HKNZBA co-hosted a Head of Mission breakfast with the Japanese New Zealand Business Council and the Korean New Zealand Business Council.
Gabrielle Rush, the New Zealand Consul-General to Hong Kong and Macao, gave an interesting overview of the current economic situation in Hong Kong.
She emphasised the value of Hong Kong in its own right, as New Zealand’s 11th largest trading partner. It is a global financial centre and regional hub and this is very unlikely to change in the near future, even with the rise of Shanghai.
Although the economy in Hong Kong has slowed down, especially in retail in tourism, Gabrielle asserted that it would be a long time before the political situation with China affects the Hong Kong economy. The Hong Kong Government is working hard to maintain good relations with China, and to ensure that good economic conditions remain. Although the downturn is affecting some parts of the retail sector, it is not affecting the entire market, and Gabrielle is confident that this decline is only temporary.
Gabrielle identified opportunities in technological start ups, natural cosmetic products and horses.
She is looking forward the Hong Kong Sevens, not only for the rugby, but for the opportunities to showcase New Zealand for its products and as a destination, as it is the biggest week of corporate hospitality in the year.
We would like to thank MFAT for making this event possible, BNZ for hosting, and to all the speakers at the event.