Business leaders from Hong Kong and Japan have called for stronger strategic partnership to maximise opportunities in the Chinese mainland now that China is a member of the World Trade Organisation.
At today's (Feb 4) Plenary Session of the Hong Kong/Japan and Japan/Hong Kong Business Co-operation Committees, meeting in Hong Kong, it was also noted that Hong Kong would remain crucial as a base for Japanese business in the mainland.
Jointly chaired by Dr. Raymond Ch'ien and Dr. Sadao Umeda, the committees promote trade, investment, tourism and understanding between Hong Kong and Japan.
Hosting a luncheon for the two committees, Chief Executive Mr. Tung Chee-Hwa outlined his vision of Hong Kong as a partner for enterprises from around the world to develop their business in the mainland, especially the rapidly-developing Pearl River Delta region.
During their plenary session, the committees exchanged views on four main topics:
Recent economic trends and future economic policies in Japan and Hong Kong Opportunities arising from China's WTO entry, hosting of the 2008 Olympics, in Beijing, and development of its western region Increased potential for Japan-Hong Kong strategic business partnerships in the mainland market, Steps being taken by Hong Kong to increase its competitiveness and value as a knowledge economy and global financial centre. In a joint communique, the committees acknowledged they had met at a time of widespread economic gloom, in the midst of a global recession.
"Both Hong Kong and Japan are tackling the challenge of fundamental economic restructuring and intensifying competition arising from globalisation.
"But both sides were greatly encouraged by the huge and unprecedented opportunities now emerging as a result of China's accession to the World Trade Organisation (WTO) in December."
The committees said that the opening-up of the enormous mainland market to goods and services from overseas offered the brightest ray of hope in the global economy.
It was noted that, even with China in the WTO, Hong Kong would remain crucial as a base for Japanese business in the mainland, especially in respect of manufacturing, finance, logistics, information and intellectual property protection.
"Members agreed to explore actively strategic business partnerships to maximise opportunities in the Chinese mainland," the communique said.
It was noted that, as a vehicle for high-level discussion between the Hong Kong and Japanese business communities, the Committees provided an indispensable supplement to formal governmental dialogue. They were also an invaluable point of reference for policy-makers and a platform for initiating new partnerships between companies in Hong Kong and Japan.
The Committees will hold their 25th plenary session in Japan. The Hong Kong Trade Development Council serves as the secretariat for the Hong Kong/Japan Business Co-operation Committee and the Keidanren (Federation of Economic Organisations) is the secretariat for the Japan/Hong Kong Business Co-operation Committee.
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