The Financial Secretary, Mr Paul Chan, and the Secretary for Economy and Finance of the Macao Special Administrative Region (SAR), Mr Lionel Leong, co-chaired the 10th Hong Kong Macao Co-operation High Level Meeting (the Meeting) today (October 27). The two sides reviewed the progress of co-operation work and achievements made in the past year, as well as discussing and deciding on the directions of co-operation for the coming year. In addition, the two sides signed the Hong Kong Special Administrative Region and Macao Special Administrative Region Closer Economic Partnership Arrangement (HK-Macao CEPA) before the Meeting.
Mr Chan said, "Since the initialling of the draft main text of HK-Macao CEPA at the meeting last year, through active discussions, I am pleased that the two sides signed the HK-Macao CEPA today, with a view to promoting trade liberalisation and facilitation, as well as further enhancing economic co-operation and development between the two places.
"The HK-Macao CEPA covers, amongst others, trade in goods, trade in services, investment, intellectual property, and economic and technical co-operation. The commitments go beyond those undertaken by Hong Kong and Macao under the World Trade Organisation, providing enhanced legal certainty to market access or treatment to one another."
The HK-Macao CEPA will take immediate effect, while commitments on the liberalisation of trade in goods and trade in services will come into effect on January 1 next year.
In addition, both sides agreed at the meeting that the key area of co-operation in future will be to press ahead with the development of the Guangdong-Hong Kong-Macao Bay Area together with Guangdong Province.
Mr Chan said, "Being the country's Special Administrative Regions, both Hong Kong and Macao possess unique advantages which enable the two places to play different but complementary roles in the country's development. Complementing the development strategy of the Belt and Road Initiative, the Bay Area development will present historic opportunities for the future development of Hong Kong and Macao."
On economic co-operation, following the signing of the HK-Macao CEPA, respective departments of Hong Kong and Macao will continue to work together to create a more business-conducive environment for the businesses of the two places. In addition, both sides will continue to take forward co-operation in promoting multi-destination itineraries, investment promotion, and trade and exhibition promotion, through the Working Group on Enhancing Hong Kong/Macao Economic Co-operation.
On cross-boundary infrastructure, the construction of the Hong Kong-Zhuhai-Macao Bridge (HZMB) is progressing steadily. The governments of both sides will continue to study and negotiate actively on the cross-boundary transport arrangements to facilitate the flow of passengers and goods between the two places, thus enhancing mutual access between the two places.
On developing cross-boundary helicopter services, the Hong Kong SAR Government will work with Macao to explore ways in enhancing the quality of services for high-end visitors travelling by general aviation and business aviation aircraft, including connecting Macao International Airport and Hong Kong.
Hong Kong SAR Government officials attending the Meeting included the Secretary for Constitutional and Mainland Affairs, Mr Patrick Nip; the Permanent Secretary for Constitutional and Mainland Affairs, Mr Roy Tang; the Under Secretary for Commerce and Economic Development, Dr Bernard Chan; Deputy Secretaries for Transport and Housing, Ms Ivy Law and Mr Wallace Lau; the Project Manager (Hong Kong-Zhuhai-Macao Bridge Hong Kong Project Management Office) of the Highways Department, Mr Albert Lee; Deputy Director-General of Trade and Industry, Miss Winky So, and representatives from relevant bureaux and departments.
Ends/Friday, October 27, 2017
Issued at HKT 18:19
The Financial Secretary, Mr Paul Chan (sixth right), and the Secretary for Economy and Finance of the Macao Special Administrative Region, Mr Lionel Leong (sixth left), co-chair the 10th Hong Kong Macao Co-operation High Level Meeting in Hong Kong today (October 27).
The Financial Secretary, Mr Paul Chan (right), shakes hands with the Secretary for Economy and Finance of the Macao Special Administrative Region, Mr Lionel Leong, before the 10th Hong Kong Macao Co-operation High Level Meeting in Hong Kong today (October 27).
The Financial Secretary, Mr Paul Chan (second right), addresses the 10th Hong Kong Macao Co-operation High Level Meeting in Hong Kong today (October 27).
The Financial Secretary, Mr Paul Chan (right), and the Secretary for Economy and Finance of the Macao Special Administrative Region (SAR), Mr Lionel Leong, signed the Hong Kong SAR and Macao SAR Closer Economic Partnership Arrangement today (October 27) in Hong Kong.