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The third annual structured dialogue meeting between the Government of the Hong Kong Special Administrative Region (HKSARG) and the European Commission (EC) was held today (December 17) in Hong Kong. Since the first meeting in November 2007, the dialogue has become an effective high-level liaison platform for the HKSARG and the EC to discuss issues of common interest in accordance with a mutually agreed agenda.
The meeting was hosted by Deputy Secretary for Commerce and Economic Development (Commerce and Industry), Ms Linda Lai, who is also head of the HKSARG delegation. Speaking after the meeting, Ms Lai said, "We have had fruitful exchanges with the EC representatives on a wide range of issues, including possible co-operation in a number of key industries. The regular dialogue is important for enhancing mutual understanding and co-operation for the benefit of the economies of the two places."
Head of the EC delegation, Director for Asia of the Directorate General for External Relations of the European Commission, Mr James Moran, said that the two sides had a constructive dialogue. "This dialogue is particularly timely from EU's point of view because of the recent entering into force of the Treaty of Lisbon. The Treaty has important implications for our relations with all our partners, including Hong Kong. Hong Kong has a unique strategic position for European Union (EU) companies. It is a premier gateway to the rapidly growing Mainland market and provides unprecedented opportunities for EU businessmen. There is plenty of room for the economic and trade relations between the two places to grow," Mr Moran said.
The meeting reviewed the trade and economic relations between the EU and Hong Kong in the past year. EU remained Hong Kong's second largest trading partner. Noting that bilateral trade between the two places had been growing steadily, both sides agreed that the trade relations between the two sides remained strong and healthy.
The EC delegation updated Hong Kong on developments of EU's regulations in the areas of consumer product safety, registration of chemicals, environmentally-friendly products, financial services, as well as the seminars launched under the auspices of the EU Business Information Programme in Hong Kong. The HKSARG found the briefing useful and will share the information with traders and businesses to facilitate their products in accessing the European market.
The EC introduced its best practices and implementation of various initiatives related to customs control, including the Authorised Economic Operator programme and the Smart and Secure Trade Lanes. The EC also shared its experience with the second generation electronic passports and briefed Hong Kong on its possible co-operation with the financial institutions and regulators in Hong Kong.
The Hong Kong side briefed the EC representatives on the new liberalisation measures under Supplement VI to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), as well as the progress of the legislative proposal to enable Hong Kong to adopt the latest OECD standard for exchange of tax information. The EC delegation welcomed these developments and briefed Hong Kong on the related international development on taxation and EC's discussions on initiatives in this area.
To keep the EC apprised of the business and regulatory environment in Hong Kong, the Hong Kong side updated it on the progress of Hong Kong's preparation for the proposed Competition Bill, the legislative proposal to tackle the problem involving "shadow companies" as well as the legislations on food safety.
Another focus of the meeting was some of the six industries recommended by Hong Kong's Task Force on Economic Challenges. The Hong Kong delegation introduced the HKSAR's recent efforts in developing these sectors, i.e. innovation and technology, creative industries, education as well as testing and certification. In addition, Hong Kong also briefed the EC on its initiatives to reduce carbon emission as well as its joint initiatives with Guangdong to develop the Greater Pearl River Delta into a green and quality living area.
The two sides noted the good progress of their efforts in strengthening co-operation on civil aviation, and agreed to continue to work together. They also had a fruitful exchange on financial services and latest update on regulations from both sides.
Both sides appreciated the developments on various fronts in the past year and reaffirmed the usefulness of the annual structured dialogue. They agreed to maintain close contact and co-operation at all levels through the established channels and would strive to identify new initiatives for discussion at the next round of the dialogue.
Ends/Thursday, December 17, 2009
Issued at HKT 18:55
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