On 21 November 2014, an Agreement of Cooperation was signed between Hong Kong-Vietnam Chamber of Commerce and Vietnam Chamber of Commerce and Industry in Ho Chi Minh City. Mr Gregory So, Secretary for Commerce and Economic Development of the Hong Kong Special Administrative Region officiated at the ceremony. Witnessing are Mr Chai Wen Rui, Consul General of the People’s Republic of China, Mr. Nakajima Satoshi,Consul General of Japan and Mr. Moon Byung Chul, representing Consulate General of the Republic of Korea. The agreement will help to further expand trade and investment between Hong Kong and Vietnam as well as Mainland China and the other Asian economies.

Speaking at the signing ceremony, Jonathan Choi, Chairman of HKVCC said the agreement would help enterprises of Hong Kong, China and Vietnam expand business ties.

This cooperation deal will pave the way for setting up a forum for businesses from both sides to share ideas and explore Business Opportunities.

Doan Duy Khuong, Vice Chairman of VCCI, said HKVCC and authorities in Hong Kong have coordinated with VCCI to support Vietnamese companies to do business with China and Hong Kong partners.

Over the past years, Vietnam-Hong Kong trade ties have been growing. As of October, bilateral trade reached US$4.96 billion, up 22.68% year-on-year. Vietnam’s exports to Hong Kong amounted to US$4.11 billion, up 30.38% against the same period last year, and its imports totaled US$850.5 million, down 4.59%.

Vietnam-Hong Kong trade involves fabric, garment, textile, footwear, computer, electronic devices, spare parts, machinery, seafood, timber and timber products.

Hong Kong had had 853 projects with total investment pledged capital of US$14.1 billion in Vietnam as of 20 October 2014.

In 2015, the ASEAN-China Free Trade Area will come into force with over 7,000 products enjoying a tariff of 0%.

Dr Jonathan Choi, Chairman of HKVCC spoke at the ceremony

Dr Jonathan Choi (left) and Dr Doan Duy Khuong, Executive Vice President
of VCCI signed the Agreement of Cooperation

Dr Choi proposes a toast at the signing ceremony with Mr Gregory So, Secretary
for Commerce and Economic Development of the Hong Kong SAR Government
(third from right), Mr. Chai Wen Rui, Consul General of the People’s Republic of
China (second from left), Mr. Nakajima Satoshi, Consul General of Japan
(second from right) and Mr. Moon Byung Chul, representing Consulate General of
the Republic of Korea (first from right)

Dr. Jonathan Choi with members of HKVCC, VCCI and guests