Traditional Chinese Simplified Chinese Email this article news.gov.hk
HK and Macao to begin negotiations on Closer Economic Partnership Arrangement
******************************************************

     Hong Kong and Macao will soon commence negotiations on a free trade agreement (FTA), namely the Hong Kong and Macao Closer Economic Partnership Arrangement (HK-Macao CEPA), the Government announced today (October 9).

     "Establishing the HK-Macao CEPA would further enhance economic co-operation and development of the two places. At present, Hong Kong and Macao have each entered into a separate Closer Economic Partnership Arrangement (CEPA) with the Mainland. After the establishment of the HK-Macao CEPA, the three places may build upon those CEPAs to establish a new, common platform to advance further liberalisation and facilitation of trade and investment in the 'Greater China' region," the Government spokesperson said.

     The HK-Macao CEPA will cover the following key elements:

a. commitment to bind tariff at zero;
b. minimising non-tariff barriers and avoiding imposing trade remedies including anti-dumping, safeguards, and countervailing measures;
c. customs facilitation procedures;
d. liberalisation and facilitation of trade in services;
e. liberalisation, protection, promotion and facilitation of investment;
f. co-operation in the area of intellectual property; and
g. legal and institutional arrangements and dispute settlement mechanism.

     Macao was the 19th largest trading partner of Hong Kong in terms of goods in 2014 and the 14th largest in terms of services in 2013. Bilateral trade in goods between the two economies grew on average 22 per cent annually between 2010 and 2014, while bilateral trade in services registered an average annual growth rate of 18 per cent between 2009 and 2013. Macao is also the 11th largest source of foreign direct investment (FDI) into Hong Kong and the 11th largest recipient of FDI from Hong Kong.

     To assist the Government in formulating its strategies and positions in the negotiations, a consultation document has been prepared and can be accessed at the Trade and Industry Department (TID) website (www.tid.gov.hk/english/aboutus/noticeboard/hkmacao_cepa.html). Interested parties are invited to put forward their views and suggestions on areas to be covered in the HK-Macao CEPA on or before November 9. Feedback can be sent to the TID by mail (Europe Division, Trade and Industry Department, Room 1325, 13/F, Trade and Industry Tower, 3 Concorde Road, Kowloon City, Hong Kong), fax (2789 9761 or 2789 2491) or email ([email protected]).

Ends/Friday, October 9, 2015
Issued at HKT 15:06

NNNN

Print this page