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New Zealand's Trade Talks With Hong Kong Resume,
by Mary Swire, Tax-News.com, Hong Kong
Thursday, May 07, 2009
New Zealand's Trade Minister Tim Groser has welcomed the resumption of trade
talks with Hong Kong, explaining he is hopeful negotiators will be able to take
positive steps forward.
"Resumption of negotiations towards a Closer Economic Partnership (CEP)
with Hong Kong enables us to look at taking relations to a new level and will
provide a valuable platform to stimulate growth in our trading relationship,"
Mr Groser stated, adding:
"Prime Minister John Key's recent meeting at the Boao Forum with Hong
Kong Chief Executive Donald Tsang, has highlighted the strength of the relationship.
Prime Minister Key reinforced our commitment to raising the profile of New Zealand
business in Hong Kong and capitalizing on new opportunities."
New Zealand and Hong Kong originally commenced CEP negotiations in 2001 but,
after five rounds of talks, the negotiations were suspended in 2002. With the
conclusion of the New Zealand - China Free Trade Agreement, the way has been
cleared to resume discussions.
"Hong Kong is a very important partner for New Zealand - both commercially
and strategically as a key services and investment hub for the North Asia region.
Hong Kong is the world's 12th largest trading economy. It is also the second
largest source of Foreign Direct Investment (FDI) in Asia," Groser continued,
further stating:
"More secure and open access to the Hong Kong market will place New Zealand
in a good strategic position to capitalize on new trade and investment opportunities
in this region, including into China."
"At this critical phase in world financial events, re-engaging with Hong
Kong in these trade talks sends out a very positive signal to the region and
underlines the value that both parties attach to genuine liberalization. Our
message to the global economy is that New Zealand remains open for business,"
Mr Groser concluded.
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