on Thursday.
The package will help SMEs sector reach Hong Kong markets which is particularly aimed at alluring the Pakistani traders to participate in the trade exhibitions there, as under the package the HKTDC will offer concessional air tickets, hotel stay, etc, to the participants for the year 2009, Yip said.
He urged Pakistani traders to avail the opportunities left out by the worlds developed economies for continued global financial turmoil, adding that Hong Kong intends to allure the worlds emerging economies towards its markets for investment.
He hoped that the Hong Kong market will prove a robust platform for the local traders, adding that "Hong Kong will make you (Pakistani investors) succeed there with economic benefits." He said that the Pakistani products of leather, textile, sports goods, surgical instruments, etc, have a great appeal in his country with largest population of China who has a solid purchasing power.
He said that world can use his country as a transit trade centre to reach one anothers markets, adding that Pakistani traders can also use it as gateway to reach South East Asian countries and Australian continent. He pointed out that Hong Kong was at the fourth position in the index of foreign direct investment in Pakistan during 2007, which stood at $340 million, after US, UAE and Britain, adding that Pakistan is the 43rd trade partner of Hong Kong.
Yip said that his country is hosting six different world trade shows in April this year which include HKTDC Hong Kong Electronics Fair - Spring Edition, HKTDC Hong Kong ICT Expo, HKTDC Hong Kong International Lightening Fair - Spring Edition, HKTDC Hong Kong Gifts and Premium Fair, HKTDC Hong Kong Houseware Fair and Hong Kong International Printing and Packaging Fair.
He said that he had held meetings with the representatives of various trade bodies and chambers since he started off his visit to Pakistan, adding that he is also going to hold meetings with the Chief Executive of Trade Development Authority of Pakistan and President of FPCCI on Friday. He said that he had meetings with rice and seafood exporters as part of his trade overture. Yip said that the Pakistan Gems and Jewellery Development Company will also take part in the October trade fair this year.
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