Press Release - October 16, 2003

The tremendous business opportunities available in Hong Kong for Canadian businesses under the Closer Economic Partnership Arrangement (CEPA) recently signed between Mainland China and Hong Kong will be the focus of a major Hong Kong Promotion which will be launched next week at Complexe Desjardins in Montreal.

Organized by the Hong Kong Economic and Trade Office (Canada) (HKETO) with the support of the Montreal City Government, the promotion entitled will take place between October 20 to 29 to further develop the partnership between Hong Kong and Montreal following HKETO�s successful cultural promotion, featuring a Cantonese opera, in
the city in October last year.

Switching from cultural to business as its theme, the forthcoming promotion will comprise of a business luncheon on business opportunities for Canadian businesses under CEPA, and a large-scale photo exhibition on Hong Kong�s infrastructure achievements and its ambitious plan to invest CAD$120 billion in some 1,600 infrastructure projects in the next ten years.

The photo exhibition will be on public display at Complexe Desjardins, the busiest commercial mall in downtown Montreal, starting on Monday, October 20. Opening hours of the photo exhibition will be from 8:00 am to 9:00 pm until October 29.

The highlight of the Hong Kong Promotion will be the business luncheon organized for the city�s business leaders and senior company executives to be held on October 21 (Tuesday) at the Wyndham Hotel at 12:00 noon. At the luncheon, the HKETO Director, Mr Bassanio So, will brief the Montreal business community on the considerable business opportunities available for them in Hong Kong and China, especially in the Pearl River Delta region, and the advantages of partnering with Hong Kong to enter the China market.

Under CEPA, signed between Mainland China and Hong Kong in late June this year, Hong Kong companies will be allowed to have greater access to the vast China market and 90 per cent of Hong Kong�s trade in goods will enjoy zero import tariff to China with effect from January 1, 2004.

As for the trade in services, 18 sectors of business in Hong Kong will benefit from CEPA. Broadly speaking, the liberalization of the China market permits earlier access to Hong Kong companies and services providers to the Mainland market, ahead of China�s World Trade Organization timetable. Foreign companies partnering with Hong Kong will gain such benefits.

Mr So will also share with Montreal companies the excellent business opportunities in Hong Kong as the hub of the rapidly developing Pearl River Delta Region and Hong Kong�s close economic integration with China, as well as the distinctive advantages that Hong Kong can offer to foreign companies, including those in Canada.

The luncheon will be followed by an opening ceremony of the �Building a Dynamic Hong Kong� photo exhibition at around 2:15 pm. The Vice-President of the City of Montreal�s Executive Committee, Mr Michel Prescott, and other distinguished guests will join the HKETO Director, Mr Bassanio So, to declare the photo exhibition open.

The photo exhibition provides an overview of the Hong Kong Special Administrative Region Government�s plan for major initiatives involving a total investment of CAD$120 billion on some 1,600 infrastructure projects over the next ten years. These projects represent tremendous business opportunities for Canadian companies, especially those in engineering, architectural, construction and landscaping sectors.

For enquiries of the Hong Kong Promotion in Montreal, please contact the Project Consultant, Mr. Jules Nadeau, at (514)354-2643.


For further information, please contact John Tam, Chief Information Officer at (416)924-5544, email [email protected] or Elison Chu, Senior Information Officer, [email protected] or Jules Nadeau, Project Consultant at (514)354-2643 or email [email protected]