HKSAR and UK issue joint statement on closer collaboration on trade and economic matters
The Commerce and Economic Development Bureau of the Government of the Hong Kong Special Administrative Region (HKSARG) and the Department for International Trade (DIT) of the United Kingdom (UK) issued a Joint Statement on Closer Collaboration between UK and Hong Kong on Trade and Economic Matters today (March 21) to forge broader and deeper collaboration on a number of priority areas.
"Hong Kong and the UK all along enjoy deep and strong economic and trade relations. We are pleased to issue this Joint Statement with the UK today to signify our commitment to creating a more prosperous partnership to benefit Hong Kong and UK businesses and people," the Secretary for Commerce and Economic Development, Mr Edward Yau, said.
The Secretary of State for International Trade of the UK, Dr Liam Fox, said, "The UK and Hong Kong have strong ties because of our shared history and our close people to people links. Britain's longstanding commitment to Hong Kong is as strong as ever. But our relationship is not just based on history - it is innovative, forward looking and dynamic, with excellent prospects for the future. As an international economic department, we want to further deepen our trade collaboration, and work together as champions of global trade. This Joint Statement is an example of our shared intention to continue to move forward together."
Collaboration areas covered by the Joint Statement include global free trade, innovation, creative industries and the Belt and Road Initiative.
On global trade, as both are strong advocates for free trade and open markets, Hong Kong and the UK have launched a Strategic Dialogue on Trade Partnership to further already sound and deep trade relations.
On innovation, the two sides will pursue collaboration in areas such as smart cities development, FinTech, key technology areas (including healthcare technologies, artificial intelligence and robotics technologies), and identify practical measures to simplify on-boarding arrangements for small and medium enterprises.
As creative industries are new drivers for further economic development, Hong Kong and the UK will identify collaboration and exchange opportunities of mutual benefit to each other, with particular focus on market expansion and talent nurturing.
Regarding the Belt and Road Initiative, more collaboration will be developed in the areas of project procurement and management, financial services, agency cooperation and collaboration, and education. On agency collaboration, a Memorandum of Understanding between DIT and Invest Hong Kong on investment promotion cooperation, with a particular focus on innovation and technology and other emerging sectors, will be signed on March 24.
"The Joint Statement has also set out some initial measures identified by the two governments. We will continue to explore other initiatives over the next 18 months," Mr Yau said.
The full text of the Joint Statement is available in the annex.
Ends/Wednesday, March 21, 2018