SUBSCRIBE TO THE BULLETIN TODAY!

Mission to South America

HKGCC concluded an eleven-day visit to Miami, Sao Paulo, Rio de Janeiro, Buenos Aires and Santiago last month.  This was the first Chamber study mission to South America since 1992.  In each of the cities visited, the Chamber delegation was just ahead of President Hu Jintao on his South American tour before the APEC Leaders Meeting. 

During the mission, Chamber delegates met with a number of senior government officials, including: Dr Raúl de Jean, Undersecretary of Industry of Argentina; Dr Federico Poli, Undersecretary for Small and Medium Enterprises of Argentina; Alfredo Chiradia, Secretary for Trade and International Economic Relations Ambassador of Argentina; and Karen Poniachik, Executive Vice-President of the Foreign Investment Committee of Chile. The delegation also had the opportunity to meet local business people, including Ricardo Semler, President of Semco, the renowned Brazilian machinery manufacturer.

Officials briefed Chamber delegates on the general economic climate, business environment, investment incentives and support provided to investors in each of the countries visited.

Brazil's economy began to recover in 2000 and has enjoyed a trade surplus since 2002. Agriculture accounts for about a third of export earnings and to around 8.4 percent of its GDP growth.  Main crops include soybeans, for which Brazil is the world's second largest producer, sugar, cotton, cocoa, rubber and coffee as well as wheat, rice, corn and fruits. 

Argentina is rich in resources and boasts a well-educated population. Its major sectors are manufacturing, agriculture and mining.

Chile is the world's leading exporter of refined copper and is also the main exporter of potassium nitrate and iodine, claiming a 50-percent share of the world market. Moreover, Chile's exports of services have also become increasingly important, particularly in the transport industry, which represent over half of service exports, and tourism, which accounts for almost a further fifth.

David Eldon, HKGCC Deputy Chairman and mission leader, and Chamber CEO Dr Eden Woon, gave speeches in three of the South American cities visited on the positioning of Hong Kong within Pearl River Delta.  They also explained the benefits of CEPA to South American businesses, who expressed a great deal of interest in China and the role of Hong Kong in facilitating business in the Mainland. 

"The purpose of this particular mission is to explore business opportunities between South America and Asia," Mr Eldon said during one of his speeches in South America. "Our goal is straightforward: we want to learn more about business opportunities in your country and at the same time answer any questions you may have about opportunities in our city and our region. If you are interested in expanding your business in China, or anywhere else in Asia for that matter, we also want to encourage you to look at Hong Kong as an ideal base to work from."

Commenting on the mission upon returning to Hong Kong, Dr Woon said, that the warm reception delegates received from their hosts and at several large business matching receptions sent a clear signal that all these countries are looking forward to expanding their markets in China. More importantly, many were interested in using Hong Kong as a middleman.

"With their vast experience and knowledge in doing business in China, Hong Kong businessmen can use this expertise to their advantage," Dr Woon said. "On the other hand, these South American countries offer attractive import and export opportunities to Hong Kong businessmen."

The HKGCC delegation was led by David Eldon, Chamber Deputy Chairman and Chairman of The Hong Kong & Shanghai Banking Corporation Ltd, and included 20 delegates, including Chamber CEO Dr Eden Woon.


Photos >>