Hong Kong, 3 November 2022 – The Department of Trade and Industry (DTI) Secretary, Alfredo E. Pascual, highlighted in his keynote speech the Philippines’ location as gateway to other ASEAN countries, making it an ideal complement to Hong Kong and Mainland China businesses that seek expansion, at the recently held Hong Kong – ASEAN Summit 2022, organized by the South China Morning Post (SCMP) on 3 November, 2022. This participation was supported by the Philippine Trade and Investment Center (PTIC) Hong-Kong, together with the Philippine Consulate General in Hong Kong SAR.
In addition, the PH trade chief emphasized the importance of the relationship between the Philippines and Hong-Kong by citing the trade performance between the two countries.
“The Philippines and Hong Kong have enjoyed longstanding economic and trade relations. In 2021, Hong Kong was our 4th largest export market, with a total value of USD9.9 billion. This amount represents about 14% of the country’s total exports. With trade growing through the years, Philippine exports to Hong Kong increased by 7.7% from USD9.2 billion in 2020, and imports from Hong Kong increased by 17.4% to USD3.3 billion in 2021.”
“Hong Kong remains one of the top trading partners of the Philippines. We intend to continue building our strong economic ties with Hong Kong in the future through the Joint Economic Committee, among others,” he added.
Officially opened by SCMP Chief Executive Officer, Ms. Catherine So, and Hong-Kong – ASEAN Foundation Chairman, Mr. Daryl Ng, the Summit brought together business leaders, policymakers and entrepreneurs from Hong Kong, Mainland China, and around the world to discuss and debate what the immediate future holds for Hong Kong and ASEAN. Industry experts deliberated on Hong Kong’s future as a super connector for China and ASEAN; and how they can all work together with Hong Kong to improve their economies.
Other keynote speakers were Mr. John LEE, Chief Executive of the Hong Kong Special Administrative Region (SAR) and Mr. Ong Ye Kung, Minister for Health of the Republic of Singapore.
The Hong Kong – ASEAN Summit attracted 200 participants in the business and government sector who attended in person and recorded 800 participants online. In addition, it was streamed again later in the day to cater United States of America residents which is SCMP’s highest source of readers (at least 40 percent).
For more information about the Hong Kong – ASEAN Summit, please visit their official website at: https://hkaseansummit.scmp.com/ or contact the PTIC-HK at hongkong@dti.gov.ph. You may also follow the official Facebook page of the PTIC-HK at DTI Hong Kong to obtain more information. ♦
Date of Release: 3 November 2022