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Following is the speech by the Financial Secretary, Mr John C Tsang, at the signing ceremony of the Hong Kong and Chile Free Trade Agreement in Vladivostok, Russia, this afternoon (September 7):
President Piñera, Minister Moreno, distinguished guests, ladies and gentlemen,
Good afternoon.
It gives me great pleasure to witness today the signing of the Free Trade Agreement between Hong Kong and Chile. The presence of all of you, not least President Piñera, underlines the importance of this milestone as well as the importance of this economic relationship.
Chile is a close and valued trading partner of Hong Kong. We are both strong advocates and practitioners of free and open trade and investment, and we have been working side by side in numerous international forums, including the WTO, APEC and so forth. While Santiago and Hong Kong might be half the globe apart, the physical distance has not hindered the steady growth of bilateral trade between our two economies over the years. Many high-quality Chilean goods, such as wine, fruits and seafood, which are all favourites of the Hong Kong people and the tens of millions of tourists that visit Hong Kong every year, they all have found favour even with the most discerning consumers here in Hong Kong.
The Free Trade Agreement signed today will further strengthen our partnership and serve as a platform to take our bilateral economic relations to a new level, offering a wealth of opportunities for our businesses as well as investors.
The Agreement that we have signed today is comprehensive and of high quality, encompassing trade in goods and services, investment, and other trade-related areas. Traders and investors of both sides can enjoy preferential access to our respective markets.
I strongly encourage businessmen from our two economies to make good use of the opportunities offered by this Agreement. For Hong Kong businessmen, Chile is not only in itself a fast growing market with enormous potential, but also a gateway to Latin America. For Chilean businesses, the Agreement provides incentives for you to expand your trade and investment in Hong Kong, as well as to capitalise on our gateway position and rich experience to access Mainland China as well as the South-east Asian markets.
Last but not least, I would like to thank Minister Moreno and Secretary So for their leadership in taking forward this FTA initiative. My appreciation also goes to the negotiation teams of both sides for their hard work and also for the professionalism in bringing this Agreement to fruition. The conclusion of the Agreement in less than seven months is a truly remarkable achievement. Congratulations.
President, ladies and gentlemen, both Hong Kong and Chile share the same strong commitment to trade and investment liberalisation and facilitation. So I look forward to our even closer relationships on all fronts in future and wish our businesses every success.
Thank you very much.
Ends/Friday, September 7, 2012
Issued at HKT 17:24
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