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HK-Italy fashion MOU marks closer trade ties

The Hong Kong Trade Development Council (HKTDC) today signed a memorandum of understanding (MOU) on co-operation in fashion trade promotion with the Italian Fashion Chamber. "Riding on this MOU, we will strengthen our joint efforts to promote fashion trading in Hong Kong and Italy," said Benjamin Chau, deputy executive director of the HKTDC. He signed the MOU with the chairman of the Italian Fashion Chamber, Mario Boselli.

The world’s second largest garment manufacturer and exporter, Hong Kong exported USD2.27 billion in clothing and accessories last year. Italy is Hong Kong’s eighth largest garment importer. In 2009, Hong Kong’s clothing and accessories exports to Italy amounted to USD802 million, nearly 23 percent of the city’s total exports to Italy. Hong Kong imported USD530m in clothing and accessories from Italy last year.

The MOU covers a number of industry areas, including exchanging fashion-related business information and supporting visiting trade missions. "We will provide assistance to each other in holding exhibitions in the home market of the other party and promote business exchange visits," said Chau. "Where appropriate, the HKTDC will also seek the advice of the Italian Fashion Chamber in inviting or sponsoring VIP visitors from Italy to Hong Kong."

The HKTDC organises three fashion-related trade fairs in Hong Kong each year – Hong Kong Fashion Week for Fall/Winter, World Boutique Hong Kong, and Hong Kong Fashion Week for Spring/Summer.

(Source: HKTDC)