SCED holds bilateral meeting with Minister of Commerce and Consumer Affairs of New Zealand
The Secretary for Commerce and Economic Development, Mr Gregory So, this morning (September 7) held a bilateral meeting with the Minister of Commerce and Consumer Affairs of New Zealand, Mr Paul Goldsmith, in Cebu, the Philippines, ahead of the second Asia-Pacific Economic Cooperation Structural Reform Ministerial Meeting.
During the meeting, Mr So and Mr Goldsmith exchanged views on issues relating to trade and economic relations between Hong Kong and New Zealand, as well as the protection of consumer rights in Hong Kong.
Mr So noted that a 5 per cent average annual growth rate was achieved in bilateral trade in goods between Hong Kong and New Zealand from 2010 to 2014. The figure demonstrated a substantial growth in trade between the two economies, he said.
Mr So also briefed his counterpart on the Hong Kong Special Administrative Region Government's commitment to ensuring market competition. In particular, he pointed out that the Competition Ordinance, which has been implemented in phases since 2012 and is expected to become operative at end-2015, will prohibit anti-competitive agreements like price fixing and prevent companies that have substantive market power from abusing such power to harm competition.
To this end, the Competition Commission established under the Ordinance has been actively engaging with competition authorities in overseas jurisdictions, including its New Zealand counterpart and the international competition community, in order to benefit from exchange of experience and facilitate future co-operation.
"As an open and free economy, Hong Kong has long valued innovation and market efficiency. We believe that the commencement of the Ordinance would further strengthen competition in Hong Kong's market, stimulating innovation in the long run and further enhancing market efficiency," said Mr So.
Ends/Monday, September 7, 2015