Spanish leather goods in 31pc fall
Spanish exhibitors are hoping to revive interest in their goods at the Asia Pacific Leather Fair next week following a 31 per cent slump in exports of leather goods - excluding shoes and clothing - to Hong Kong last year.
About 70 Spanish manufacturers and designers are in town to put up what they claim will be the fair's second largest display in a bid to boost the country's footwear and leather goods industry's market share in the region.
Spain's shoe exports to Hong Kong however are holding up well despite the Asian crisis, according to trade commissioner Ernesto Tejedor.
The country produced almost 215 million pairs of shoes last year and exported a record US$77 million worth of shoes to Hong Kong - 59 per cent up on the previous year.
Exports to the SAR were more than $614 million, a 2 per cent increase on the previous year.
'These results are especially pleasing when you consider Hong Kong-Spain trade has grown at 6 per cent, a faster rate compared to Hong Kong's trade growth with the rest of the world last year,' Mr Tejedor said.
Spanish investors had not lost their faith in the Asian economy.
'There are at least 70 Spanish companies who want to continue to maintain their links in Hong Kong even if it means business will not be buoyant,' he said.
'We think our success here is remarkable because in four years, our exports here have increased four times.'
