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The Ministry of Commerce and the Commerce, Industry and Technology Bureau convened the first Senior Officials Meeting of the Closer Economic Partnership Arrangement (CEPA) in Hong Kong today (February 13) and yesterday to discuss further liberalisation of the services trade and advancement of trade and investment facilitation under CEPA.
The Mainland delegation was led by Deputy Director-General of the Department of Taiwan, Hong Kong & Macao Affairs of the Ministry of Commerce, Mr Sun Tong, and the Hong Kong delegation was led by Director-General of Trade and Industry, Mr Joseph Lai.
A Commerce, Industry and Technology Bureau spokesman said both sides had a positive and constructive meeting on the work of further liberalisation under CEPA, and agreed to further discuss on the subject shortly. "It is hoped that the two sides can reach consensus before July this year to give substance to a new supplemental agreement on CEPA which will further promote the mutual economic development of the Mainland and Hong Kong," the spokesman said.
CEPA is the first free trade agreement signed by the Mainland and Hong Kong. Since the signing of the CEPA main text in June, 2003, and its six annexes in September the same year, the two sides have signed the Supplement to the CEPA, the Supplement II to the CEPA, and the Supplement III to the CEPA respectively in October, 2004, October, 2005, and June, 2006, respectively.
CEPA covers liberalisation and co-operation measures in trade in goods, trade in services, and trade and investment facilitation. At present, all Hong Kong products satisfying the CEPA rules of origin are entitled to tariff free treatment upon importation into the Mainland market. Hong Kong service suppliers in 27 services areas could also enjoy preferential treatment in accessing the Mainland market. As at the end of January, 2007, more than $7.1 billion worth of Hong Kong products had been entitled to zero tariff treatment under CEPA, and more than 1,700 Hong Kong Service Supplier Certificates had been issued by the Trade and Industry Department.
Ends/Tuesday, February 13, 2007
Issued at HKT 17:08
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