HK, New Zealand Work towards Closer Economic PartnershipHong Kong and New Zealand have agreed to commence negotiations on a closer economic partnership agreement.The Chief Executive Tung Chee Hwa and the visiting Prime Minister of New Zealand Helen Clark reached agreement to start formal negotiations at a meeting held at Government House Tuesday evening. The negotiations will encompass a wide-ranging scope as agreed earlier at the exploratory talks between the two sides, with emphasis on trade and investment liberalization and facilitation. Tung said, "We are confident that the parameters of negotiations agreed have laid a good foundation for a high- standard agreement, which will strengthen further economic and trade relations between Hong Kong and New Zealand." Hong Kong and New Zealand both practise free trade and maintain a free and open economy. The two places also share a common interest in the further liberalization of world trade and the strengthening of the multilateral trading system under the World Trade Organization (WTO). Tung noted that these developments amply demonstrated the close and friendly relationship between Hong Kong and New Zealand, both in terms of trade and people-to-people links. Hong Kong is New Zealand's seventh largest export market and the sixth largest source of inward investment into New Zealand. Tung updated Clark on Hong Kong's economic situation and briefed her on the trade and investment opportunities following China's accession to the WTO. He hoped that more New Zealand companies would come to Hong Kong or use Hong Kong as a springboard into China's mainland and other markets in East Asia. Clark, accompanied by her husband Professor Peter Davis, is travelling with an official delegation and a group of New Zealand businessmen. They are in Hong Kong on the first leg of their China visit. |
| People's Daily Online --- http://english.peopledaily.com.cn/ |