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Commerce and Industry
The Pacific Economic Co-operation Council (PECC) is a non-governmental regional forum comprising government officials, business leaders and academics. It works on policy issues to enhance trade, investment and economic development in the Pacific region. The Hong Kong Committee for Pacific Economic Co-operation advises on and co-ordinates the HKSAR's participation in the PECC and plays an active role in the PECC's activities.
Organisation for Economic Co-operation and Development
Hong Kong is an observer on the Trade Committee and the Committee on Financial Markets of the Organisation for Economic Co-operation and Development, which are important forums for discussing policies on international trade and financial services.
Regional and Bilateral Trade Agreements
To secure more favourable access to overseas markets for Hong Kong goods and services, the Government continues to pursue free trade agreements (FTAs) with trading partners that are in Hong Kong's interests, consistent with WTO provisions and that contribute to multilateral trade liberalisation. In 2012, Hong Kong signed an FTA with Chile and has been actively pursuing closer economic partnership with the Association of Southeast Asian Nations so as to allow local traders and investors to access the Southeast Asian market under more favourable conditions and contribute to further regional economic integration.
Liaison with the Mainland and the Mainland and Hong Kong Closer Economic Partnership Arrangement
The Mainland's rapid economic and trade growth has helped boost Hong Kong's external trade and intermediary services, and has facilitated economic and trade co-operation and integration between the two places. Since the Mainland and Hong Kong signed CEPA in June 2003, the two sides have concluded a number of supplements to broaden CEPA's coverage and to deepen the liberalisation measures in different service areas. The latest, Supplement IX, was signed in June 2012.
Since 1 January 2006, the Mainland has applied a zero tariff to all imported goods of Hong Kong. origin that meet the agreed CEPA rules of origin (ROOs). As at the end of 2012, the CEPA ROOS for some 1,740 products had been agreed. For trade in services, 338 liberalisation and facilitation measures have been announced, covering 48 service areas2. Under these measures, Hong Kong service suppliers enjoy preferential treatment in entering the Mainland's service industries. In addition, with the Mainland policy of expansion of domestic demand, the Government has been assisting Hong Kong enterprises in tapping the Mainland market. In June 2012, the Government introduced a $1 billion dedicated fund to assist Hong Kong enterprises in
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These service areas are: accounting, advertising, air transport, audiovisual, banking, building-cleaning, computer and related services, construction and related engineering, convention and exhibition, cultural, distribution, education, environmental, examinations for professional and technical qualification, freight forwarding agency, individually owned stores, insurance, inter-disciplinary research and experimental development services, legal, library, museum and other cultural services, logistics, management consulting, maritime transport, market research, medical, other business services, patent agency, photographic, placement and supply services of personnel, printing, public utility, rail transport, real estate, related scientific and technical consulting services, research and development, road transport, securities and futures, services incidental to manufacturing, services incidental to mining, services related to management consulting, social services, sporting, storage and warehousing, technical testing, analysis and product testing, telecommunications, tourism, trade mark agency, translation and interpretation.
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