Edward Yau Meets Trade Ministers

Secretary for Commerce & Economic Development Edward Yau has met with trade ministers and business leaders in Davos, Switzerland to promote Hong Kong's strengths as an international trading hub and to forge closer economic ties with its trading partners.

Mr Yau said it is of paramount importance that Hong Kong maintains its presence at major international forums like the World Economic Forum and the World Trade Organization meetings.

He said these provide very good opportunities for Hong Kong to establish and renew close contacts with its trade counterparts and to keep the city’s finger on the pulse of the global trade scene, which is conducive to maintaining Hong Kong's status as an international trade and financial centre.

Mr Yau said the current-term Government is striving to strengthen bilateral ties with like-minded trading partners and deepen Hong Kong's economic integration with different parts of the world.

He held a bilateral meeting with Canadian Federal Minister of International Trade Diversification James Carr to discuss the prospect of further strengthening trade co-operation between the two places.

Mr Yau also met Korean Minister for Trade of the Ministry of Trade, Industry & Energy Kim Hyun-chong to exchange views on trade issues and discuss the progress in setting up an Economic & Trade Office in Seoul.

Hong Kong signed Investment Promotion & Protection Agreements with Korea in 1997 and Canada in 2016.

Mr Yau also joined Financial Secretary Paul Chan to meet British Secretary of State for International Trade Liam Fox on forging closer bilateral economic ties, including exploring the possibility of a free trade agreement in future.

He told Mr Fox that Hong Kong welcomes more British companies setting up offices in Hong Kong and making use of the Mainland and Hong Kong Closer Economic Partnership Arrangement to enter into the Mainland market and tap the vast business opportunities there.

Mr Yau also took part in the "Informal Gathering of World Economic Leaders: The End of Global Trade as We Know it?" under the World Economic Forum where participating ministers and policy makers exchanged views on the outlook for free trade and the multilateral trading system in the present era.

He spoke on the challenges facing the current global economic and trade environment at the meeting.