zoomImage Courtesy: Maritime London

Representatives of the British and Hong Kong maritime business sectors have signed an agreement to forge a closer working relationship.

Under the Memorandum of Understanding, signed on September 12 during London International Shipping Week, Maritime London and the Hong Kong Maritime & Port Board (HKMPB) will co-operate in a range of areas including promotional activity, training and sharing of best practice for maritime business services.

“Both the UK and Hong Kong look beyond their borders and provide world beating maritime expertise to global shipowners, traders and charterers. This agreement is designed to help both London and Hong Kong businesses collaborate and prosper with the support of their respective representative bodies,” Lord Mountevans, Maritime London Chairman, said.

London and Hong Kong are key international shipping and trading hubs with “a shared outward looking and entrepreneurial spirit. Both serve regions beyond their own borders and both have an exciting future,” Chan Fan, Frank, JP, Secretary for Transport & Housing, Hong Kong Government, said.

“We are delighted by the prospect of a closer working relationship than ever before,” Chan added.

Trading and logistics are a major economic pillar for Hong Kong, accounting for 22% of its GDP, while the UK maritime business services sector, which includes shipbroking, financial, legal, education and insurance services, contributes GBP 3.5 billion to the UK economy.