CY Leung says Hong Kong is in discussions with Beijing over latest Cepa trade deal
Provincial and city leaders working to eliminate trade barriers on services, but scheme has yet to be approved by central government
Hong Kong and Guangdong are still working to tear down more barriers to cross-border trade in services, leaders of the two governments said yesterday, as business chiefs bemoaned the long wait for details of the agreement.
A scheme first touted in 2011 to allow Hong Kong businesses easier access to the Guangdong market in a range of services is under discussion, but no details emerged from the latest meeting between the two sides.
Guangdong Governor Zhu Xiaodan said the pilot scheme, scheduled to be implemented this year, was still awaiting approval from the central government, although he said good progress had been made.
"We are still trying to secure the endorsement from the Commerce Department," Zhu said after attending the 17th cooperation meeting between the two governments in Guangzhou.
Chief Executive Leung Chun-ying said the measure was important, as 90 per cent of Hong Kong's gross domestic product came from service industries. "We hope to further remove the limitations Hong Kong businesses face when they enter the Guangdong and even the [overall] mainland market," he said.
Leung added that the city government was in discussions over the plan with Beijing under the Closer Economic Partnership Agreement (Cepa), the cross-border free-trade agreement.
Yesterday, the parties signed five agreements on cooperation in such areas as the creation of a new research and development institutions, cultural exchanges and weather technology.
