​The Leisure and Cultural Services Department announced today (November 16) that the park located east of Fan Kam Road (i.e. part of the Old Course of the Fanling Golf Course), will reopen for public use on November 18. … read more
The Secretary for Commerce and Economic Development, Mr Algernon Yau, spoke at one of the plenary sessions entitled “building a resilient and interconnected region that advances broad-based economic prosperity” at the 34th Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting in San Francisco, the United States, today (November 15, San Francisco time).
At the plenary session, Mr Yau shared with other ministers that Hong Kong is translating APEC’s collective goal of advancing broad-based prosperity into domestic actions, through actively expanding economic opportunities for all in the community.
He said that Hong Kong has launched the Women Empowerment Fund with an annual funding support of about US$2.6 million (HK$20 million). The setting up of a dedicated Women Affairs Team and a Commissioner for Women Affairs in the Government was also announced recently to holistically steer work related to women’s affairs.
“Regionally, Hong Kong sees tremendous opportunities in economic integration initiatives to craft inclusive frameworks that widen economic participation. We welcome the reinvigorated discussions on the Free Trade Area of the Asia-Pacific and remain committed to constructive engagement in APEC to build consensus on next-generation trade and investment issues that are in the mutual interests of all member economies,” Mr Yau added.
Meanwhile, Mr Yau pointed out that the success of the World Trade Organization (WTO)’s 12th Ministerial Conference (MC) demonstrated the WTO’s relevance and ability to produce concrete trade solutions as WTO members bridged divergence across geopolitical divides, adding that result-oriented pragmatism and flexibility will again be key to achieving meaningful outcomes at the 13th MC in Abu Dhabi next year.
He urged member economies to accelerate efforts towards concluding the WTO Joint Statement Initiative on E-commerce and extending the Moratorium on Customs Duties on Electronic Transmissions.
“Also imperative is to restore a fully functional dispute settlement system, the defining pillar of the WTO that provides the predictability and stability needed for international trade,” Mr Yau added.
On the sidelines of the meeting, Mr Yau held bilateral meetings with the Minister of Foreign Trade and Tourism of Peru, Mr Juan Carlos Mathews Salazar, and the Deputy Minister of Commerce of Thailand, Mr Napintorn Srisunpang, to discuss various trade and economic issues. Mr Yau also met with the Minister of Economy, Trade and Industry of Japan, Mr Yasutoshi Nishimura, to exchange views on issues of mutual concern.
Mr Yau will return to Hong Kong on Saturday morning (November 18).
Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the plenary session themed “building a resilient and interconnected region that advances broad-based economic prosperity” at the 34th Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting in San Francisco, the United States, today (November 15, San Francisco time):
Good morning. It is a pleasure to see you all again. I would also like to thank the World Trade Organization (WTO) for joining us today.
The WTO’s recent forecast projects slowing trade growth this year, with supply chain fragmentation threatening the relatively positive outlook for 2024. The world is now at a critical juncture: we may either drift towards greater fragmentation, or advance together through partnership and collaboration. I believe the theme of today’s discussion has reflected the path that best serves our shared aspiration – to build resilience through co-operation for the prosperity of all our people.
In about three months’ time, we will gather again in Abu Dhabi for the WTO’s 13th Ministerial Conference (MC13). The WTO’s 12th Ministerial Conference’s success demonstrated the WTO’s relevance and ability to produce concrete trade solutions as members bridged divergence across geopolitical divides. I applaud the initiative of the Director-General of the WTO in convening the Senior Officials Meeting three weeks ago in Geneva, yielding very fruitful and candid exchange of views on the priorities for MC13. Result-oriented pragmatism and flexibility will again be key to achieving meaningful outcomes at MC13.
A few areas remain the top of Hong Kong, China (HKC)’s priorities. For one, the Work Programme on E-commerce is crucial to the success of MC13, as e-commerce emerges as a major force for connectivity and catalyst for economic empowerment. We must accelerate efforts towards concluding the WTO Joint Statement Initiative on E-commerce and extending the Moratorium on Customs Duties on Electronic Transmissions. Also imperative is to restore a fully functional dispute settlement system, the defining pillar of the WTO that provides the predictability and stability needed for international trade. We should carry our spirit of co-operation in APEC to Abu Dhabi next year and support continued constructive engagement in the relevant discussions.
The world is looking to the WTO to contribute innovative and progressive solutions that empower diverse groups among our society and tackle pressing sustainability concerns. As we approach MC13, expediting efforts to integrate the Investment Facilitation for Development (IFD) Agreement into the WTO rulebook would be vital to realise the opportunities brought about by the IFD Agreement to foster inclusive economic participation by creating a more transparent and efficient investment environment. And as an incubator of ideas, APEC’s continued work on developing a new, voluntary, non-binding APEC Reference List of Environmental Goods would hopefully inject new impetus into international trade collaboration for overcoming shared climate challenges.
For HKC, we are translating the collective goal of advancing broad-based prosperity into domestic actions, through actively expanding economic opportunities for all in our community. Apart from the measures to support small and medium enterprises that I shared yesterday, to strengthen support for women’s development, HKC launched the Women Empowerment Fund in June 2023 with an annual funding support of about US$2.6 million (HK$20 million). To holistically steer work related to women’s affairs, the Chief Executive also recently announced the setting up of a dedicated Women Affairs Team and a Commissioner for Women Affairs in the Government.
Regionally, HKC sees tremendous opportunities in economic integration initiatives to craft inclusive frameworks that widen economic participation. We welcome the reinvigorated discussions on the Free Trade Area of the Asia-Pacific and remain committed to constructive engagement in APEC to build consensus on next-generation trade and investment issues that are in mutual interests of all member economies.
Our region can only grow stronger and be more resilient when benefits of growth are widely shared by all. I look forward to closer collaboration with you all as we stride forward to advance an open, dynamic, resilient and peaceful Asia-Pacific community, as aspired in the APEC Putrajaya Vision 2040.
Thank you. read more
Attention duty announcers, radio and TV stations:
The fire danger situation today (November 16) is red and fire risk is extreme. The countryside is extremely vulnerable to fire. If you are planning to spend the day in the countryside, please take pre-cooked food for a picnic and take all measures to prevent hill fires. The penalty for lighting fires illegally in the countryside is $25,000 and a year’s imprisonment. read more
The Government of the Hong Kong Special Administrative Region (HKSAR) today (November 15) strongly disapproved of and firmly rejected the untruthful remarks, slanders and smears against various aspects of the HKSAR in the so-called “report” of 2023 issued by the United States-China Economic and Security Review Commission (USCC).
A spokesman for the HKSAR Government said, “The HKSAR Government strongly disapproves of and firmly rejects the USCC’s manoeuvre with politics prevailing over the rule of law and its interference in the affairs of the HKSAR through the so-called ‘report’. The HKSAR is an inalienable part of the People’s Republic of China, is a local administrative region that enjoys a high degree of autonomy under ‘one country, two systems’, and comes directly under the Central People’s Government. The HKSAR will continue, in accordance with the law, to effectively prevent, suppress and punish acts and activities that endanger national security and to safeguard the rights and freedoms enjoyed by Hong Kong people. The HKSAR Government strongly urges again those individual United States politicians to discern facts from fallacies, and immediately stop acting against the international law and basic norms that govern international relations and interfering in the affairs of the HKSAR, which are purely China’s internal affairs.”
The spokesman reiterated, “Under the ‘one country, two systems’ principle, Hong Kong has the distinctive advantage of enjoying strong support of the motherland and being closely connected to the world. With the unparalleled connectivity with the Mainland and the rest of the world, Hong Kong will continue to play its unique role as a ‘super-connector’ and ‘super value-adder’. With the strong support of the motherland, and the wide room for development brought about by national strategies including the National 14th Five-Year Plan, the Guangdong-Hong Kong-Macao Greater Bay Area development and the high-quality development of the Belt and Road Initiative, Hong Kong embraces unlimited business opportunities. The HKSAR Government will continue to create strong impetus for growth at full steam, forge a better integration of a capable government and an efficient market, and proactively compete for enterprises and talent to strengthen the city’s competitiveness, with a view to steadily advancing from stability to prosperity in the new phase.” read more