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Hong Kong's unique position as the "super-connector" between the Mainland China and the international community was once again highlighted in Canada during a breakfast networking session in the Parliament Hill in Ottawa today (May 7, Ottawa time), which was jointly organised by the Hong Kong Economic and Trade Office in Toronto (HKETO) and the Canada-Hong Kong Parliamentary Friendship Group, with the support of the Hong Kong-Canada Business Association.
Speaking to some 100 Canadian politicians and business leaders through a keynote entitled "Hong Kong - Canada: Innovating Prosperity at the Gateway to Mainland China", the President and the Chief Executive Officer of the Asia Pacific Foundation of Canada (APF), Mr Stewart Beck, said that small and medium-sized enterprises are the pillar in the technology space and Canada can connect to that space in Asia by fostering linkages with innovation ecosystems in Hong Kong.
"As Hong Kong continues to evolve, clearly it is developing the innovation infrastructure to nurture start-ups and growth companies looking to build a presence in Asia and service the region's rapidly-expanding middle class, particularly on the Mainland," Mr Beck said.
Mr Beck also pointed out the importance for Hong Kong to remain stable and internationally-engaged. "A stable and internationally-engaged Hong Kong is important not only for its own continued economic growth and development, but also for the Asia-Pacific region, in which Canada must participate to prosper," he said.
The APF is a not-for-profit organisation focused on Canada's relations with Asia with a mission as Canada's catalyst for engagement with Asia and Asia's bridge to Canada. As a leader in research and analysis on Canada-Asia relations for over thirty years, it has developed strong ties with policy-makers, business leaders, academics, and opinion makers in Canada and throughout the Asia Pacific region. Prior to joining APF, Mr Beck served as the Canadian High Commissioner to the Republic of India, the Kingdom of Bhutan and Nepal. He joined the Department of External Affairs and International Trade in 1982 and has served as Consul General in Shanghai and San Francisco. In Ottawa, he held a number of positions, including Director General of the North Asia Bureau, and Assistant Deputy Minister for international business development, investment, and innovation.
In her opening address, the Director of HKETO Miss Gloria Lo remarked that Hong Kong continues to maintain a stable and sound relation with Canada. "Hong Kong is the sixth largest export market of Canada and has been identified as one of the priority markets in the Global Markets Action Plan of the Canadian Federal Government," Miss Lo said. In 2014, C$3.8 billion, representing about six percent of the total trade between Canada and Mainland China, was routed through Hong Kong.
"Our rule of law based on common law legal system and an independent judiciary as guaranteed by the Basic Law under the 'one Country, two Systems' principle, together with our clean government, simple and low tax regime and free flow of goods, capital and information have all contributed to our excellent environment for the Canadian enterprises," she emphasised.
"There is no wonder that Hong Kong is recognised as the freest economy in the world, the second most competitive place in Asia, the third major global financial centre and the third easiest place to do business in this whole world," Miss Lo added.
Miss Lo also provided brief updates on new initiatives to further boost business and trade in the city, including additional funding to support innovation and technology, promote the creative industries and facilitate start-ups, as highlighted in the 2015-16 Budget. Meanwhile, a new agreement between Hong Kong and the Mainland has started to take effect in December last year to achieve basic liberalisation of trade in services in Guangdong. "Following the successful launch of the pilot scheme of Shanghai-Hong Kong Stock Connect last November, we are discussing with the relevant authorities of the Central Government the launch of the Shenzhen-Hong Kong Stock Connect and enhancement of the Shanghai-Hong Kong Stock Connect", she noted.
Moreover, Hong Kong will create an even better environment for intellectual property (IP) trading by setting aside new funding for IP manpower training and provision of free consultation services to small and medium enterprises, as well as making legislative changes to modernise the regime for IP protection. Hong Kong is among the top ten out of the 144 economies in IP protection according to the Global Competitiveness Report published by the World Economic Forum.
Miss Lo also told that to further strengthen the bilateral trade relations with Canada, a major business symposium "Think Asia Think Hong Kong" will be held by the Hong Kong Trade Development Council in Toronto on June 8.
Ends/Friday, May 8, 2015
Issued at HKT 07:50
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