Malta Enterprise is to lead a business delegation to Guangzhou and Hong Kong in June in a bid to support local firms venturing into the market or seeking possible trade cooperation.
Guangzhou has overtaken Shanghai to top Forbes list of the most business-friendly cities in China published late last year.
According to Forbes, this newly-gained ranking on the list of best commercial cities is justified as the city has become the fastest growing by taking advantage of its geographic proximity to Hong Kong.
Hong Kong’s reputation as one of the leading international financial centres speaks for itself, while it also ranks high in various aspects such as economic freedom, financial and economic competitiveness.
Hong Kong has a major capitalist service economy characterised by low taxation and free trade, and its currency, the Hong Kong dollar, is the ninth most traded currency in the world despite the fact that its area is barely three times the size of Malta and its population is just seven million.
Having recently overtaken Japan to become the world’s second biggest economy, China is expected to keep the momentum going and grow even further in the coming years, presenting various opportunities for trade and investment.
Malta exported €61.2 million to China in 2010, mostly electrical machinery and equipment. It imported a wide variety of goods from China valued at €117.8 million, including electrical machinery and equipment, organic chemicals, machinery and mechanical appliances, as well as furniture and fittings, among others.
These figures do not include trade with Hong Kong, to where Malta exported over €162 million worth of goods, almost entirely made up of electrical machinery and equipment. It imported over €12 million worth of goods.
The business delegation will provide another opportunity to explore this vast market, following up on last year’s delegation to Beijing, Shanghai and Ningbo.
Malta Enterprise is receiving applications from entrepreneurs interested in joining the trade mission. Company representatives will receive a reimbursement of up to 60 per cent of the cost for an economy-class air fare, and a per diem allowance.
Businesses will also be assisted in establishing contacts and business leads through networking events and pre-arranged one-to-one meetings that Malta Enterprise shall be organising.
Further information is obtainable from www.maltaenterprise.com or by contacting Malta Enterprise on Tel 2542 0000 or e-mail internationalisation@maltaenterprise.com.