Hong Kong and Thailand have long enjoyed close economic and cultural ties. This is perhaps why there has never been an official private sector-led organisation to promote linkages and networking opportunities.
It is to fill this gap that the Hong Kong-Thailand Business Council is being established. The official inauguration falls on September 25.
The founding of the council is especially relevant now that China has been admitted to the World Trade Organisation (WTO) and because of the economic rise of the Mekong River sub-delta region - including Myanmar, Cambodia, Laos and Vietnam - with Hong Kong and Thailand acting as respective 'gateways'.
Prime Minister Thaksin Shinawatra says Thailand looks to China as a business partner with immense potential and encourages greater co-operation. Besides promotion work, the council plans to help business people network, says its chairman, Bernard Charnwut Chan, a Hong Kong legislative councillor and executive director of the Asia Financial Group.
'Doing business directly with China may be a bit intimidating for some Thai business people, but if it's done through Hong Kong we can offer them our seven or eight years' experience and understanding of the market,' he says. 'Hong Kong and Bangkok are both good places to do business. They have solid infrastructure and a sound legal climate.
'In Hong Kong, we want to work with other business organisations and connect sectors with comparative advantages in Thailand, such as agro-industry and automotive and automobiles.'