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South China Sea

HK still an important stepping stone for trade with Sweden

3-MIN READ3-MIN
Luisa Tam

In 1950, Sweden became the first Western country to forge diplomatic relations with the mainland and trading ties between the two nations date back more than 300 years.

In the early days, Sweden imported porcelain, tea and silk in exchange for timber and iron, and by the 19th century began to export manufactured products to China.

Hong Kong has long been an important trade partner and a stepping stone for Swedish companies to do business with the rest of Asia.

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'Hong Kong ticks all the right boxes when it comes to conducting business; it's an open and dynamic society, its business practices are fair and transparent, and it has a strong and effective legal system,' says J?rgen Halldin, consul general of Sweden in Hong Kong and Macau.

Sweden's exports to Hong Kong amounted to US$340 million in the first six months of this year, 10 per cent up from the same period last year, including mainly telecommunications, hi-tech equipment and furniture. But there was a 4 per cent drop in imports from Hong Kong in the first half of this year that involved engineering products and manufactured goods.

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As the Swedish Chamber of Commerce celebrates its 25th year of promoting bilateral trade relations in Hong Kong today, it should be proud that trade and investment between the two places is steadily growing and that Hong Kong remains an important trade and business hub for Sweden.

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