The Federation of Hong Kong Industries (FHKI) and the Thai Hong Kong Trade Association (THKTA) have recently signed a Memorandum of Understanding (MoU) to strengthen bilateral trade between the two regions.
The FHKI chair, Steve Chuang, emphasized the importance of ASEAN countries and Thailand as prime destinations for Hong Kong manufacturers to expand their businesses beyond China. This expansion aims to mitigate risks and diversify supply chains.
Chuang highlighted that ASEAN countries offer a unique opportunity for Hong Kong manufacturers due to their emerging consumer market, favorable trading climate, and strategic location in global trade routes. Therefore, establishing strong collaborative frameworks, such as the MoU between FHKI and THKTA, becomes crucial to support industrial development in Thailand and Hong Kong.
Both parties will collaborate in various fields, including economy, business, trade, and human resource management. Thailand holds a special status as a close trading partner with Hong Kong and offers attractive opportunities due to its large and skilled labor force of nearly 40 million workers. Additionally, Thailand’s expanding middle class presents a promising market for Hong Kong’s export sectors.
The signing of the MoU is expected to enhance trade and business connectivity between the two regions and foster greater economic development. This development brings excitement and optimism for both parties.
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