HKTDC Establishes Presence In Israel

	From left: Sagi Karni, Consul General of Israel in Hong Kong and Macau; Yitzhak Cohen, Deputy Minister of Finance of Israel; CY Leung, Chief Executive of the Hong Kong SAR Government; Zhan Yongxin, Ambassador of the People's Republic of China to the State of Israel; Margaret Fong, Executive Director, HKTDC and Roni Wolf, Tel Aviv Consultant, HKTDC attend the opening reception for the HKTDC’s Consultant Office in Tel Aviv, Israel
	CY Leung, Chief Executive of the Hong Kong SAR Government, says that Hong Kong is well placed to serve Israeli companies to manage their supply chains
	Yitzhak Cohen, Deputy Minister of Finance of Israel, speaks at the opening reception of the HKTDC’s Consultant Office in Tel Aviv
	Margaret Fong, Executive Director of the HKTDC, says the new Tel Aviv office will help to lift bilateral trade links between Hong Kong and Israel to the next level
	Margaret Fong (right), Executive Director of the HKTDC, speaks with Yitzhak Cohen (left), Deputy Minister of Finance of Israel, at the reception

15 October 2015 – The Hong Kong Trade Development Council (HKTDC) strengthened its global network by opening a Consultant Office in Israel, expanding the Council’s footprint to 47 offices around the world. A reception was held in Tel Aviv, Israel yesterday (14 October) attended by more than 200 businesspeople from Hong Kong and Israel.

CY Leung, Chief Executive of the Hong Kong SAR Government, and Yitzhak Cohen, Deputy Minister of Finance of Israel were guests of honour at the reception held at the Crowne Plaza, Tel Aviv City Centre. Among the attendees were Zhan Yongxin, Ambassador of the People's Republic of China to the State of Israel and Sagi Karni, Consul General of Israel in Hong Kong and Macau.

Opening doors to business
Speaking at the reception, Margaret Fong, Executive Director of the HKTDC, said: “In 2014, bilateral trade between Israel and Hong Kong reached US$5.7 billion, a year-on-year increase of over 16 per cent. This is an impressive trend and, through our Tel Aviv office, the HKTDC will be able to help lift our bilateral trade links to the next level.”

Strong Hong Kong-Israel trade ties
Israel is Hong Kong's second-largest export market in the region, with exports valued at US$2,447 million in 2014. In the first seven months of 2015, Hong Kong's exports to Israel increased 1.8 per cent year-on-year to US$1,395 million. Major export items included pearls, precious & semi-precious stones (75.5%), telecom equipment & parts (5.9%) and computers (2.6%). On the other hand, Hong Kong's imports from Israel amounted to US$1,705 million in the same period, with the category of pearls, precious & semi-precious stones accounting for 86.7 per cent of the total.

New Opportunities in Belt and Road era 
Ms Fong highlighted business and investment opportunities related to China’s Belt and Road Initiative, comprising the 21^st Century Maritime Silk Road and the Silk Road Economic Belt linking China with Europe.

“From the HKTDC’s perspective, we are actively exploring ways that the Belt and Road can benefit Hong Kong businesses and our partners around the world,” said Ms Fong. “We would like to see more companies from Israel join us on this journey.”

Also speaking at the reception, Mr Leung said the Belt and Road Initiative would produce a “win-win” result by promoting bilateral and multilateral trade. “The advance of ‘Belt and Road’ will no doubt induce merchandise trade across the borders,” said Mr Leung. “As the well-known aviation, maritime and logistics hub of the region, Hong Kong is well placed to serve Israeli companies to manage their supply chains.”

Hong Kong: springboard to China markets
Ms Fong outlined Hong Kong’s competitive advantages, including the city’s proximity to the Chinese mainland and close cross-border business, financial, cultural and linguistic links with the mainland. Hong Kong is also ranked as the world’s freest economy by the United States-based Heritage Foundation. These characteristics, Ms Fong said, made Hong Kong an ideal place for Israeli companies to connect with markets on the Chinese mainland and across Asia.

HKTDC: a global network
Including Israel, the HKTDC has 47 offices around the world, among which 25 are in Asia and 13 are on the Chinese mainland. The Council’s presence across Asia and around the world helps to connect international enterprises to partners in Hong Kong and promote Hong Kong’s advantages as Asia’s central business district.

Ms Fong encouraged more Israeli companies to take part in the nearly 40 trade fairs and conferences organised by the HKTDC in Hong Kong each year, to source products, meet investors and strengthen their business networks in the region.

HKTDC website: http://www.hktdc.com/

Media Enquiries
Please contact the HKTDC Tel Aviv Consultant Office
Galit Zahavi   Tel: (972)-52-6333644  Email: galit.zahavi@hktdc.org
Or the HKTDC's Communication and Public Affairs Department:
Joe Kainz     Tel: (852) 2584 4216           Email: joe.kainz@hktdc.org

About the HKTDC
A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and services providers. With more than 40 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in overseas markets, while providing information via trade publications, research reports and digital channels including the media room. For more information, please visit: www.hktdc.com/aboutus.