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Policy Statement & Submission

2025/03/10

Potential Tax Treaty Partners for Hong Kong

10 March 2025

Mr Ian Chin
Principal Assistant Secretary for Financial Services and the Treasury (Treasury) (R2)
Financial Services and the Treasury Bureau
24/F, Central Government Offices
2 Tim Mei Avenue, Tamar
Hong Kong

Dear Mr Chin,

Potential Tax Treaty Partners for Hong Kong

Thank you for your letter of 7 February 2025 inviting the Hong Kong General Chamber of Commerce to provide suggestions on prospective jurisdictions that Hong Kong should actively pursue Comprehensive Avoidance of Double Taxation Agreements.

It is crucial to accelerate the expansion of Hong Kong’s tax treaty network to enhance our attractiveness as a preferred destination for international business operations amid evolving global tax landscapes. We are hopeful that meaningful progress can be made in the short term by actively engaging with the jurisdictions listed in the attached document. Furthermore, we highly recommend that the Government allocate additional resources to expedite the process.

We hope you will find our recommendations useful.

Yours sincerely,

Patrick Yeung
CEO

Encl.

Proposed CDTA Partners to be Accorded with Priority

Jurisdiction	Reasons for the need to accord priority to the proposed jurisdiction
Asia
Singapore	Hong Kong’s 4th largest trading partner (2024), Belt and Road economy, APEC member, Free Trade Agreement with Hong Kong.
Sri Lanka	Belt and Road economy, Increasing trading activities in the country.
Taiwan	Hong Kong’s 2nd largest trading partner (2024), APEC member, Important investment source.
The Philippines	Hong Kong’s 13th largest trading partner (2024), Belt and Road economy, APEC member, Free Trade Agreement with Hong Kong.
Australasia
Australia	Hong Kong’s 21st largest trading partner (2024), APEC member, Free Trade Agreement with Hong Kong, Major commodities/natural resources player that is of interest to Mainland investors.
Middle East and North Africa (MENA)
Egypt	Hong Kong’s 5th largest export market in the MENA region (2024), Belt and Road economy, Key market for investors in the MENA region.
Americas
Brazil	Hong Kong’s 2nd largest trading partner in Latin America (2024), Belt and Road economy.
Chile	Hong Kong’s 3rd largest trading partner in Latin America (2024), APEC member, Fulfilment of an agreement in principle reached in October 2019, Free Trade Agreement with Hong Kong.
Peru	Hong Kong’s 5th largest trading partner in Latin America (2024), APEC member, Free Trade Agreement with Hong Kong.
USA	Hong Kong’s 3rd largest trading partner (2024), APEC member, Important investment source.

HKGCC Secretariat
March 2025

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