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The Year of the Ox - 2009 - is full of promise for a boost in trade links between Hong Kong and New Zealand, the Director of the Hong Kong Economic and Trade Office (HKETO), Ms Lorna Wong, said today (January 29, Auckland time).
Ms Wong said 2008 had seen a rise in bilateral trade and the Hong Kong Special Administrative Region Government would work to encourage greater trade ties over the coming 12 months.
Addressing more than 200 guests at a Chinese New Year reception in Auckland jointly organised by HKETO, the Hong Kong Trade Development Council, the Hong Kong Tourism Board and the Hong Kong-New Zealand Business Association, Ms Wong said two significant milestones included:
* A 10 percent rise in bilateral trade between Hong Kong and New Zealand in the first 10 months of 2008 over the same period in 2007; and
* A 27 percent increase in the number of visitors to Hong Kong from New Zealand over the past three years.
"The signing last year of the Free Trade Agreement between New Zealand and China bodes well for our future and I hope discussions on the Hong Kong-New Zealand Closer Economic Partnership agreement will commence soon," Ms Wong said.
She said Hong Kong remained a strong trade partner for New Zealand despite the global financial crisis and had taken steps to bolster its economy against the current downturn.
"Last October, the Hong Kong Government announced the formation of a task force chaired personally by the Chief Executive. Since then a comprehensive package of measures has been introduced," Ms Wong said.
The package includes:
* A 100 percent guarantee for bank deposits and the injection of liquidity into the local banking system;
* A special loan guarantee scheme helping small and medium enterprises secure credit from banks; and
* Increasing government investment in public infrastructure projects to more than HK $29 billion (NZ $7 billion) in 2009, leading to the creation of 45,000 jobs.
Ms Wong said Hong Kong's long-term prospects for economic growth remained strong with a plan, unveiled earlier this month, to further the economic integration of Guangdong, Hong Kong and Macao and enable joint economic planning across the Pearl River Delta.
"With a combined population of more than 54 million, the potential of this mega metropolis is enormous," she said.
Ms Wong said it was pleasing to see Hong Kong topped the Heritage Foundation's 2009 index of the world's freest economies, a position it has held for the past 15 years.
"This year, Hong Kong ranked first in trade, investment and financial freedom," Ms Wong said.
"In particular, the Foundation commended the transparency and efficiency of our banking and financial services. In the midst of the worst financial crisis in recent times, these are invaluable attributes."
Today's reception marked the beginning of a series of Chinese New year celebratory activities organised by HKETO. Similar receptions will also be held in the major cities in Australia, including Sydney, Brisbane, Melbourne, Perth, Adelaide and Canberra.
Ends/Thursday, January 29, 2009
Issued at HKT 19:14
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