Hong Kong records 16pc export growth, eyes new markets in Latin America and Africa

Secretary for Commerce and Economic Development Algernon Yau Ying-wah stated that Hong Kong's export performance continues to improve, with plans to actively explore emerging markets such as Latin America, Central Asia, and Africa in the future.

Speaking on a radio program on Sunday (Nov 9), Yau noted that Hong Kong has recorded a 16 percent growth in exports, with major markets including Vietnam, Malaysia, Taiwan, and India. 

Export products cover electrical appliances, medical supplies, and food, among other items.

Yau expressed confidence in the export outlook, believing that economic cooperation between Hong Kong and the Association of Southeast Asian Nations (ASEAN) will strengthen further if the US lowers tariffs in the future.

Separately, Yau also attended the China International Import Expo in Shanghai last week to promote the work of the Task Force on Supporting Mainland Enterprises in Going Global.

He reiterated Hong Kong’s advantage in assisting mainland enterprises in addressing challenges such as insufficient knowledge of overseas markets, regulatory differences, and language barriers.

Yau mentioned that many mainland enterprises and government officials expressed interest in leveraging Hong Kong as a platform to go global, with involvement from industries such as banking, innovation, and technology.

He emphasized that the primary target markets are the ASEAN and Middle East regions, and the industries involved will depend on local demand, including high-value-added sectors, innovation and technology, artificial intelligence, and finance.

The task force is expected to submit its first report by the end of the year.