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The Hong Kong Economic and Trade Office, Brussels (HKETO, Brussels) told Spanish companies at business seminars held in Madrid (April 12, Madrid time) and Barcelona (April 13, Barcelona time) how Hong Kong could help them seize opportunities in Hong Kong, as well as those that will arise from China's visionary Belt and Road Initiative.
The Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Ms Shirley Lam, briefed business people in both places about Hong Kong's enduring advantages and strengths as a major financial, logistics and business services centre.
"We take pride in the fact that Hong Kong has always been the 'super-connector' connecting the Mainland with the rest of the world, and we stand ready to help Spanish companies seize the far-reaching opportunities the Belt and Road Initiative will provide," Ms Lam said.
Underlining that Hong Kong is one of the most business-friendly places in the world and has a simple and low taxation system, Ms Lam said that the comprehensive agreement for the avoidance of double taxation concluded by Spain and Hong Kong, which has been effective since April, 2012, provides excellent financial incentives for Spanish companies to do business or invest in Hong Kong, where corporate tax is a maximum of 16.5 per cent of profits.
Spain and Hong Kong have also signed a Memorandum of Understanding on Co-operation in Wine-related Business, effective since October, 2008. Ms Lam encouraged more wine producers to make good use of Hong Kong's advantages as a duty-free port with zero duty for wine imports and as a regional logistics hub. She informed them that since last November, wine traders can also benefit from instant customs clearance at all the ports in Beijing, Shanghai, Tianjin, Guangzhou and Shenzhen for wine entering the Mainland from Hong Kong.
Ms Lam said that in addition to its traditional pillar industries of trading and logistics, financial services, professional and producer services, and tourism, new business sectors like innovation and technology are developing rapidly in Hong Kong, which has a flourishing start-up ecosystem.
The seminar in Madrid on April 12 was co-organised by HKETO, Brussels and the Hong Kong Trade Development Council (HKTDC), with the support of the Spanish Confederation of Employers' Organisations (CEOE). The speakers were introduced by Vice-President of the Commission for International Relations of the CEOE in Madrid, Dr Julián Núñez. In addition to Ms Lam, they included the Regional Director Europe of HKTDC, Mr Stephen Wong; the Director General of Kerry Logistics Spain, Mr Sebastián Bernardo; and Ms Silvia Torices de la Varga from the Directorate General for Macroeconomic Analysis and the International Economy of Spain's Ministry for Economics and Competitiveness, who spoke about the new Asian Infrastructure Investment Bank.
The seminar in Barcelona on April 13 was organised by HKETO, Brussels and the HKTDC, with the support of Foment del Treball Nacional, the federation that represents the interests of entrepreneurs, business and industry of the Catalonia region. The speakers were introduced by the President of the Commission for International Relations of Foment del Treball Nacional, Mr Joan Casals. They included Mr Wong, Mr Bernardo and Ms Torices de la Varga.
The two events are part of a series of seminars the HKETO, Brussels is organising or supporting around Europe to promote Hong Kong, in particular its role under the Belt and Road Initiative. Previous events were held in Venice, Italy (March 15) and Bucharest, Romania (March 21). The next will be in Brussels, Belgium (April 20).
Ends/Thursday, April 14, 2016
Issued at HKT 00:57
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