HONG KONG: Buyers from emerging markets, especially from the mainland, are being courted this year at two major summer shows, which opened yesterday - both at the Hong Kong Convention and Exhibition Centre (HKCEC).

On one side is Hong Kong Fashion Week for Spring/ Summer and in a different part of the Convention and Exhibition Centre - the Summer Sourcing Show for Gifts, Houseware & Toys 2009, organized by the Hong Kong Trade Development Council (HKTDC). It's the first time the two events have run concurrently .

The two fairs, scheduled through July 9, have organized 140 buying missions from 70 countries and regions. The 5,274 buyers represents a sizeable increase from the 4,640 who turned up last year. Eighty percent of the buyers comes from emerging markets, including the mainland, Africa, the Middle East, and South America.

Fashion Week has drawn 480 exhibitors from the mainland, representing 43 percent of the 1,100 exhibitors participating in the event. The gifts and toys show has drawn 450 exhibitors from 15 countries with Denmark, Italy and Pakistan participating for the first time.

Raymond Yip, assistant executive director of HKTDC said exhibitors are eager to attract buyers from the mainland and emerging markets because it is the established economies that are more profoundly affected by the financial crisis.

"The emerging markets are less affected by the crisis than the other economies," he said.

He said HKTDC has used almost half of the HK$80 million funding previously offered by the government. Most of the fund will be used to attract buyers to the exhibition. The council will pay for air tickets and hotels for buyers.

Yip said mainland buyers are willing to pay a 20 to 30 percent premium for Hong Kong brands.

(HK Edition 07/07/2009 page1)