Mainland's accession to TAC no impact on HK: official

Home>>Business

Last updated at: (Beijing Time) Thursday, November 06, 2003

Mainland's accession to TAC no impact on HK: official

DISCUSSION

CHINESE

SEND TO FRIEND

Chinese mainland's accession to the Treaty of Amity and Cooperation (TAC) with the Southeast Asian countries will not have any direct effect on the economic relations between the Hong Kong Special Administrative Region (SAR)and these countries, a Hong Kong official said Wednesday.

Speaking at a Legislative Council meeting, Secretary for Commerce, Industry and Technology John Tsang said the TAC is a framework agreement that promotes regional peace and stability, and not an economic and trade arrangement.

A peaceful and amicable relationship between China and ASEAN (the Association of Southeast Asian Nations) will help create and maintain a conducive environment for economic and trade activitiesin the region, said Tsang.

In regard to the China-ASEAN Free Trade Area, the Hong Kong government understands that the two sides agreed to establish a free trade area by 2010, and negotiations are still ongoing.

Tsang said that under the principle of "one country, two systems," the Chinese mainland and Hong Kong SAR, being two separate customs territories, are separate members of the World Trade Organization (WTO).

Both the mainland and ASEAN are major trading partners of Hong Kong. Geographically, Hong Kong is also located between the two parties, with much of their trade conducted through Hong Kong. In 2002, two-way re-export trade amounted to 15.6 billion US dollars.

When the trade barriers between mainland and ASEAN are reduced,Tsang said, bilateral trade will be further facilitated and "thereshould be positive effect on Hong Kong's relevant re-export trade."

Questions?Comments? Click here

Another major move in China's diplomacy: commentary

Vietnam welcomes China's joining Treaty of Amity, Cooperation in Southeast Asia

China joins Treaty of Amity, Cooperation in Southeast Asia

Is English invading Chinese culture? ( 20 Messages)

Chinese fleet visit heart of US forces in the Pacific ( 15 Messages)

Global survey: Chinese women sexiest ( 56 Messages)

Economist: China has no need to worry about possible trade deficits ( 3 Messages)

Japanese students, teacher make apology in Xi'an ( 17 Messages)

China expects to see trade deficit in near future: official ( 9 Messages)