Trade Agreements Hong Kong

30 Furthermore, CEPA is the first bilateral trade agreement signed by Hong Kong. Another agreement is being negotiated with New Zealand. While the Hong Kong authorities do not question the priority of multilateral negotiations, they do not hide their desire to participate, like Singapore, in the dissemination of bilateral and regional agreements in order to strengthen the image of the SAR as a regional commercial market. On September 7, 2012, the governments of Chile and Hong Kong signed a free trade agreement at the APEC meeting in Vladivostok, Russia. 28THE CEPA is of great political importance. The agreement signed at the end of June 2003, on the occasion of the official visit of the new Chinese Premier Wen Jiabao to the Special Administrative Region, shows that maintaining Hong Kong`s prosperity remains the main objective of the PRC`s policy towards the Special Administrative Zone, not least because the Chinese authorities consider it to be the main factor in maintaining political stability in Hong Kong, as well as in the success of the “One Country, Two Systems” principle. The CEPA is thus the most visible sign of the Chinese authorities` desire to make Hong Kong benefit from Chinese growth by increasing economic penetration without calling into question the total autonomy of the economic territory of Hong Kong, which has also been symbolically strengthened by the conclusion of a bilateral trade agreement. For EFTA-Hong Kong, China Trade Statistics, see EFTA Trade Statistics Tool A separate and roughly equivalent closer economic partnership agreement was signed in 2003 between mainland China and Macau. Although it is not as expansionary as Hong Kong, it covers a number of industrial zones where Macau-based companies enjoy preferential access to the continental market. In addition, Macau signed a CEPA with Hong Kong in October 2017. For more information on these CEPA agreements, please consult the www.cepa.gov.mo. 26 Furthermore, the authorisation granted to Hong Kong operators to open shops in Guangdong Province in its own name and without access conditions has already led to the opening of 400 points of sale.

Wholesale and retail trade, imports and exportsThe main advantages granted to Hong Kong companies relate to the possibility of creating organizations that fully control them before opening this possibility to other foreign companies and the relaxation of access criteria, including the reduction of turnover thresholds. The benefit of these measures is called into question by the new legislation that liberalizes access to this type of activity. The European Free Trade Association (EFTA) was Hong Kong`s 13th largest trading partner. Merchandise trade between EFTA and Hong Kong amounted to HK$106.1 billion in 2019. In terms of trade in services, EFTA was our 17th largest trading partner, with bilateral trade in services amounting to $13.8 billion in 2018. The agreement provides for tariff concessions for processed agricultural products (Annex II). Tariff concessions on basic agricultural products are the subject of bilateral agreements between the EFTA states and Hong Kong, China. Describes the bilateral and multilateral trade agreements in which this country participates, including with the United States.

Contains websites and other resources for U.S. companies to get more information on how to use these agreements. 1 In the Hong Kong Special Administrative Zone and mainland China, a bilateral trade agreement was signed on 29 June 2003, known as CEPA (Closer Economic Partnership Arrangement)1. This Agreement consists of three sections: tariff reductions to 273 categories of products exported by Hong Kong to the People`s Republic of China (PRC); preferential opening of the Chinese market to Hong Kong service providers in 17 sectors (increased to 18 in September 2003); and a series of measures to facilitate bilateral trade in goods, capital and people. . . .