The Bulletin

Chamber in Review

The Bulletin. July 2024

International Connections

It was a pleasure to welcome Sameer Abdulla Nass, Chairman of the Bahrain Chamber of Commerce, and his delegation to HKGCC on 27 May, where they met with Chairman Agnes Chan. HKGCC signed an MoU with the Bahrain Chamber during our mission to the kingdom in April, so both parties are eager to work towards mutually beneficial projects.
The Bahrain Chamber, which has around 40,000 corporate members, lobbies the government to improve the business environment. It also advises on its economic development, so Nass was eager to hear about Hong Kong’s experiences and future plans. Chan proposed a few projects which would bring benefits for both chambers and how Bahraini businesses could gain from the Greater Bay Area.

Ali Hasan, Senior Manager for Exhibition World Bahrain, which is managed by ASM Global, called on the Chamber on 7 June, following our initial contact with him during the HKGCC business mission to Bahrain in April. Asia, Africa & Middle East Committee then Vice Chairman Dewan Saiful Alam and Director for PR & Programs Malcolm Ainsworth welcomed Hasan, who introduced the new exhibition facility and the very generous incentives offered to companies interested in using it, from conferences to international exhibitions.
For example, companies planning on trying out an exhibition or conference for at least three years, can enjoy 100% free rental for the first year, 75% off on the second year, and 50% off on the third year of the event. In its first year of operation in 2023, it hosted 180 events, and in the first half of 2024, already held 130 exhibitions and events. Members can find more details at ewbahrain.com or contact the Chamber.

Asia, Africa and Middle East Committee then Chairman Jonathan Lamport met Young-jun Chung, Director-General for Economy and Employment Planning, Seoul Metropolitan Government, and Bon-hi Gu, Director, Invest Seoul, on 11 June ahead of the Seoul Forward conference to discuss potential opportunities for collaboration. Given Hong Kong’s advantage as a growing regional I&T hub, Lamport suggested the biotechnology, energy and industrial 4.0 sectors and recommended that interested businesses get in touch with the Office for Attracting Strategic Enterprises (OASES).
Lamport also delivered the welcome remarks at the conference, which was attended by over 100 local companies interested in expanding into the Korean market. The event was organized by the Seoul Metropolitan Government and Invest Seoul, in collaboration with HKGCC.

It was an honour to welcome Consul General of Mongolia Khulan Onkhoon, and her team, Consul Javkhlantugs Nyamdorj and Vice Consul Myagmarsuren Buuveibaatar, to the Chamber on 6 June. Chamber Chairman Agnes Chan and Yolane Japhet, Vice Chairman of the Asia, Africa and Middle East Committee, welcomed the Consul General.
Khulan, who took up the post in Hong Kong in August last year, said to further promote Hong Kong-Mongolia trade and investment, discussions were underway on a double taxation agreement, which she hoped would be finalized this year. With Mongolia’s real GDP growth forecast to grow by a very healthy 6.5% in 2024, Khulan said it was the perfect time for Hong Kong businesses to explore opportunities there.

We had a lively discussion at the Asia, Africa & Middle East Committee meeting on 26 June. Jonathan Lamport provided a debriefing on the Chamber’s recent mission to Bahrain and the United Arab Emirates, while delegates who joined the trip shared their observations and advice for developing business in the two booming Gulf countries. Lamport said the mission was made possible with the strong support of Shaikh Saoud Ali Almualla, Consul General, Consulate General of the UAE and his team, and also the Bahrain Honorary Consul Oscar Chow, the Hong Kong Bahrain Business Association.
At the meeting, Dewan Saiful Alam was elected as the new Committee Chairman, taking over the reins from Lamport, who completed his third term.

Americas Committee

Uncovering Emerging Trends in Latin America

Alice Tsang, Principal Economist (Global Research) at HKTDC, shared her insights into the latest market developments and emerging trends in Latin America at the Americas Committee Meeting on 20 June.

Tsang gave a comprehensive overview of the LATAM market, highlighting key economic indicators such as GDP, trade statistics and the rapid growth of e-commerce. Drawing from her recent business trip to the region, Tsang noted the smooth progress of FTA negotiations between Hong Kong and Peru, Mexico’s infrastructure upgrades to enhance its position in the global supply chain and Chile’s vibrant business environment for startups.

During the same meeting, Mark C Michelson was newly elected Chairman. Susana Muñoz Enríquez was re-elected as Vice Chairman, while Simon Chan and Yazdi Parekh were newly elected Vice Chairmen.

Asia, Africa & Middle East Committee

Expanding Cooperation with Bahrain

The Bahrain Chamber, which has around 40,000 corporate members, lobbies the government to improve the business environment. It also advises on its economic development, so Nass was eager to hear about Hong Kong’s experiences and future plans. Chan proposed a few projects which would bring benefits for both chambers and how Bahraini businesses could gain from the Greater Bay Area.

For example, companies planning on trying out an exhibition or conference for at least three years, can enjoy 100% free rental for the first year, 75% off on the second year, and 50% off on the third year of the event. In its first year of operation in 2023, it hosted 180 events, and in the first half of 2024, already held 130 exhibitions and events. Members can find more details at ewbahrain.com or contact the Chamber.

Strengthening Ties with Seoul

Lamport also delivered the welcome remarks at the conference, which was attended by over 100 local companies interested in expanding into the Korean market. The event was organized by the Seoul Metropolitan Government and Invest Seoul, in collaboration with HKGCC.

Exploring Opportunities in Mongolia

Khulan, who took up the post in Hong Kong in August last year, said to further promote Hong Kong-Mongolia trade and investment, discussions were underway on a double taxation agreement, which she hoped would be finalized this year. With Mongolia’s real GDP growth forecast to grow by a very healthy 6.5% in 2024, Khulan said it was the perfect time for Hong Kong businesses to explore opportunities there.

Bahrain, UAE Mission Debriefing

At the meeting, Dewan Saiful Alam was elected as the new Committee Chairman, taking over the reins from Lamport, who completed his third term.

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