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Hong Kong – Sweden

Bilateral relationship between Hong Kong and Sweden continues to bloom. Total trade between the two economies amounted to US$0.9 billion in 2019. In the same year, around 4.6% or US$0.8 billion of the total trade between Sweden and the Mainland of China routed through Hong Kong.

In 2019, Hong Kong’s main exports to Sweden were made-up articles, wholly or chiefly of textile materials (34.7%); jewellery (20.0%); and other machinery/equipment for particular industries, and parts (13.3%).

Since 2018, the Hong Kong and Sweden Working Holiday Scheme allows young people from the two places to apply for a visa, which would allow them to stay in Sweden or Hong Kong for up to 12 months. During the period, they may work to finance their stay. There is no quota restriction for Hong Kong youths travelling to Sweden under the Scheme. For Swedish youths visiting Hong Kong, there is a quota of 500 places per year.

In 2014, Hong Kong and Sweden 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 2014, Hong Kong and Skåne of Sweden signed a Memorandum of Understanding (MoU) on co-operation in innovation policies and innovative solutions. The MoU covers six areas of co-operation, namely smart sustainable cities, personal health, smart materials, life science, food sciences and design. Under the MoU, both sides would share the experience and engage in more co-operation activities in the fields of innovation policies and innovative solutions.

In 2011, Hong Kong and Malmö, Sweden signed a Sustainability Charter to further their co-operation in promoting sustainable development and environmental protection. Subsequently in 2014, the two cities signed the Addendum to the Hong Kong-Malmö Sustainability Charter to acknowledge the formal inclusion of the Hong Kong Science and Technology Parks as a third party in the Charter.

In 1994, Hong Kong and Sweden signed an Investment Promotion and Protection Agreement (IPPA). The agreement gives additional assurance to Swedish investors that their investments in Hong Kong are protected, and enable Hong Kong investors to enjoy similar protection in respect of their investments in Sweden.

Bilateral ties between Hong Kong continue to deepen with high-level government and trade visits. In 2018, the Hong Kong Chamber of Commerce in Sweden, together with Hong Kong Trade Development Council and Invest Hong Kong, led a Swedish delegation to Hong Kong. In the same year, the Swedish Minister for European Union (EU) Affairs and Trade, Ms Ann Linde, visited Hong Kong to attend the inauguration ceremony of Nordic Innovation House in Hong Kong where she met with the Chief Executive of the Hong Kong SAR, Mrs Carrie Lam. In 2017, HRH Prince Carl Philip of Sweden visited Hong Kong together with two business delegations. During his visit, HRH Prince Carl Philip met with the Chief Executive of the Hong Kong SAR, Mrs Carrie Lam, the Hong Kong Chief Secretary, Mr Matthew Cheung, and the Hong Kong Financial Secretary, Mr Paul Chan. In 2017, the Swedish Minister for EU Affairs and Trade, Ms Ann Linde visited Hong Kong and had a bilateral meeting with the Chief Executive of the Hong Kong SAR, Mr CY Leung.

From Hong Kong, in 2019, the then Secretary for Financial Services and the Treasury, Mr James Lau, visited Stockholm to strengthen financial ties with Sweden. During his visit, Mr Lau met with the Minister for Financial Markets and Housing and Deputy Minister for Finance of Sweden, Mr Per Bolund. In 2015, the then Secretary for Financial Services and the Treasury, Professor KC Chan, visited Stockholm to learn more about the latest developments in financial technologies and to promote Hong Kong as the world’s leading offshore Renminbi hub. During his visit, Professor Chan met with the Swedish Deputy Minister for Finance, Mr Per Bolund.

In 2019, 43506 visitors from Sweden visited Hong Kong.

Useful information in Hong Kong

Consulate General of Sweden in Hong Kong
Room 2501, 25/F., BEA Harbour View Centre,
56 Gloucester Road, Wanchai, Hong Kong
Tel: (+852) 2521 1212
Fax: (+852) 2596 0308
Email: generalkonsulat.hongkong@gov.se
Website: www.swedenabroad.com/hongkong

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