The Hong Kong General Chamber of Commerce, which has long supported the conclusion of a free trade agreement between Mainland China and Hong Kong, welcomes the announcement by Chief Executive Mr Tung Chee Hwa today that this free trade agreement, called the Closer Economic Partnership Arrangement (CEPA), is about to be signed between Beijing and Hong Kong at the end of this month, and that it will include zero tariff and service liberalization benefits.
"We are very heartened by this announcement, since we believe that it will be of help to us as we recover from SARS and we continue our economic restructuring. But everyone should realize that CEPA will not be a "magical pill" for all our ills, and we still need to work hard to rejuvenate our economy. However, there is no doubt that it will be a confidence booster to Hong Kong and to its citizens. On the other hand, China will find that this forges a closer economic integration between Hong Kong and the Mainland, which will actually bring more investments and benefits to China also. We are looking forward to the details to be announced on June 30th," said the Chamber's CEO, Dr Eden Y Woon.
__________________________________________________________________
For inquiries, please contact Dr Eden Woon, CEO, HKGCC at 2823-1211