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Ice-Breaking Visit to North Korea
Led by President Mr Paul Yin, a 18-member delegation from the Association made an ice-breaking visit to the Democratic People¡¦s Republic of Korea (DPRK) from 15 to 19 September. The delegation was acc
ompanied by Mr Kim Ik Song, Consul General of DPRK in Hong Kong. During the visit, the delegation met with the Minister of Trade of DPRK, President and Director of the Korea Chamber of Commerce, and Vice-Principal of Kim Il-sung University to exchange views on a number of topics including the current business environment in the Pearl River Delta region, the investment opportunities in DPRK, and training of people in both places. Despite a short and tight schedule, the visit yielded fruitful results.
Meeting with Leaders of Korea Chamber of Commerce
Upon arrival in Pyongyang on 15 September, the delegation was invited to a dinner hosted by the Korea Chamber of Commerce. On the following day, the delegation attended an Investment Policy Briefing Session conducted by Mr Kim Chol Ung, Director of the Korea Chamber of Commerce, who introduced the latest developments of DPRK in areas like advanced technologies, natural resources and infrastructure. Mr Kim added that DPRK, with abundant natural resources, adequate supply of water, electricity and land as well as cheap labour cost, is a favourable investment spot for processing trade manufacturers. DPRK has already established business relationships with countries in Asia, Europe, North America and Latin America. He also elaborated on the external trade policies, imports and exports, the taxation regime and preferential investment policies of the country.
After that, the delegation met with President of the Korea Chamber of Commerce Mr Ri Hak Gwon. Mr Ri said that while celebrating the 60th anniversary of the founding of DPRK this year, the country had been progressing steadily and had been looking for different ways to co-operate with foreign businessmen in the aspects of processing trade, co-production as well as co-selling. In response, Mr Yin said that CMA members were currently facing difficulties in their Mainland operations and were striving to promote brand development and technological upgrading in order to increase their competitiveness. Since a core objective of the CMA was to make good use of its intermediary role to promote Hong Kong¡¦s trade and industrial development and to facilitate international trade and co-operation, Mr Yin suggested the Korea Chamber of Commerce may organize missions to Hong Kong to explore new business opportunities.
Signing of Co-operative Agreement
After the meeting, the CMA signed a co-operative agreement with the Korea Chamber of Commerce, aiming at establishing friendly mutual relations, and facilitating bilateral trade and economic co-operation between Hong Kong and DPRK. The agreement requires both parties to exchange information on member companies, trade and investment regulations as well as economic and trade news; to assist in promoting the economic and trade activities conducted by each other and to co-organize expositions and business conferences wherever possible for enterprises in both places to participate; to provide intermediary service and assistance for the industrial and commercial activities carried out in both places; to help mediating trade disputes between enterprises in DPRK and Hong Kong; and lastly to identify issues of common interest and concern through non-periodic interactions.
The delegation visited the Kim Il-sung University, and was received by the Vice-Principal of the University. The University is the highest educational institute in DPRK, and most graduates take up senior positions in the government. CMA President Mr Paul Yin expressed that the CMA placed equal emphasis on human resources training. About 450 students graduated from the two secondary schools of the CMA every year. The Association also awarded annual scholarships to students from universities and technical institutions in Hong Kong with outstanding academic performance. Mr Yin hoped that the Association could
co-operate with the Kim Il-sung University in the future. At the end of the meeting, the delegation donated US$13,000 to fund the training programmes of the Economics Department of the Kim II-sung University.
Meeting with Minister of Trade of DPRK
The delegation met with Mr Ri Ryong Nam, Minister of Trade of DPRK, on 17 September. Mr Ri said that in tandem with the active promotion of modernization of equipment and farms, the country was devoted to the development of public facilities, and the establishment of trade relations with overseas countries. He added that in light of the surge in the operating costs in the Pearl River Delta region, DRRK could be a choice for Hong Kong businessmen when considering relocating their production base outside China. Mr Ri was also delighted by the signing of the co-operative agreement between the Korea Chamber of Commerce and the CMA, which was an important step for the promotion of bilateral co-operation. Mr Yin replied that this visit was conducive to increasing understanding of Hong Kong businessman on the investment environment in DPRK, turning a new leaf for the closer bilateral co-operation in trade and commerce between Hong Kong and DPRK in the future.
During the trip, the delegation visited some famous local enterprises including an apparel factory and a gemstone processing factory and some scenic spots. The delegates also watched the famous cultural performance of Arirang and performances by some local students and youngsters.
The delegation concluded the five-day visit and returned to Hong Kong on 19 September. CMA Vice-Presidents Dr David Wong and Mr F C Lo were the deputy leaders; while CMA Honorary President Mr Choi Hin To was the honorary leader of the delegation. Other members of the delegation included Executive Committee Members Dr Choi Lung Wai, Mr Yeung Chi Hung and Mr Ronald Lye; General Committee Members Mr Mak Hung, Mr Steve Lau and Mrs Lam Chan Yam Fai; Members Mr Chou Cheng Ngok and Mr Mak Ho Shum, family members of the delegates and staff of the Secretariat.
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