Len Crispino encourages Canadian exporters to leverage Hong Kong's stability

Hong Kong's stable trade platform is a major advantage during a time of unstable global markets, says Len Crispino, President and CEO of the Ontario Chamber of Commerce.

During a recent visit to the city, he said there is no better vehicle than Hong Kong for Canadian exporters to build their business, especially when entering the Chinese mainland.

"Hong Kong is a stable market very much grounded on a legal base that people can understand," Mr Crispino said. "They know what the rules of the game are, so even though there is instability in the world, we see a lot of stability coming though here. There is also a lot of understanding of the legal basis to this market, and that's something we as Canadians would be very comfortable with. For us, this is a unique opportunity to look at mainland China from a market that has a great deal of stability, so I think there is great opportunity here."

Canadian products and services such as environmental technologies are especially important to Greater China said Mr Crispino, pointing out that trade is a two-way street. Also important is the ability to attract inward investment, such as the current oil industry projects in Western Canada and real estate investments in Ontario.

Key competencies

Describing Hong Kong as "a phenomenal jurisdiction", he praised the city's "real competencies". Hong Kong's garment industry, for example, has reached the level of now being able to compete with giants such as Italy. Design is another of Kong Kong's strengths, and this something that's highly valued in Canada, Mr Crispino said.

The growth of the wine industry, particularly the market for high end wines, is another opportunity for the Ontario Chamber members. Given its advantages as a transportation and shipping hub, Mr Crispino foresees Hong Kong becoming a distribution and promotion point for Canadian wines. He said France is expanding its production in the Bordeaux region to cater for the China market, and whereas Canada might not be there yet in terms of that niche market, its product is now at a level where it is able to compete with French and Italian wines. From this standpoint, Mr Crispino says, Hong Kong represents a major opportunity.

Hong Kong a stable centre in an unstable world