Byline: babalu03 Trade Minister Tim Groser hailed today s announcement of the conclusion of the New Zealand Hong Kong Closer Economic Partnership Agreement (CEP) as a significant further step towards regional economic integration.
Cepa, or closer economic partnership arrangement, is a free trade agreement under which China opens up certain goods and services markets to Hong Kong businesses.
The DPP also fears the trade pact would undermined Taiwan's sovereignty, comparing it with the Closer Economic Partnership Arrangement that Beijing signed in 2003 with its special administrative regions of Hong Kong and Macau.
The Japan-ASEAN Closer Economic Partnership (CEP) Experts Group, launched earlier this year, is slated to submit to the ministers a report saying the two sides are poised to launch negotiations next year to bolster their economic ties through such efforts as creating an FTA between them.
The expo is attended by over 30,000 SMEs from different product and service sectors, including owners, senior executives, entrepreneurs, new business start-up executives, and those who want to seize the opportunities of the Closer Economic Partnership Arrangement II (CEPAII) and China's accession into the World Trade Organization (WTO).
Hong Kong's Office of the Telecommunications Authority, China's Ministry of Industry and Information Technology and the Guangdong Communications Administration have signed a memorandum of understanding on the Mainland and Hong Kong Closer Economic Partnership Arrangement to allow Hong Kong service suppliers to distribute fixed-line and mobile telephone cards in Guangdong province, but for use in Hong Kong only.
A Closer Economic Partnership The backbone of what will likely be formalized into an economic partnership agreement is set out in great detail in the joint study released by the governments of Canada and the European Commission earlier this week.
Under the Closer Economic Partnership Arrangement China signed with Hong Kong in 2003, banks that earn the status of being a ''Hong Kong service provider'' can invest in banks or open branches in the mainland.
