The Hong Kong Trade Development Council (HKTDC) organises industry missions year-round to help Hong Kong businesses gain a better understanding of and vital access to key markets, while making valuable connections around the world.
Among recent missions, a Hong Kong Logistics Services Mission was organised to Budapest last month for business leaders in aviation, logistics and supply chain management to capture opportunities in Central and Eastern Europe.
The 13-strong delegation was led by Ir Dr Kelvin Leung, Chairman of the HKTDC Logistics Services Advisory Committee who is also International Vice President (East Asia) of The Chartered Institute of Logistics and Transport in Hong Kong.
A range of market briefings and company and site visits was complemented by networking, business matching sessions and a luncheon.
In addition to the latest economic developments in Central and Eastern Europe, delegates learned about trade and logistics opportunities arising from e-commerce growth and the Belt and Road Initiative (BRI). They also obtained a deeper understanding of investments from China and the growth of the logistics infrastructure ecosystem in Hungary.
Market briefings were delivered by industry associations and government bodies, such as the Hungarian Chamber of Commerce & Industry, Hungarian Association of Logistics Service Centres and Hungarian Investment Promotion Agency.
Meetings with the Confederation of Hungarian Employers and Industrialists, R-Bag Ltd. and the Central European Trade and Logistics Cooperation Zone (CECZ), among others, enabled the delegation to learn more about these entities’ range of projects and discuss different ways to collaborate for success.
Connecting Chinese enterprises with markets in Hungary and other Central and Eastern European countries, the CECZ is China's first national-level overseas trade and logistics cooperation zone, founded in Budapest in 2012, which gave delegates first-hand insight into a joint Chinese-Hungarian project that forms part of the BRI.
They also met with Gong Tao, Chinese Ambassador to Hungary, and learned about the robust trade relations between Hungary and China.
The delegation, furthermore, paid a visit to CGL Investment Holdings Corporation Limited, Budapest Airport and Cargo City – a premier logistics hub that serves as the central air freight gateway for Central and Eastern Europe – and HGL Group Hungary Kft.
Mission delegates seized opportunities in Hungary via tailored business matching meetings, during which they were able to identify potential business partners. Hong Kong freight forwarding companies, in particular, were exploring collaboration with local partners to use Hungary as a hub and gateway to Central and Eastern Europe.
Eddie Lee, CEO of Quantium Solutions (Hong Kong) Limited, paved the way for a potential strategic partnership with HGL Group, which could act on behalf of his firm to consolidate and handle e-commerce orders from neighbouring countries, shipping them from Budapest to Quantium's Hong Kong hub for onward distribution across Asia and other regions.
Apart from business matching, a Hong Kong Business Luncheon was held and attended by Zoltan Paldi, Consul (Trade Commissioner) of the Consulate General of Hungary in Hong Kong, alongside 80 Hungarian government and business leaders.