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Around 100 guests attended the business luncheon in Dublin, co-organised by the Hong Kong Economic and Trade Office, Brussels and the Hong Kong Trade Development Council, on September 28 (Dublin time) to celebrate the 15th anniversary of the establishment of the Hong Kong Special Administrative Region of the People's Republic of China.
In her welcoming remarks, the Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Miss Mary Chow, said that since Hong Kong's reunification with China in 1997, the unique principle of "One Country, Two Systems" has been operating well. Guaranteed by the Basic Law, Hong Kong continues to enjoy a high degree of autonomy and has kept all its freedoms and its own economic and legal systems.
By enhancing its connectivity with Mainland China to open the door further to cross-boundary trade and finance whilst maintaining its uniqueness as a Special Administrative Region, Hong Kong has strengthened its position as a leading global business and financial centre.
Miss Chow pointed out the many opportunities that exist in Hong Kong for Irish companies and encouraged Irish businessmen to visit the city to see for themselves what Hong Kong can offer as a location for them to expand their business to Asia. As one of the most business-friendly cities in the world, as confirmed by the Doing Business Report 2012 published by the World Bank which ranked Hong Kong second out of 183 economies, Hong Kong maintains a level playing field for business. Regardless of their ownership and nationality, eligible companies that operate in Hong Kong can take advantage of Hong Kong's free trade agreement with the Mainland, the Closer Economic Partnership Arrangement. There is legal protection for contracts, and arbitration awards made in Hong Kong and Mainland China are reciprocally enforceable.
Miss Chow added that low, simple and reliable tax system represents another major Hong Kong advantage. The avoidance of double taxation agreement signed between Hong Kong and Ireland in June 2006, which became effective in Hong Kong in February 2011 and in Ireland from January 1 this year, further provides added incentives for trade and investment between the two economies.
Other speakers at the business luncheon were the Irish Minister for Jobs, Enterprise and Innovation, Mr Richard Bruton TD; the Regional Director, Europe of the Hong Kong Trade Development Council, Ms Lore Buscher; and the Chairman of the Ireland Hong Kong Business Forum, Mr Ronan King. The business luncheon also served to celebrate the 10th anniversary of the Ireland Hong Kong Business Forum.
Ends/Saturday, September 29, 2012
Issued at HKT 03:55
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