Above: Hong Kong

By the Caribbean Journal staff

The British Virgin Islands plans to open a representative office in Hong Kong, Premier Dr Orlando Smith announced this week.

The office would be part of the territory’s strategy to improve ties with emerging markets in tourism and financial services, the government said.

“We have long viewed the establishment of a Far East BVI Representative Office as a major component of the strategy to expand and deepen the commercial footprint of the Territory’s financial services sector in this important market,” Smith said in his budget address this week. “In this regard, this government has decided to establish a modest office in Hong Kong to service that region.”

Among the functions of the office will be diplomatic representation in the Asia Pacific Region, improving the territory’s voice with government authorities in Asia and promoting BVI business.

The BVI has had a similar office in London for more than 10 years, set up by Lorna Smith, chair of the BVI’s Financial Services Business Development Committee.

She will also spearhead the establishment of the Asia office.

The government said that the Asia office would have a “particular focus on financial services, as the Asia region is one of the territory’s primary markets.”