SCED: Hong Kong seeks to forge closer trade partnership with Vietnam (with photos)
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Noting that Hong Kong and Vietnam have enjoyed cordial relations over many years, Mr Yau said at a business forum and networking luncheon that their bilateral trade has grown significantly at an average annual growth rate of 11.8 per cent from 2017 to 2021 and Vietnam has become Hong Kong's seventh largest trading partner.
Hong Kong's total merchandise trade with Vietnam in 2021 amounted to $220 billion, up 19 per cent from 2020, putting Vietnam as the second largest trading partner of Hong Kong among the 10 member states of Association of Southeast Asian Nations. Bilateral trade in the first half of 2022 continued to perform strongly, amounting to $125 billion, up 21 per cent compared with the corresponding period in 2021.
"Hong Kong has made a request to join the Regional Comprehensive Economic Partnership (RCEP) of which Vietnam is a member. Hong Kong's prospective membership in the RCEP will further deepen the bilateral relations between Hong Kong and Vietnam, and bring more business and investment opportunities to the business communities of both places," he said.
He also shared his insights with more than 300 guests, including government officials and representatives from the local business sector, on the latest trade and economic developments in Hong Kong, especially the new measures to attract enterprises and investments, as well as Hong Kong's unique advantages under "one country, two systems". A Hong Kong business delegation jointly organised by a number of Hong Kong chambers of commerce also attended the event.
"With the 'one country, two systems' principle, underpinned by an open and free market, a robust institutional framework, free movement of capital, a simple and low tax regime, a deep pool of multicultural talents, as well as a fine tradition of the rule of law and an independent judiciary, Hong Kong has made impressive achievements on multiple fronts.
"Hong Kong's financial and professional services adhere to the best global practices and standards. I encourage Vietnam businesses to make use of Hong Kong's excellent services and platform to expand in the region, in the Guangdong-Hong Kong-Macao Greater Bay Area, Mainland China and beyond," he added.
After the business forum and networking luncheon, Mr Yau met with the Minister of Planning and Investment of Vietnam, Mr Nguyen Chi Dung, and the Minister of Science and Technology of Vietnam, Mr Huynh Thanh Dat, respectively to exchange views on issues of mutual interest and explore collaboration opportunities.
Mr Yau will return to Hong Kong this evening.
Ends/Tuesday, January 10, 2023
Issued at HKT 18:40
Issued at HKT 18:40
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