A
consultation document has been prepared to help the Government formulate Hong Kong’s overall position in a free-trade agreement with Chile, after the two sides agreed to begin negotiations in early 2012, it was announced today.
Bilateral trade in goods between the two economies amounted to $6.061 billion in 2010, representing an average annual growth rate of 7.5% when compared with 2004. Bilateral trade in services between Chile and Hong Kong amounted to $573 million in 2009, representing an average annual growth rate of 7.6% when compared with 2003.
It is in Hong Kong's interest to negotiate a free-trade pact with Chile, to tap opportunities in this emerging market, and the opportunities it provides as a gateway to the South American region.
Among the South and Central American economies, Chile ranked fifth in GDP in 2010, but second in trade in goods and third in trade in services. While the South and Central American economies took up about 6% of world GDP, their share of world trade in goods and services was only around 3.4 to 3.8%. This suggests that the South American region has latent potential.
For details of the areas and issues to be negotiated, download the consultation document
here.
Views should be sent by January 20 to the Trade & Industry Department, by mail to Europe Division, 19/F, Trade & Industry Department Tower, 700 Nathan Road, Kowloon, fax to 2789 9761 or 2789 2491, or
email.
