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HK-Macau pact signed


Financial Secretary Paul Chan co-chaired the 10th Hong Kong Macao Co-operation High Level Meeting with Macau?s Secretary for Economy & Finance Lionel Leong in Hong Kong today.

 

Mr Chan and Mr Leong signed the HK-Macao Closer Economic Partnership Arrangement before the meeting.

 

Noting the arrangement covers investment, intellectual property, economic and technical co-operation, as well as goods and services trade, Mr Chan said the commitments go beyond those undertaken by the two sides under the World Trade Organisation.

 

The pact will take immediate effect, while commitments on the liberalisation of goods and services trade will come into effect on January 1, 2018.

 

In the meeting, both sides pledged to continue creating a business-friendly environment for companies of the two places and jointly promote multi-destination itineraries, investment, and trade and exhibition.

 

They also agreed to work with Guangdong Province to press ahead with the development of the Guangdong-Hong Kong-Macao Bay Area.

    

?Being the country?s special administrative regions, both Hong Kong and Macau possess unique advantages which enable the two places to play different but complementary roles in the country?s development.

 

?Complementing the development strategy of the Belt & Road Initiative, the bay area development will present historic opportunities for the future development of Hong Kong and Macau,? Mr Chan said.


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