The Hong Kong Trade Development Council (HKTDC) plans to provide incentives to Middle East participants of six major exhibitions to be held in the city next month.

The council has announced HK$80 million (Dh38 million) assistance package for trade exhibitors and buyers of the exhibitions.

The trade shows include: the HK Electronics Fair (Spring Edition), HK Houseware Fair and HK Gifts & Premium Fair, which are all recognised as the biggest shows of their kind in Asia, as well as the HK International Printing & Packaging Fair, International ICT Expo and the new HK International Lighting Fair (Spring Edition).
        
The Middle East is a significant trading partner of Hong Kong, with trade between the two sides steadily growing. From 2006 to 2008, Hong Kong recorded double-digit growth in exports to the Middle East, said a statement.

In 2008, pearls, precious and semi-precious stones contributed the largest portion - 31 per cent of total exports, valued at US$1.77 billion. Telecommunications equipment and parts (14 per cent) and watches and clocks (5 per cent) are the other main export sectors.

The United Arab Emirates ranks as Hong Kong’s 21st trading partner. The total trade value between Hong Kong and the UAE in 2008 increased by 7.2 per cent to US$4.4 billion. There was also significant trade between Hong Kong and countries such as Turkey and Saudi Arabia.

A total of 2,664 buyers from the Middle East visited the 2008 edition of these fairs, said the statement.

“HKTDC has six major international trade fairs in April 2009,” said Cathy Yip, manager of visitor promotion, exhibitions, HKTDC. “Taking account of this upward trade movement and the potential of the Middle East, we will market them intensively to encourage more trade with this emerging market.” 

The HK$80 million assistance package is a new initiative by HKTDC and aims to sponsor buyers from emerging markets such as the Middle East to participate in various exhibitions. It also provides subsidies to Hong Kong exhibitors to assist them in strengthening their marketing efforts. – TradeArabia News Service