Gewgaws galore: Financial Secretary John Tsang (second from left) tours the Hong Kong Gifts and Premium Fair after its opening.

Hong Kong has the experience, the know-how and the connections to stage events, Financial Secretary John Tsang says, adding more effort will be made to boost the city as a global convention, exhibition and tourism capital.

Opening the Hong Kong Gifts & Premium Fair today Mr Tsang said Hong Kong is within a five-hour flight of half the world's population, and offers ready access to the vast regional markets, particularly the Mainland market.

"Hosting international exhibitions here puts the region's suppliers within easy reach of buyers. We can and will certainly do more to promote Hong Kong as an international convention, exhibition and tourism capital," he added.

Mr Tsang said the 2008-09 Budget has earmarked an additional $150 million in the coming five years to bolster Hong Kong's appeal in this regard, with global publicity to be stepped up and one-stop support services offered to event organisers.

The Gifts & Premium Fair, run by the Trade Development Council, was opened today with a record 3,909 exhibitors from 40 countries and regions, the largest in the world. It will run through May 1.

"The fair is a great example of what can be achieved when you have exhibitors with the best and newest products and buyers who are serious about doing the right deal," Mr Tsang said.

This year's fair has expanded to more than 78,000 square metres, featuring more than 4,200 booths offering a range of products. First-time exhibitors come from Brunei, Finland, Greece, Nepal and Poland. The council has also held 95 buying missions from 65 countries and regions, arranging for the visits of 6,700 key buyers.

Last year, Hong Kong's gifts and premium exports rose 2% to $166.4 billion. Major markets include the US, Japan, the UK, the Mainland and Germany.