Hong Kong’s TDC to open Egypt office as it eyes African, Nordic markets

Hong Kong’s trade promotion body will set up a new office in Egypt within the next nine months to expand its footprint in Africa, while recalibrating resources for Nordic countries through its European bases as traditional markets face slower growth.Hong Kong Trade Development Council chairman Frederick Ma Si-hang said on Friday that the organisation had revamped its corporate structure to better help companies in six new industry clusters develop promotional strategies.Ma, a former commerce chief, said that while growth had been low in traditional markets, including the United States, because of geopolitics, emerging markets in Africa offered huge potential, particularly after China expanded its zero-tariff treatment in May to cover 53 African nations. Eswatini, the only country to recognise Taiwan, was excluded.