Hong Kong and Taiwan have agreed to take turns organising regular joint meetings, with the next one to be held in Hong Kong next year, and to strengthen exchanges and co-operation on trade, finance, investment promotion and tourism.

The Hong Kong-Taiwan Economic & Cultural Co-operation & Promotion Council and the Taiwan-Hong Kong Economic & Cultural Co-operation Council held their first joint meeting in Taipei today.

Both sides expressed a common wish to enhance mutual understanding through the new platform, and to mutually participate in and promote bilateral exchanges and co-operation on trade and commerce, investment, finance, culture, transportation, technology, education and related matters.

The councils agreed Hong Kong and Taiwan should strengthen exchanges and co-operation on trade, finance, investment promotion and other economic areas.

To strengthen promotion of tourism exchanges, both sides welcomed the establishment of an office in Taipei by the Hong Kong Tourism Board.

Both sides also support enhancing exchanges, communication and collaboration on education, creative industries, as well as arts and culture.

To achieve the consensus reached at the joint meeting as soon as possible, the Hong Kong-Taiwan Economic & Cultural Co-operation & Promotion Council agreed both sides can adopt a pragmatic principle to explore opportunities on trade and economic co-operation, as well as avoidance of double taxation issues, and to strengthen co-operation on banking regulation, as well as actively study co-operation on other finance and regulation areas.

Air transport arrangements between Hong Kong and Taiwan should be updated as quickly as possible, and co-operation in shipping enhanced.

They should jointly develop and promote tourism products such as single journey with multi destination deals, and to encourage development of cruise tours between Hong Kong and Taiwan.

They will further enhance the management and co-operation on medical, health and food safety issues.