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Hard graft key to Hong Kong success story

Arran Boote, director of accounting firm William Buck, has picked up a Success Story Award from the Federation of Hong Kong Business Associations Worldwide and the Hong Kong Trade Development Council (HKTDC) for his work in developing trade relations between New Zealand and Hong Kong.

The award is a joint venture between the Federation of Hong Kong Business Associations Worldwide, which represents 33 associations in 24 countries, and the trade council.

Boote has spent the past seven years developing his consultancy services and establishing Hong Kong as a base in developing trade relations with Asia.

He also assisted several Australasian businesses in setting up in Hong Kong and established trading houses there for various exporters and importers.

Boote says Hong Kong is the best place from which to establish trade relations with China.

“Hong Kong is the best place from structure, entity, taxation, finance, foreign exchange and language perspectives. Singapore is okay but a definite second best option. Going direct to China is not the right approach.”

Boote was also commended for utilising New Zealand’s free trade agreements with Hong Kong and China to create greater opportunities for New Zealand businesses in Hong Kong.

He says William Buck has been successful in establishing relations in China thanks to the fact that all its Hong Kong staff speak fluent English, offering a full spectrum of services, and most importantly learning from its mistakes and the mistakes of others.

Boote says some of the typical missteps he sees New Zealand firms make when attempting to establish relations with Asia are treating China as a single market, failing to effectively capitalise on free trade agreements, or using a trade advisor who has never been to that market.