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The sixth annual Structured Dialogue meeting between the European Union (EU) and the Government of the Hong Kong Special Administrative Region (HKSARG) took place today (December 3) in Brussels. The Structured Dialogue is an effective high-level platform for the EU and the HKSARG to address and discuss issues of common interest based on a mutually agreed agenda.
The meeting was co-chaired for the EU by the Managing Director for Asia and the Pacific, European External Action Service, Mr Viorel Isticioaia Budura and for Hong Kong by the Deputy Secretary for Commerce and Economic Development (Commerce and Industry), Ms Carol Yuen. The two sides conducted fruitful discussions on a wide range of subjects to deepen mutual understanding, and identified areas of further co-operation.
The Head of the EU delegation, Mr Isticioaia Budura noted that the economic, trade and investment relations between the EU and Hong Kong continued to be strong and close, even in the current economic climate. In 2011, the EU remained the second largest trading partner of Hong Kong, with total trade amounting to around HK$663 billion (EUR 61 billion), which marked an increase of 13 per cent compared with 2010.
"The Structured Dialogue continues to be an important vehicle for our co-operation with the HKSARG on a variety of key issues for the EU, including trade, environment, financial services, education and academic matters. Both sides recognise the importance of close co-operation and mutual understanding for the benefits of the economies of the EU and Hong Kong. We look forward to working more closely with the HKSARG on areas like the environment in the coming year," Mr Isticioaia Budura said.
Ms Yuen noted that the dialogue this year had served to enhance the existing co-operation between the EU and Hong Kong.
"We have had useful exchanges with the EU representatives on a wide range of issues, such as innovation and technology, education and competition policy. We will continue to strengthen co-operation with the EU in these areas, and look forward to further development of our close economic and trade relations in the future," she said.
The EU delegation informed the Hong Kong delegation about its ongoing efforts in addressing the sovereign debt and reforming the banking sector, including measures adopted to enhance overall competitiveness and to secure growth, as well as the latest developments relating to an EU banking union. The Hong Kong side informed the EU side about the latest policy announcements and measures relating to the Hong Kong economy and the enactment of the Competition Ordinance. The two sides agreed to explore further exchanges relating to competition law. The Hong Kong delegation also updated the EU on Hong Kong's role as an offshore Renminbi business centre, the recently concluded free trade agreement with Chile as well as the free trade agreement with the European Free Trade Association which entered into force recently.
The EU side updated Hong Kong on the latest developments regarding the regulation of financial services, as well as the EU trade relations with Asia more broadly. The EU side informed Hong Kong about the next steps for the EU Academic Programme including academic activities, and outreach beyond university circles. The Hong Kong side updated the EU on the implementation of the new academic structure and latest development of the Hong Kong Qualifications Framework (HKQF), including the implementation of the Award Titles Scheme and the credit system under HKQF. Both sides agreed to explore possible collaboration between the European Qualifications Framework and HKQF.
The EU and HKSARG agreed to continue to maintain close contact through the established channels and to identify areas for further co-operation at the next round of the dialogue.
Ends/Monday, December 3, 2012
Issued at HKT 20:05
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