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SCED begins visit to New Zealand (with photos)
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     The Secretary for Commerce and Economic Development, Mr Algernon Yau, began his visit to New Zealand today (August 11) to promote Hong Kong's unparalleled strengths under the "one country, two systems" principle and foster economic and trade collaboration between the two places.

     Mr Yau first visited Wellington and met with the Minister of Agriculture, Minister of Forestry, Minister for Trade and Investment and Associate Minister of Foreign Affairs of New Zealand, Mr Todd McClay. Mr Yau gave him an update on Hong Kong's latest economic developments and initiatives to promote trade and investment, such as the deduction in liquor duty. They also exchanged views on strengthening bilateral relations to bring mutual benefits.

     Turning to regional co-operation, Mr Yau highlighted Hong Kong's readiness for early accession to the Regional Comprehensive Economic Partnership (RCEP) - the world's largest free trade agreement. The 15 RCEP economies are all Hong Kong's major trading partners, collectively accounting for 70 per cent of Hong Kong's total trade. He called for New Zealand's support for Hong Kong's early accession to RCEP, through which the city is committed to making important contributions to regional economic development and integration.

     Mr Yau also met with the Chair of New Zealand Trade and Enterprise and board member of Invest New Zealand Mr Charles Finny to gain a better understanding of the latest developments of local industries and exchange views on co-operation opportunities. Mr Yau also shared with him Hong Kong's unique advantages and favourable business environment that present tremendous business opportunities for New Zealand enterprises and investors.

     Meanwhile, Mr Yau paid a courtesy call on the Ambassador of the People's Republic of China to New Zealand, the Cook Islands and Niue, Dr Wang Xiaolong, to keep him abreast of Hong Kong's latest developments and efforts in deepening international exchanges and co-operation, with a view to coping with the changes in the global economic and trade landscape.

     In the evening, Mr Yau attended a business dinner cohosted by the Hong Kong Economic and Trade Office, Sydney and BusinessNZ to promote Hong Kong's strategic location and its roles as an international trade centre and investment hub. He said that Hong Kong is the world's fifth-largest merchandise trading entity, after the Mainland, the United States, the European Union and Japan. Meanwhile, according to the World Investment Report 2025, global foreign direct investment inflows to Hong Kong reached US$126 billion in 2024, ranking Hong Kong third globally. This is a vote of confidence in Hong Kong by investors. Hong Kong is also home to around 10 000 foreign companies from around the world, with many of them eyeing the Mainland and Southeast Asian markets.

     He also briefed the participants on the vast potential of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) with a population of 87 million and a GDP of US$2 trillion. He encouraged the local business sector to explore GBA business opportunities and also enjoy preferential treatment under the Mainland and Hong Kong Closer Economic Partnership Arrangement, leveraging Hong Kong's distinctive advantage as a gateway to the GBA and Mainland markets.

     Mr Yau will proceed to Auckland tomorrow (August 12).
 
Ends/Monday, August 11, 2025
Issued at HKT 17:56
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The Secretary for Commerce and Economic Development, Mr Algernon Yau, began his visit to New Zealand today (August 11) to promote Hong Kong's unparalleled strengths under the "one country, two systems" principle and foster economic and trade collaboration between the two places. Photo shows Mr Yau (left) meeting with the Minister of Agriculture, Minister of Forestry, Minister for Trade and Investment and Associate Minister of Foreign Affairs of New Zealand, Mr Todd McClay (right), in Wellington to give him an update on Hong Kong's latest economic developments and initiatives to promote trade and investment, such as the deduction in liquor duty, and exchange views on strengthening bilateral relations to bring mutual benefits.
The Secretary for Commerce and Economic Development, Mr Algernon Yau, began his visit to New Zealand today (August 11) to promote Hong Kong's unparalleled strengths under the "one country, two systems" principle and foster economic and trade collaboration between the two places. Photo shows Mr Yau (first left) meeting with the Chair of New Zealand Trade and Enterprise and board member of Invest New Zealand Mr Charles Finny (first right) in Wellington to gain a better understanding of the latest developments of local industries and exchange views on co-operation opportunities. Looking on is the Director of the Hong Kong Economic and Trade Office, Sydney, Mr Ricky Chong (second left).
The Secretary for Commerce and Economic Development, Mr Algernon Yau, began his visit to New Zealand today (August 11) to promote Hong Kong's unparalleled strengths under the "one country, two systems" principle and foster economic and trade collaboration between the two places. Photo shows Mr Yau (left) paying a courtesy call on the Ambassador of the People's Republic of China to New Zealand, the Cook Islands and Niue, Dr Wang Xiaolong (right), in Wellington to keep him abreast of Hong Kong's latest developments and efforts in deepening international exchanges and co-operation, with a view to coping with the changes in the global economic and trade landscape.
The Secretary for Commerce and Economic Development, Mr Algernon Yau, began his visit to New Zealand today (August 11) to promote Hong Kong's unparalleled strengths under the "one country, two systems" principle and foster economic and trade collaboration between the two places. Photo shows Mr Yau speaking at a business dinner cohosted by the Hong Kong Economic and Trade Office, Sydney and BusinessNZ in Wellington to promote Hong Kong's strategic location and its roles as an international trade centre and investment hub.