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(Established in 1955‧一九五五年成立)

Press Release (For Immediate Release)	10 December 2007



HKEA Christmas Luncheon concluded in success

Held on 7 December 2007, The Hong Kong Exporters’ Association’s Christmas Luncheon concluded with well attendance by more than 200 government officials, local consulates, HKEA members, important exporters as well as major trade and industrial organisations.

The luncheon was hosted by the guest of honour, the Ho nourable John Tsang, JP, the Financial Secretary of the HKSARG.

The chairman of the association, Tom Tang, JP, commenced the luncheon by announcing that Hong Kong ’s total exports amounted HK$2,212 billion in the first 10 months of 2007, reaching its record high.

While the exports of Hong Kong remain promising in 2008, Mr Tang reminded the attendants that there were still many challenges ahead. “In particular, Hong Kong manufacturers are facing major crisis with the sudden change in the processing trade policy by the Central Government, banning import of certain key raw materials and implementation of deposit for certain imported materials. Meanwhile, the recent massive recalls of toys and other products that were made in China have badly hit some in the international export business,” he said.

To address to these challenges, Mr Tang urged Hong Kong manufacturers and exporters to look at how to enhance their competitiveness amid the changing manufacturing environment in China and market place in the international market. “If we want to compete globally and maintain our production in the Ma inland, then we must move onward and upward the value chain. Ma nufacturers can no longer focus on low-cost production of low-value products. We have to re-orient ourselves to meet the changing needs of our markets. We can no longer compete on cost advantage, instead, we should add more value to our goods and services; we should upgrade our products, facilities and production technologies; and, we should develop new markets. After all, our competitive edge is built on our design and innovative capability, as well as our high quality products.”

Meanwhile, Mr Tang encouraged exporters to look into trade opportunities from emerging markets in Asia, the Middle East, Eastern Europe as well as in Southern America .

In his speech during the luncheon, Mr. John Tsang echoed Mr. Tang by advising exporters to focus on their traditional as well as new markets. “The Ma inland has become an increasingly important export market for Hong Kong as well as many other Asian economies, not just at Christmas, but all year round. This reduces our region's dependence on the US economy, and should help Hong Kong and the rest of Asia to better withstand the US slowdown. The gradual strengthening of the Renminbi has also boosted Ma inland's import demand, and helped to diffuse some international tension on the trade front.

“We will continue to explore new ways to boost cross-boundary trade through more efficient infrastructure and the breaking down of trade barriers, especially in the Pearl River Delta Region. We should also make better use of CEPA to generate more business opportunities,” he said.

Mr. Tsang appreciated the efforts of exporters and assured them that the government is working to sharpen Hong Kong 's edge as a major centre for international trade in the region by launching major infrastructure projects that will make it easier, quicker and cheaper to move people and goods around our neck of the woods in future.

The Hong Kong Exporters’ Association Room 825, Star House 3 Salisbury Road Tsimshatsui, Kowloon Hong Kong Tel: 2730 9851 Fax: 2730 1869 Email: exporter@exporters.org.hk Website: www.exporters.org.hk

Founded in 1955, The Hong Kong Exporters’ Association (HKEA) is committed to safeguarding the interests and progressing the business opportunities of its member exporters. Currently, the HKEA has more than 650 members which specializes in diverse areas of export and re-export trade, as well as manufacturing. Disclaimer: This message including any attachments, is intended only for the use of the addressee(s) and may contain information that is privileged, confidential and/or subject to copyright. Any other distribution, copying or disclosure is strictly prohibited. If you are not the intended recipient or have received this message in error, please notify us immediately by replying e-mail or contacting info@exporters.org.hk and permanently delete this message, including any attachments, without reading it or making a copy. Thank you. If you do not want to receive any messages from our association, please reply the following email: info@exporters.org.hk.