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The Director-General of the Hong Kong Economic and Trade Office in London, Mr Andrew Leung yesterday (August 6, UK time) briefed the business sector in UK of the latest development of the Closer Economic Partnership Arrangement (CEPA) between Hong Kong and the Mainland following the Sixth Plenary of the Hong Kong/Guangdong Co-operation Joint Conference held in Hong Kong on August 5.

Addressing a group of more than 40 senior British business executives at a forum organized by ChinaLink of the Liverpool Chamber of Commerce and Industry, Mr Leung elaborated on the objective by both Hong Kong and Guangdong governments to develop the greater Pearl River Delta (PRD) into one of the world's most vibrant economic hubs within the next two decades.

With a theme of 'Post SARS China Market & the New Mainland-Hong Kong Co-operation', the forum attracted senior businessmen and executives from a wide cross section of businesses in UK, who were interested or intended in tapping on the new opportunities arising from CEPA.

Mr Leung updated the audience on a new framework and operation mechanism agreed at the Joint Conference, which would further propel the economic development of PRD through enhanced information exchanges and communication between Hong Kong and Guangdong.

"Both sides agreed to underline the unique position of Hong Kong as an international services hub for trade, financial, transportation and logistics, and to develop details in implementing the co-operation initiatives in the 17 service sectors under CEPA," said Mr Leung.

Mr Leung also reiterated at the forum that care had been taken not to exclude foreign companies under the definition of Hong Kong Companies as stipulated by CEPA. He appealed to the UK audience to fully capitalize on the new development arising from the Joint Conference's agreement to consolidate implementation of CEPA.

Being linked with over 3000 organizations, ChinaLink, the organizer of the forum, is a national authoritative UK-China trade and investment consultancy and promotional agency for the UK, primarily for the British Chambers network operating from within the Liverpool Chamber of Commerce and Industry.

End/Thursday, August 7, 2003

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