The Pearl River Delta area, one of the world's largest manufacturing bases, offers enormous opportunities for Hong Kong logistics service providers, a leading Hong Kong trade offcial said Wednesday.
Frederick Lam, Executive Director of Hong Kong Trade Development Council (HKTDC), made the remarks at the opening ceremony of the three-day Guangdong-Hong Kong Logistics Cooperation Symposium Wednesday in Guangzhou, capital of South China's Guangdong Province.
The delta is famed for its abundant supply of cargoes for shipment, including raw materials, semi-finished and finished products,
The symposium, the first of its kind between Hong Kong and the mainland since the implementation of Closer Economic Partnership Arrangement (CEPA) early this year, aims to enhance Hong Kong's strength and capabilities in providing quality logistics services and to explore networking and business opportunities for logistics professionals with mainland enterprises.
Under CEPA, Hong Kong's logistics enterprises are allowed to enter the mainland to set up solely funded companies.
"As Hong Kong has built a well-integrated logistics network, and Guangdong has also begun building its logistics infrastructure, both regions have potential opportunities for co-operation in this sector," said Lam.
Guangdong Province is set to build a series of high-speed sea, air and land transport channels to connect with Hong Kong in the near future.
According to HKTDC statistics, the logistics business in Guangdong Province is expected to grow at an annual rate of about 11 percent.
The added value of the logistics sector of the province will climb to 270 billion yuan (US$32 billion) by 2005.
The second Hong Kong Logistics Service Expo was also launched by the HKTDC with the support of various industry associations during the symposium. A series of open forums will also be organized during the event, providing an additional opportunity for exhibitors to promote their services and products directly to potential mainland users.
(China Daily March 4, 2004)