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Business seminar Hong Kong – Your partner for success in China



Mrs. Gabriela Dimitrova, Director “International Cooperation and International Organisations”
 
On 1st March 2011, in Sofia, a business seminar “Hong Kong – Your Partner for Success in China” was held. The seminar was organized by the Hong Kong Economic and Trade Office, Brussels and the Budapest Regional Office of the Hong Kong Trade Development Council. The Council was created in 1966 and has 40 offices in 35 countries. 
The seminar is organized for the third consecutive year. In her opening remarks, the Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Miss Mary Chow, outlined the perspectives of the Hong Kong market. During the seminar Hong Kong’s enduring advantages as the world’s freest economy with stringent intellectual property protection regime and low and simple taxation system / 5% VAT, 16,5% profit tax/ were presented. In Hong Kong there is a strong legal protection for contracts and arbitration awards made in Hong Kong and the Mainland are reciprocally enforceable. 
Hong Kong is a potential market for Bulgarian wines – there is a demand for high-quality wines and just recently the import duties for these products have been removed. Besides, the largest wine auctions are held in Hong Kong. The biggest advantage, however, is the special customs regime with China, which allows every producer from Hong Kong to export its products to the Mainland market, without having to pay customs duties. 
In addition to the traditional industries in financial services, trade and logistics, tourism and professional services, six new economic sectors where Hong Kong enjoys a competitive edge have been identified, namely: testing and certification services, medical services, innovation and technology, cultural and creative industries, environmental industries and educational services.
On behalf of the Bulgarian Chamber of Commerce and Industry, Mrs. Gabriela Dimitrova, Director “International Cooperation and International Organisations”, greeted the participants in the seminar – around 110 representatives of the Bulgarian business community, and repeated the invitation made in 2009 to the Hong Kong Trade Development Council by the BCCI President – to open a representative office of the Council in Bulgaria, which will assist and improve the economic cooperation with our country. This will facilitate the access of Bulgarian companies to Chinese partners /over 5.4 M companies/.  
Mr. Siegfried Verstappen, Senior Investment Promotion Executive of the Investment Promotion Agency of Hong Kong “InvestHK”, explained the conditions for investing in Hong Kong and the services provided by InvestHK. He also highlighted the new opportunities in Hong Kong arising from the introduction of China’s renminbi trade settlement scheme, which allows international trade to be settled in Chinese yuan with reduced currency exchange risks.
The Hong Kong Trade Development Council and especially its Budapest office will assist the participation of Bulgarian companies in a number of trade fairs in Hong Kong. The Director of the Council, Mr. Vinchel Chong introduced the Bulgarian entrepreneurs to several programmes - sponsorship, partnership programmes, etc.  
Mrs. Boryana Mincheva, Head of “International Cooperation, Development and Internationalisation of SMEs” Department, Bulgarian Small and Medium Enterprises Promotion Agency, presented the Agency’s programme for assisting Bulgarian companies in their participation in international fairs and exhibitions. In November 2011, Bulgaria is going to participate in a wine fair in Hong Kong. 
Mr Vladimir Atanasov, General Manager of the Bulgarian souvenir company “10x” Ltd., and Mr Venelin Djourov, Manager of “LVK – Vinprom” AD, Targovishte made presentations about some good practices in Hong Kong. 
After the seminar, the Bulgarian Chamber of Commerce and Industry and InvestHK agreed to organize a joint event – seminar/presentation in May – June 2011. 

01.03.2011

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