Chamber Director Dr Eden Woon and International Business Organisation of Osaka, Inc. Executive Director Yasuharu Ikeda on Feb. 19 signed a contract for the promotion of the organisation's business services in the territory.

Under the contract, CSL will assume some of the business functions of the former Hong Kong office of the International Business Organisation of Osaka, Inc (IBO). CSL will collect and provide to IBO reports and articles on economic trends in Hong Kong for distribution among IBO-member companies and organisations. CSL will also conduct surveys and research on specific trade sectors in Hong Kong from time to time as requested by IBO.

CSL's consultation services on trade and investment for IBO will be provided primarily for Osaka businesses interested in the Hong Kong market.

CSL General Manager Connie Kwok said the IBO approached the Chamber following the organisation's effort to restructure its overseas offices while still maintaining a presence in the territory.

"They discovered that we were the most appropriate to provide the same services they were offering," she said. "The new tie-up with IBO will enable CSL to establish closer economic relations with Osaka, one of Japan's largest commercial and economic zones with a high concentration of SME possessing advanced technologies."

IBO is a nonprofit trade promotion organisation jointly established by the Osaka Prefectural Government and Osaka businesses. It supports Osaka businesses expand their overseas operations and facilitates the entry of overseas businesses into the Osaka market, as well as promoting economic exchanges between Osaka and various countries and regions in the world.