Hong Kong footwear manufacturers have been identified by the Thai government as a key group of potential investors in the country.
The government hopes the forthcoming signing of a Free Trade Agreement (FTA) between Thailand and South Asia economies will result in an influx of Hong Kong manufacturers to the country, seeking to take advantage of the low tariffs resulting from the agreement.
Hong Kong is the world’s largest exporter and Chinese investors have already poured millions of dollars into factories in southern China, making the Pearl River Delta one of the country’s fastest growing regions.
Speaking to the regional press, Rex Chang, director of the Singapore-based regional headquarters of the Hong Kong Economic and Trade Office said Hong Kong considers Thailand to be the hub of the Asean economic region due to its stability, diligent workforce and abundant natural resources.
Hong Kong’s investment in Thailand mainly through the stock market was worth 100 billion Thai baht (US$2.3 billion) in 2001. Bilateral trade enjoyed a “stable growth rate” of 0.8% a year between 1997 and 2001, to 200 billion Thai baht (US$4.7 billion).
