HKTDC inks agreement facilitating economic exchange with Aomori Prefectural Government
The agreement will create opportunities for businesses in both locations.
The Hong Kong Trade Development Council (HKTDC) has inked a memorandum of understanding (MoU) with the Aomori Prefectural Government of Japan to strengthen trade relations between Hong Kong and Japan.
The MoU will facilitate economic exchange between the HKTDC and the Aomori Prefectural government through business meetings, seminars, and trade fairs. The agreement will likewise create opportunities for businesses in Hong Kong and Aomori Prefecture.
“With businesses looking to recover from the pandemic, the MoU enables them to capture these opportunities, tap into new markets and expand operations,” the HKTDC said.
According to the council, Japan was the 6th largest trading partner of Hong Kong in 2021, clocking in total merchandise trade of $390b.
In 2021, Hong Kong's domestic export of goods to Japan totalled $666m. The city also imported about $271b worth of goods from Japan.
Meanwhile, Aomori Prefecture is known for its aquaculture, forestry, and agricultural industries.