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The Director of the Hong Kong Economic & Trade Office (HKETO) in Canada, Mr Bassanio So, and the Premier of Canada's North West Territories, Mr Joseph Handley, have looked into collaboration opportunities between the two places during a recent round of discussions.
Mr So is visiting North West Territories this week as the official representative of the Hong Kong Special Administrative Region Government. At the meeting yesterday (August 21, Toronto time), Mr So and Premier Handley exchanged views on possible collaboration on the diamond industry between Hong Kong and the North West Territories. Both saw opportunities in Hong Kong's value-added services to raw precious stones from Yellowknife.
"The possibility of incorporating Yellowknife's unique aboriginal design in Hong Kong's diamond design industry was also discussed," Mr So said, adding that Hong Kong was the world's second largest exporter of precious jewellery and had long been renowned for its quality designs.
"Hong Kong also provides quality testing services on precious jewellery from professional institutions such as the International Gemological Institute (IGI)," he said.
Briefing Premier Handley on the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), Mr So said under the third phase of CEPA, along with other products of Hong Kong origin, Mainland China was giving all products of Hong Kong origin, including jewellery, tariff-free treatment.
"CEPA III has given Hong Kong a competitive edge on jewellery production industry. Fine jewellery made in Hong Kong now enjoys duty-free access to the Mainland China market, and offers great incentive for jewellery traders to engage in value-added services in Hong Kong to qualify for CEPA's rule of origin," he said.
Given the unique advantage under CEPA III, Mr So encouraged Yellowknife businesses to use Hong Kong as a platform to enter the China market, which had huge potential for fine jewellery business.
Mr So has also met with Yellowknife Minister of Industry, Tourism & Investment, Mr Brendan Bell, to discuss two-way trade, investment opportunities, and the development of the tourist industry.
Yellowknife, home to diamond manufacturing and retail activity, is the capital of the Northwest Territories, and is also known as "the Diamond Capital of North America".
During his visit to Yellowknife, Mr So will meet Mayor Gordon Van Tighem on Wednesday (August 23, Toronto time).
Ends/Wednesday, August 23, 2006
Issued at HKT 10:26
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