Economy, Domestic Economy

Hong Kong Exploring Areas of Cooperation

Hong Kong Exploring Areas of Cooperation
Hong Kong Exploring Areas of Cooperation

Economic players in Hong Kong are prepared to cooperate with their Iranian counterparts in a wide range of fields, including tourism, electronic equipment, insurance and finance. Hong Kong’s Financial Secretary John Tsang Chun-wah made the above statement in a meeting with the secretary of Iran Chamber of Commerce, Industries, Mines and Agriculture, Reza Ashraf, on Wednesday.

Chun-wah is heading a 30-member delegation to Tehran, ILNA reported.

In a meeting with his Iranian counterpart, Ali Tayyebnia, on Tuesday, the two sides signed a memorandum of understanding on economic cooperation.

Also on Tuesday, Chun-wah discussed ways of increasing banking relations with the Central Bank of Iran Governor Valiollah Seif.

The visiting official also held a meeting with Iran’s Minister of Cooperatives, Labor and Social Welfare Ali Rabiei and surveyed prospects of cooperation in the fields of finance, logistics and information and communications technology.

“At present, trade volume between Iran and Hong Kong is meager and lacks diversity. We need to expand our commercial ties,” Rabiei said.

According to the Islamic Republic of Iran Customs administration, Iran exported $325.5 million worth of non-oil goods to Hong Kong in the last Iranian year (March 2015-16), registering a 40% decline compared to the year before. Imports stood at $82.2 million, down 22%.

IRICA’s latest statistics on bilateral trade show Iran exported more than 15,600 tons of non-oil goods worth $123 million to Hong Kong during the seven months to October 21, registering a 2.5% increase in value year-on-year. Imports amounted to 66,000 tons worth $53 million, up 10%. Pistachio, saffron, chemicals, plastic waste, figs, caviar and carpets are Iran’s main exported commodities to Hong Kong. Imports mainly include grain, steel products, cellphones, POS machines, computers, pharmaceuticals, watches, electronic devices and cameras.

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