X5 Retail Group opens trade representative office in Hong Kong

MOSCOW, Nov 7 (PRIME) -- Russian retailer X5 Retail Group has opened a trade representative office in Hong Kong aiming to develop direct imports of goods from Southeast Asia to Russia, the company said in a statement on Tuesday.

“A permanent presence in Hong Kong, the business getaway to South-Eastern Asia, will enable X5’s procurement team to improve purchasing terms and build up the share of direct imports in a number of product categories, primarily fruit, vegetables, seafood and non-food goods,” the company said.

The office will become the first representative office of the company in foreign states. “Looking forward, X5 is also considering opportunities to establish similar trade offices in Central Asia and South America. Direct engagement with foreign suppliers, bypassing distributors, will enhance the quality of X5's offering to customers, by enhancing its control over production standards and mitigating risks of supply shortages,” the company said.

The company also plans to launch direct imports from Bosnia, Mexico, Namibia, Madagascar, New Zealand and Iran in 2017–2018. “The Company is open to cooperation with producers from other countries looking to tap into the Russian market and is ready to offer favorable procurement terms,” the statement read.

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