18 March 2014 – Boosting exports is a major priority of the French Government, according to Jean-Paul Bacquet, President of Ubifrance, the French governmental agency for international business development.

Mr Bacquet was speaking at the Hong Kong-France Business Partnership’s ninth plenary session, which took place today in Hong Kong. He was in Hong Kong, he said, to help foster closer economic ties between France and Hong Kong, noting that 20 per cent of the world’s trade is expected to be centred in China over the next 10 years.

The annual bilateral gathering, organised by the Hong Kong Trade Development Council and Ubifrance, began in 2005. It was created to enhance business opportunities between business in France and Hong Kong.

On the Rise
Speaking at the plenary, Tom Tang, Chairman of the Partnership’s Hong Kong Section, noted that trade between Hong Kong and France “was on the rise.” In 2013, trade rose eight per cent, year-on-year, to more than US$11.5 billion. “I'm confident that our trade will continue to expand in the coming year, what with the Hong Kong Government forecasting three to four per cent GDP growth in 2014, and the French economy expected to climb by about one per cent.”

Mr Tang added that his forecast reflected “the continuing, if measured, economic recovery in the European Union.”

Investment Opportunities
Jean Lemierre, Chairman of the French Committee, picked up on Mr Tang’s economic comments. He said that “the Eurozone was recovering and that the debt crisis was over,” with capital flowing into the Eurozone from emerging market countries. “There are opportunities for investors,” he noted, adding that the situation was not uniform throughout the Eurozone. “While Germany is growing fast and robust, there are still adjustments to be made in Southern Europe.”

Opportunity was the implicit theme of the plenary, which featured three main sessions: the economic outlook for Hong Kong, the mainland and France; technological innovation and the consumer experience; and advancing technology through collaboration.

Electronic Payment
Esmond Lee, the Hong Kong Monetary Authority’s Executive Director (Financial Infrastructure), briefed the plenary on the rapid development of electronic payment in retail, and the corresponding “shift of funds from the banking sector to the non-bank payment service market.”

Sammy Kam, Technical Director of Hong Kong’s Octopus Holdings Ltd, told the plenary that Octopus had partnered with Gelmato, a French company, to develop the Octopus SIM card, which launched in last October. “More than 40 per cent of the card’s transactions to date have been generated in the retail sector. No other smart-card scheme in the world has achieved such high market penetration rates,” he said.

Mr Kam added that Octopus had recently partnered with Taobao, the mainland’s largest online retail company, creating a new online payment method. Users, he said, can now pay for their Taobao purchases with an “Octopus card via NFC-enabled mobile devices.”

Curbing Counterfeiting
French speaker Corinne Murcia Giudicelli, Director, Marketing & Sales, of Hologram Industries, was one of the speakers to address counterfeiting. She said that optical technology and the latest high-security holograms were helping to curb the global problem.

Hong Kong member Paul Clerc-Renaud said that counterfeiting was not limited to documents, but also an issue “in fashion, wine, medicine, food and even auto and aircraft parts.” He noted that “France was pioneering the use of smart technology in the fight against counterfeiting, since French products were prime targets.” He added that, as an international business hub, Hong Kong “must invest in the latest counterfeiting technology, which would offer great opportunities for French technology companies.”

Technology and IP Protection
In the session on technology and collaboration, Hong Kong member John Mok discussed collaboration between Hong Kong and overseas companies in advanced electronics. Chairman of Hong Kong design and manufacturing services provider Automatic Manufacturing Ltd, Mr Mok stressed the advantages of Hong Kong’s “robust intellectual property protection and its legal system.” Hong Kong, he said, “remains the place to be in raising capital for technology projects.”

Think Asia, Think Hong Kong
Margaret Fong, Deputy Executive Director, of the HKTDC, told the plenary members that the Council would organise the largest Hong Kong promotion ever to take place in France. The 28 October event, “Think Asia, Think Hong Kong,” will feature a symposium and thematic seminars. The event is expected to attract some 1,400 French business leaders and government officials.

The 10^th Hong Kong-France Business Partnership plenary is scheduled to take place next year in France.