**********************************************************
Following is the transcript of remarks (English portion) by the Chief Executive, Mr Donald Tsang, after meeting the New Zealand Prime Minister on the margins of APEC meetings in Singapore today (November 13):
I have just had a good meeting with Mr John Key, the Prime Minister of New Zealand. I am very glad to announce that Hong Kong and New Zealand have concluded the negotiations on the Closer Economic Partnership Agreement. But we will be signing it in the first half of next year. Before I go further may I invite the prime minister to say a few words.
Thank you Prime Minister. As the prime minister has pointed out, the conclusion of these CEP negotiations is a landmark achievement. The CEP will be the second free trade agreement for Hong Kong, after the Closer Economic Partnership Arrangement with Mainland China, and is the first we have ever with a foreign economy.
New Zealand is a very important trading partner of Hong Kong in the Asian region. The CEP Agreement will open new doors for trade and investment flows between the two places, bringing us increased business opportunities and employment. As a services-oriented economy, Hong Kong will particularly benefit from the services liberalisation measures under the agreement.
The conclusion of this agreement also signals the strong support of Hong Kong and New Zealand for open markets and trade liberalisation, which is a booster for all at this time when the global economic outlook remains uncertain.
I'd certainly like to thank the prime minister for his support for this agreement, and officials from both sides for working very hard to bring these negotiations to finality.
Reporter: (inaudible)
Chief Executive: Hong Kong is not a very large economy also. But there is so much in common among us. Both of us firmly believe in free trade and we are very supportive of the multilateral trading system. But what is important for us is to give that certainty to trade, certainty to investment flows. And particularly what we are concluding is - we have to disclose it later on. It is a very comprehensive, high quality one. We are focusing on areas we are very good at and also giving New Zealand businessmen a particularly important foothold into an important Asian market going into the huge market of China. For us it is also important because it is the first one we have concluded outside of China. We want it to be the template for other negotiations we are conducting - a high quality one hopefully giving special impetus to what is happening in the Doha round of negotiations in Geneva.
Reporter: (inaudible)
Chief Executive: The important thing is I am coming here to discuss APEC issues about global economic recovery. Of course, constitutional reform is important to Hong Kong and it will be a matter of public consultation very shortly, in November, and of course is subject to agreement of the Executive Council later on. I am seeing the President and will be briefing the President on the latest economic and political developments in Hong Kong. We are talking about the usual general issues without normally going into specific matters.
(Please also refer to the Chinese portion of the transcript.)
Ends/Friday, November 13, 2009
Issued at HKT 18:44
NNNN
