Hong Kong and Denmark continues to maintain their strong bilateral relationship. Total trade between the two economies amounted to US$0.8 billion in 2019. In the same year, around 4.1% or US$0.5 billion of the total trade between Denmark and the Mainland of China routed through Hong Kong.
In 2019, Hong Kong’s main exports to Denmark were jewellery (55.1%); non-electric parts and accessories of machinery (31.6%); and miscellaneous manufactured articles (7.4%).
In 2014, Hong Kong and Denmark signed a Tax Information Exchange Agreement (TIEA). The TIEA provides for effective exchange of tax information between the two places, and enhances Hong Kong’s ability to administer and enforce its domestic tax laws.
In 2004, Hong Kong and Denmark signed an agreement on the avoidance of double taxation on income from shipping. The agreement benefits Hong Kong and Danish shipowners by relieving them of the burden of double taxation. It also strengthens Hong Kong’s status as the preferred international and regional logistics hub.
In 1994, Hong Kong and Denmark signed an Investment Promotion and Protection Agreement (IPPA). The IPPA provides additional assurance to Danish investors that their investments in Hong Kong are protected, and enables Hong Kong investors to enjoy similar protection in respect of their investments in Denmark.
High-ranking bilateral visits also foster closer ties. In 2019, Director General of the Danish Maritime Authority, Mr Andreas Nordseth, visited Hong Kong and spoke at the Hong Kong Maritime Forum. In the same year, Ambassador of the Royal Danish Embassy, Beijing, Mr A. Carsten Damsgaard, and Consul General of the Royal Danish Consulate General Guangzhou, Ms Anja Villefrance, paid an official visit to Hong Kong.
From Hong Kong, in 2019, the Secretary for the Environment, Mr KS Wong, spoke at the C40 World Mayor Summit in Copenhagen. In the same year, the Secretary for Transport and Housing, Mr Frank Chan
Fan, led a delegation of the Hong Kong Maritime and Port Board (HKMPB) to visit Copenhagen. In a seminar-cum-luncheon jointly organised by the HKMPB, the Hong Kong Trade Development Council, the Hong Kong Economic and Trade Office, London, and the Denmark-Hong Kong Trade Association, Mr Frank Chan Fan delivered a speech to promote Hong Kong’s maritime industry and encourage collaboration between the two places.
In 2019, 22809 visitors from Denmark visited Hong Kong.