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The Financial Secretary, Mr John C Tsang, continued his two-day visit to Auckland, New Zealand today (December 1), seeking to further expand business ties between the two places.
First on Mr Tsang's agenda this morning was "Breakfast with John Tsang, Financial Secretary of Hong Kong", an event organised by the Hong Kong New Zealand Business Association. Mr Tsang encouraged New Zealand firms to explore opportunities under Hong Kong's free trade agreement with New Zealand -- Closer Economic Partnership Agreement, which will enhance mutual trade and investment flows.
Later, Mr Tsang held a meeting with New Zealand's Deputy Prime Minister and Minister of Finance, Mr Bill English, and the Minister of Revenue, Mr Peter Dunne, to discuss issues of mutual concern. This was followed by the signing of an agreement between Hong Kong and New Zealand on the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
Mr Tsang said that the conclusion of this comprehensive agreement on the avoidance of double taxation will help investors better assess their potential tax liabilities from cross-border economic activities, foster closer economic and trade links between the two places, and provide added incentives for companies in New Zealand to do business or invest in Hong Kong, and vice versa.
Following his arrival in Auckland, New Zealand yesterday (November 30), Mr Tsang met New Zealand's Minister of Trade, Mr Tim Groser, to discuss, among other things, the Closer Economic Partnership Agreement which will soon come into force.
Later today, Mr Tsang will depart for Santiago, Chile to start his visit to Latin America, which runs from December 1 to 8.
Ends/Wednesday, December 1, 2010
Issued at HKT 13:44
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