HSBC Supports Business Ties Between Hong Kong, NZ

HSBC Supports Closer Business Ties Between Hong Kong and New Zealand

HSBC toasted the signing of the Hong Kong and New Zealand Closer Economic Partnership Agreement yesterday with invited guests including Hon Tim Groser, New Zealand Minister of Trade, following the official signing of the deal this week.

About 25 HSBC business customers attended an Investing in New Zealand lunch hosted by John Coverdale, Global Co-Head of HSBC Commercial Banking, at which Mr Coverdale presented Mr Groser with a pair of gold lion plaques as a souvenir of the landmark occasion.

Mr Groser said: “New Zealand's increasing engagement with the rest of Asia has gained momentum through trade agreements with mainland China and ASEAN. Our agreement with Hong Kong is another significant step forward in Asia-Pacific regional economic integration.”

HSBC is one of the world’s largest banking and financial services organisations, with a presence in 88 countries and territories serviced by around 8,000 offices across the world. As a leading international bank and having had a presence in New Zealand for over 20 years, HSBC has significant expertise in servicing New Zealand sectors that trade with Asia, including forestry, dairy, meat and seafood.

“With Asia’s intra-regional trade growing faster than world trade overall, HSBC is proud to support increased business activity in the region. The signing of the Closer Economic Partnership Agreement, Hong Kong’s first with a foreign country, is both recognition of longstanding ties and a promise of strong cooperation moving forward”, said John Coverdale, Global Co-Head of HSBC Commercial Banking.

Gavin Haworth, HSBC New Zealand’s Head of Trade and Supply Chain, who attended the luncheon, said that the event was about linking HSBC local market knowledge with our international network, to help identify potential opportunities in both New Zealand and Hong Kong.

“New Zealand will continue to produce products that will be in ever-increasing demand throughout Asia with its expected population and wealth growth. We are already seeing interest from Hong Kong businesses to distribute New Zealand product through their extensive Asian networks, which will contribute to New Zealand’s long term prosperity,” said Mr Haworth.

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