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Commerce and Industry
Kenya, in December 2015. During the conference, Hong Kong and 52 other WTO members reached an agreement to eliminate tariffs on more information technology products starting July 2016.
Regional Economic Co-operation
Hong Kong continues to play an active role in enhancing regional economic co-operation. It takes part as a full and separate member in Asia-Pacific Economic Co-operation (Apec), a regional forum for high-level dialogue and trade and economic co-operation, under the name 'Hong Kong, China. In November 2015, the Chief Executive and the Secretary for Commerce and Economic Development represented Hong Kong in Manila, the Philippines, at the 23rd Apec Economic Leaders' Meeting and the 27th Apec Ministerial Meeting respectively. In 2015, some 80 per cent of Hong Kong's external trade was conducted with the other 20 Apec member economies.
The Pacific Economic Co-operation Council 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 Hong Kong's participation in the council and plays an active role in the council's activities.
Organisation for Economic Co-operation and Development
Hong Kong takes part in the Trade Committee and the Committee on Financial Markets of the OECD, which are important forums for discussing policies on international trade and financial services.
Regional, Plurilateral 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 our trading partners that are in Hong Kong's interests and are consistent with WTO rules. In 2015, Hong Kong continued its FTA negotiation with Asean with a view to concluding it by 2016. It also began discussions with Macao on a closer economic partnership arrangement in November. In addition, Hong Kong continued to take part in negotiations among some WTO members for a Trade in Services Agreement and an Environmental Goods Agreement. These agreements will enhance trade and investment flows between Hong Kong and relevant markets, generate new opportunities for Hong Kong businesses, and boost economic growth.
Liaison with the Mainland and CEPA
The Mainland's economic and trade growth has boosted Hong Kong's trade in goods and services. Since the signing of CEPA in 2003, the two sides have continuously broadened CEPA's coverage and deepened liberalisation on trade in services. In November, the two sides signed an Agreement on Trade in Services under the CEPA framework to basically achieve liberalisation of trade in services between the Mainland and Hong Kong. The agreement opens up 153 service subsectors on the Mainland to Hong Kong service suppliers, accounting for 95.6 per cent of all services subsectors according to the WTO's classification.
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