Any Utah business interested in a bi-i-i-i-g customer base should take a look at Hong Kong, which buys plenty from the United States but perhaps more importantly can serve as an efficient, English-speaking gateway into the massive market of China.
That is the pitch being made by Tony Wong, director of the Los Angeles-based Hong Kong Trade Development Council. Wong has been visiting Salt Lake City to prepare for a June 6 seminar on trading with Hong Kong and to connect with local businesses that could find a built-in Asian market.The seminar will be hosted by the Salt Lake Area Chamber of Commerce and other sponsors.
"Hong Kong has just come out of the Asian economic crisis," Wong said. "The government was able to announce the recession is over for Hong Kong, and we are seeing growth again. Growth is very strong in such sectors as information, technology and the Internet."
Also hot is the natural foods/herbal health supplement sector, which is popular both in Hong Kong and China.
Hong Kong also wants more environmental companies to do business in that country.
"Hong Kong is starting to expend more of its resources to improve the quality of life, and the environment is one area that it is working on," Wong said.
Meanwhile, China is lobbying for admission into the World Trade Association, which would open the door to an enormous amount of international business, he said.
"When that opens up, we want to catch the attention of small and medium enterprises in Utah. Against this backdrop, we felt that companies in Hong Kong could be potential partners to help them get into the China market," Wong said. "Hong Kong has served in the role of gateway in the past."
Utah companies might do well linking up with a Hong Kong firm since Hong Kong business people have been working with China for a long time. They understand what it takes to get things done in China and how to make money in that market.
The Hong Kong Trade Development Council is a quasi-government organization that promotes trade. "We're providing a matchmaking situation. We're also a resource of information of suppliers and buyers of products and services in Hong Kong," Wong said.
More information is available at www.tdctrade.com.