Although geographically separated by thousands of kilometres, the Czech Republic and Hong Kong share a strategic similarity: both locations are important conduits to vast economic markets. While Hong Kong acts as a major business access route to the huge mainland market, the Czech Republic is an important gateway to a borderless European market of about 500 million people. Jaroslav Kanturek, Consul General of the Czech Republic in Hong Kong and Macau, says trade and cultural ties between the Czech Republic and Hong Kong continue to grow. 'Excellent co-operation exists between the Czech Republic and Hong Kong, which is one of our most important markets in Asia,' Kanturek says. The consul general says bilateral business gatherings and reciprocal visits by trade delegations ensure trade potential for both economies remains encouraging. For example, Czech Invest, the Czech agency for investment support, has operated an office in Hong Kong since 2002. The visit to Hong Kong by the Czech Republic's Prime Minister, Jan Fischer, last year is another indication of the strong ties between the two destinations. 'Our well-developed transport connections and trading experience provide plenty of opportunities for Hong Kong and new-to-Europe Chinese companies to utilise the Czech Republic's strategic location and established trade networks to explore other markets in central and eastern Europe,' the consul general says. Integration into the European Union in 2004 has played an important role in the fast expansion of the Czech Republic's external trade to EU member countries and other parts of Europe. Kanturek says maintaining an open investment climate is another key element of the Czech Republic as an attractive destination for foreign investment. Czech firms have formed joint ventures with mainland enterprises to produce food products, bicycles and operator systems for the European markets. In the export sector, he also notes an increasing number of Czech companies, including lighting firms, glassmaking and consumer electronics companies, are using Hong Kong as a platform to enter the mainland and Asian markets. Among the Czech Republic's 10.5 million inhabitants, a growing appetite for consumer goods could also prove attractive for Hong Kong companies producing electronic products and components, toys, games, fashion items, giftware, jewellery and watches. 'There is a noticeable buying trend towards quality rather than quantity,' the consul general says. He says despite the global financial crisis, the conservative Czech financial system has remained relatively healthy. Steered by a new government, the Czech Republic has embarked on debit reduction, although the country already has one of the lowest GDP to debt ratios in Europe. In its latest rankings, Barclays Capital rated the Czech Republic the 10th most stable economy in the world based on solvency, fiscal needs, external dependence, financial sector strength and institutional strength (based on World Bank governance indicators). Perhaps more than any other product, the Czech Republic is renowned for its outstanding craftsmanship and high quality crystal glass creations. Glass accessories have been common in the homes of the wealthy and ordinary people since the 13th century. Today, chandeliers and other high-end lighting creations are widely incorporated as design features in five-star hotels, shopping malls and entertainment venues in Hong Kong, the mainland and across Asia. Czech glassware, including glass stones, chandelier trimmings and beads, also hold a prominent place in the fashion jewellery industry. In addition, the Czech Republic is also renowned for the production of motor vehicles, metallurgy, machinery and equipment. Closely associated with producing some of the world's finest beers, the Czech Republic is also home to numerous wineries. High quality wines, white and red, are beginning to win international awards, and support from wine enthusiasts from within and outside the Czech borders. A broad range of Czech wine will be showcased at the Hong Kong Trade Development Council, Hong Kong International Wine & Spirits Fair, which will take place from November 4 to 6 at the Hong Kong Convention and Exhibition Centre. Since May, visitors to the Shanghai World Expo have been finding out how the Czech Republic has developed design technologies that allow sustainable city planning to be applied to historical towns. Under the 'Fruits of Civilization' theme, the Czech Pavilion features a collection of digital artworks and design capabilities that produce a virtual city with a spotlight on the use of new technologies. The pavilion has been widely praised for its imaginative substance and style. 'By the time the expo closes, more than eight million visitors will have seen the many attractions the Czech Republic has to offer,' the consul general says.
