The Baltic - Hong Kong Trade Association has granted Trasta Komercbanka a certificate attesting the bank's special membership in this organization. Only three members of the Association have been awarded such honorary status.
The Chairman of the Baltic - Hong Kong Trade Association Sergey Potapkin admits that the honorary membership status is granted to companies for special merits in the development of the Association. "TKB is the bank that noticed the great potential of China and Hong Kong. At present, it is the only bank in the Baltic which has opened its representative office in Hong Kong. I believe that our cooperation with TKB will be useful also for other members of the association", says S. Potapkin.
Vadim Levitskis, head of the TKB Hong Kong representative office confirms that in recent years Latvian entrepreneurs and investors are showing increasing interest in Hong Kong, which, according to the report of the World Bank and the International Finance Corporation Business Management 2014, has ranked second in the list of most favourable places for business.
"In order to follow its customers and provide them with professional support for any operation and financial transaction, in 2011, TKB opened a representative office in Hong Kong, which provides its customers with information support for a full range of financial services. Entrepreneurs show a great interest in TKB trade finance services, namely, factoring. The international factoring enables exporters to obtain bank's financing without collateral, but importers - to defer payments for goods that are purchased abroad. TKB is currently working to reshape the Hong Kong representative office into a branch”, says the Hong Kong representative office head.
The Baltic - Hong Kong Trade Association consolidates approximately 15 Latvian, Lithuanian, Estonian, Hong Kong and mainland Chinese companies. The principal task of the Association is strengthening of economic and trade relations between the Baltic States and Hong Kong. The foundation of the Association last year was supported by the agency "Invest HK", Hong Kong Trade Development Association and Russia - Hong Kong Business Association Board. The Baltic - Hong Kong Trade Association members have the opportunity to get the latest information on Hong Kong, to participate in various exhibitions, conferences related to Hong Kong, and etc. The Baltic - Hong Kong Trade Association has established a partnership with the Latvian Investment and Development Agency (LIDA), China embassy in Latvian and has received support of the Latvia’s Ministry of Foreign Affairs.