Austrade reveals opportunities in Hong Kong Austrade
is calling on building-technology, electrical and security companies to exhibit at Asian Building Technologies, Elenex, and Securitex 2006, the premier trade fair for Hong Kong, Macau and southern China, from 7-11 June 2006.
Austrade’s Hong Kong-based Trade Commissioner, Mark Wood, says the vast array of construction projects in Hong Kong offers a multitude of opportunities to Australian suppliers. Wood cites the development of 5000 new residential units annually, construction of three whole new cities which will house 1 million people to be completed by 2011, and plans for 35 hotels with 14,900 rooms to be built over the next five years
. On nearby Macau, extensive tourism and leisure developments are driving demand with casino rights holders committed to spend A$10.6 billion over the next five years.
In 2004 alone, 397 companies exhibited at the three Asian Elenex fairs in Hong Kong. A total of 12,457 trade and industry visitors from 45 countries attended, making it one of the most successful for companies looking to supply to the numerous infrastructure developments in Hong Kong, Macau and southern China.
Austrade says the Hong Kong market is far larger than Australia’s, and stands as Australia’s 9th largest building-product export destination, buying A$293m of Australian product in 2004-05.
Austrade has a program of annual events that introduce Australian companies to the construction market in Hong Kong, Macau and southern China. As an example, it provides a case study of an Australian company that has benefited from an introduction into the Hong Kong market.
Hong Kong has been a boon for Sydney-based L&A Fazzini (LAF) Group, supplier of specialist fire protection and noise abatement products, providing them with over $2m worth of contracts in the past three years. LAF fire resistance now protects the new state-of-the-art International Exhibition Centre at Hong Kong International airport, while their noise abatement measures are in use at two of the busiest train stations, Wu Kai Sha and Lok Ma Chau.
Lorenzo Fazzini, managing director of LAF Group, describes Hong Kong as a market that Australian companies cannot afford to overlook, simply because of the amount of construction on the books. “In two recent contracts, LAF was able to more than cover the value of annual Australian business,” he said.