Tuesday, June 17, 2003
China, HK to sign free trade pact by end June
Reuters Hong Kong, June 13
Mainland China and Hong Kong will sign a long-awaited free trade agreement by the end of June, hoping China's huge and robust economy will help pull the territory out of years of economic malaise.
"We won't miss the deadline (the end of June)," Secretary for Commerce, Industry and Technology, Henry Tang told reporters on Friday.
Hong Kong has lobbied long and hard for the pact -- called the Closer Economic Partnership Agreement (CEPA). Political observers say Beijing is throwing a lifeline to Hong Kong and the deal holds comparably few benefits for the mainland.
China is Hong Kong's main trading partner. Officials said details of the agreement were still being negotiated but it is widely expected to include the waiver of tariffs for a wide range of Hong Kong-made goods.
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