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Addressing a business seminar entitled “CEPA — A New Expressway to China Through Hong Kong”, the Director of the Hong Kong Economic and Trade Office (Canada) (HKETO), Mr Bassanio So, said the Closer Economic Partnership Arrangement is one of the strongest examples of ‘One Country, Two Systems’ and underscores China’s commitment to the rule-based global trading system.
“Although CEPA is a free-trade agreement between Hong Kong and Mainland China, overseas companies, including Canadian companies, will benefit from it,” he said.
Mr So outlined the significant benefits that CEPA affords to Canadian businesses, such as tariff elimination on 90% of Hong Kong goods exported to China, preferential treatment to Hong Kong service providers in 18 service sectors and simplification of cross-border trade between Hong Kong and China.
He explained that Canadian companies can partner with a Hong Kong company in order to obtain the CEPA advantages. “Even without a manufacturing operation in Hong Kong,” he said, “you may partner with, or outsource to, a Hong Kong manufacturer to enable your product to enjoy tariff-free treatment under CEPA.”
The “CEPA — A New Expressway to China Through Hong Kong” seminar was jointly organized by HKETO, Mississauga Board of Trade and Mississauga Board of Chinese Professionals and Businesses.
More information about CEPA can be found on our website: www.hketo.ca.
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