Hong Kong Opens New Doors for Turkish Exporters

Consul General Kerim Sercan Evcin Encourages Increased Export Activity in Fresh Produce and Organic Goods

Hong Kong is presenting new opportunities for Turkish exporters, especially in the sectors of fresh vegetables, fruits, and organic agricultural products. The Consul General of Turkiye in Hong Kong, Kerim Sercan Evcin, emphasized the potential for increased interest from Turkish exporters in this thriving market. With a gross domestic product of $377 billion and a per capita income of around $50,000, Hong Kong ranks high on the Human Development Index.

Evcin highlighted Hong Kong’s significant rise in the international financial system since the latter half of the 20th century and its anticipated continued importance in the global economy in the 21st century, often referred to as the “Asian Century.”

Noting Hong Kong’s robust banking and insurance traditions and its full integration into international financial markets, Evcin pointed out that the Hong Kong Stock Exchange is one of the most renowned and dynamic globally. The total value of assets traded on Hong Kong’s financial markets is approximately $4 trillion. As a free port with no customs duties on imports and exports, Hong Kong boasts a foreign trade volume of about $1.2 trillion, making it China’s most crucial re-export hub.

Evcin stressed Hong Kong’s importance in global maritime trade and connectivity and its privileged position in the “Belt and Road Initiative” launched by the Beijing administration around 11 years ago. He underscored Hong Kong’s role as a major operational center in the global logistics sector, highlighting projects by the Hong Kong Special Administrative Region Government, which aim to make the region the heart of connectivity in the Asia-Pacific.

Leading in Green Bonds and Financial Innovation

Evcin mentioned Hong Kong’s leadership in the issuance of green bonds in Asia and its pioneering role in sustainable finance. He also noted Hong Kong’s advancements in financial technology research and development, which could position it at the forefront of technological innovation.

The Hong Kong Monetary Authority is running the world’s first official digital currency project, with expectations that the “electronic Hong Kong dollar” will become the first officially used digital currency through a blockchain-focused pilot application.

Call for Increased Export Activity

Evcin urged Turkish exporters to capitalize on the opportunities in Hong Kong, particularly given that manufacturing contributes only about 1% to Hong Kong’s GDP. He stated, “Hong Kong offers significant opportunities for exporters. We expect our exporters to show more interest in Hong Kong, especially in fresh vegetables, fruits, and organic agricultural products. The approximately $2.5 billion trade volume between Turkiye and Hong Kong does not reflect the true potential. Hong Kong is also a convenient gateway to the mainland China market. Products that gain popularity in Hong Kong can quickly enter the Chinese market. Therefore, targeting the Hong Kong market, which has no customs duties, is a strategic move for exporters aiming at China.”

Source: AA / Prepared by Irem Yildiz

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