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New Office Strengthens HK-German Ties,
by Mary Swire, Tax-News.com, Hong Kong
Monday, May 25, 2009
The Hong Kong Economic and Trade Office in Berlin will strengthen the bilateral
economic and trade relationships between Hong Kong and Germany, Austria, the
Czech Republic, Hungary, Poland, the Slovak Republic, Slovenia and Switzerland,
the office's director, Stephen Wong, has announced.
Speaking at a business reception to mark the office's inauguration, Mr Wong
explained how Hong Kong is uniquely positioned as Asia's World City and the
gateway to mainland China.
"We signed in 2003 a Closer Economic Partnership Arrangement, or CEPA,
with Mainland China, and concluded six supplementary agreements since then -
the most recent one being signed 10 days ago," he said, adding:
"Under CEPA, all goods of Hong Kong origin enjoy zero tariff in the mainland
market. A total of 42 service sectors are given preferential treatment, including
those in which German companies may be interested such as telecommunications,
technology and environmental services."
Mr Wong said Hong Kong is prepared to revise its laws to update the standards
for the exchange of tax information internationally, which has already been
positively acknowledged by the Organization for Economic Co-operation &
Development.
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