Hong
Kong: A World Jewel
Remarks
by the Hon. David Kilgour,
Secretary
of State (Asia-Pacific)
and Member of Parliament
for Edmonton Southeast,
to
the HKETO Trade Mission
Hong
Kong
November
9, 2002
Thank you
Ms. Ure, for your kind introduction. Secretary
Tang, Minister Norris, Mr. Brotman, ladies
and gentlemen. It is a pleasure to be here
today and to convey the greetings of Prime
Minister Jean Chretien and of the government
of Canada.
In real estate:
it is often said that there are three keys
to success. Most of you probably know this.
The first is: location. The second: location....And
the third - yes - is also location! The
same principle often also applies to business
and trade. Nowhere is this more evident
than here in Hong Kong.
For the Canadians
here in the room, there’s no doubt
about it: you've come to the right place.
As the high-tech node for traders and bankers
in East Asia and the services centre for
Southern China, it is uniquely suited to
put Canadian businesses - like those here
today - on the fast track to China. At the
mouth of the Pearl River - which was recently
described by the Economist as the contemporary
equivalent of 19th century Manchester: a
workshop of the world - Hong Kong’s
location makes it the ideal entry for businesses
with their eyes on Southern China.
My own visit
to Southern China in August opened my eyes
to the potential of this incredible market.
In terms of numbers, it boasts a population
of 165 million - 13% of China as a whole.
Total imports and exports total Cdn $220
billion a year - 40% of China_s total. Foreign
direct investment in the region is higher
still - a staggering Cdn $220. Not surprisingly,
it is the wealthiest region in China, leading
the country in terms of disposable income
and economic growth. In fact, Southern China
ranks #1 across the board: #1 in trade volume,
trading history, and FDI.
With almost
100 million per year and almost 20,000 trucks
daily crossing between Hong Kong and Schezhen,
the region is also home to the busiest border
in the world.
What does
this mean for you? Opportunities! And the
best entry point is Hong Kong.
It’s
easy to see why this visit is tremendously
important, both for Canadians and for their
counterparts in Hong Kong and China. Adding
to Hong Kong’s unrivaled location is
its openness and the sophistication of its
business people. In fact, the Fraser Institute
ranks Hong Kong to be the “freest”
economy in the world.
Then, of
course, there’s the high tech sector.
Hong Kong’s reputation is unsurpassed.
But Canada too is a leader in innovation,
which makes Canada and Hong Kong an enviable
match. More than 540,000 Canadians, for
example, earn their living in the IT sector.
In the year 2000, these workers generated
more than $39 billion in Canadian exports.
The 44 companies
here today are representative of Canada’s
drive towards even greater innovation. One
company on this mission, La Face Cachee
de la Pomme, is here to market its own brand
of iced apple cider. Another company, De
la Fontaine, recently secured a contract
to supply and install 2000 fire rated doors
to the police headquarters in Hong Kong.
Even the harbour-facing glass curtain wall
of this very building was supplied by a
Canadian company, Fulton Window of Ontario.
These companies,
and the others on this mission, are here
to foster new partnerships and explore new
markets. Whether in ICT, the environment,
biotech, or other sectors, they all have
the vision, desire, and drive to succeed.
This is not to say that doing business in
other markets, even those as attractive
as Hong Kong, is always easy. Canadian companies
will encounter their share of challenges,
as they do when they conduct businesses
in other parts of the world. As Canadians,
however, we’re fortunate to have excellent
help, led by the Canadian Consulate General
and Consul General, Tony Burger, here in
Hong Kong.
Then there
are our partner organizations, such as the
HKETO and the Hong Kong-Canada Business
Council. Their assistance is invaluable.
On a personal
level, to the Canadian companies in the
room - please accept my thanks for taking
the initiative to be here today. To the
HKETO, the Consulate General and the HK-CBC,
thank you for the excellent support you
offer to help firms like these succeed.
I especially want to congratulate the HKETO
for doing such a splendid job in organizing
this mission.
And to those
of you continuing on to Southern China,
I’m rather envious. You’re in
for a treat! On that note, best of luck
in your sessions and meetings. May your
visit be rewarding and your rewards replete.
Thank you.
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