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Chinese New Year Reception in Jakarta Indonesia


Following is the speech by the Director-General of the Hong Kong Economic and Trade Office, Mr Law Kin-wai at the Chinese New Year Reception in Jakarta, Indonesia today (February 19):

Dato Lim (Secretary-General to ASEAN, Mr Dato Lim Jock Hoi), Ambassador Xiao (Ambassador of the People’s Republic of China to Indonesia, Mr Xiao Qian), Ambassador Huang (Ambassador of the People’s Republic of China to ASEAN, Mr Huang Xilian), Peter (Regional Director of South East Asia and South Asia of Hong Kong Trade Development Council, Mr Peter Wong), Jeffrey (Deputy Chairman of Indonesia-Hong Kong Business Association, Mr Jeffrey Cheung), distinguished guests, ladies and gentlemen:

Selamat Malam! (Good evening) Selamat Tahun Baru Cina! (Happy Chinese New Year)

I am happy to see so many faces today. I must thank you for joining us on this occasion to celebrate Chinese New Year. Let me wish you all a very happy and prosperous year ahead!

Most of you know our office, the Hong Kong Economic and Trade Office, which strives to enhance the bilateral relations between Hong Kong and ASEAN, including Indonesia. I am excited to join the office two months ago.

Recent major developments
I hope you will share my feeling that Indonesia and Hong Kong are getting closer than ever. In terms of high level exchanges, President Jokowi and our Chief Executive, Mrs. Carrie Lam, met with each other twice in Jakarta and Hong Kong in May 2017 and in April 2018 respectively to strengthen our bilateral relations. Our Financial Secretary, Mr Paul Chan, participated in the IMF/World Bank Group annual meetings in Bali last October. Just a month ago, our Secretary for Labour and Welfare met with Indonesian Minister of Manpower in Jakarta to discuss cooperation on the well-being of Indonesian domestic helpers in Hong Kong.

We also abound with broad exchanges in other aspects. With the hard work of Hong Kong Trade Development Council, we have frequent business missions plying between the both places. Last August, more than 580 athletes from Hong Kong came to Indonesia to participate in the Asian Games and they brought home 46 medals. Quite an achievement, wasn’t it? Also, the number of Indonesian students studying in Hong Kong and Hong Kong students interning in Indonesia is also on the rise.

Look Ahead
We continue to see huge potential for Indonesia and Hong Kong to build closer relations, particularly on trade, investment and professional services.

The Belt and Road Initiative provides much impetus for further economic development. Hong Kong is now the 4th largest source of foreign investments into Indonesia. The footprints of Hong Kong companies can be seen in many sectors, including banking, insurance, property developments, advertising, ports and logistics, as well as professional training. Further down the road, I am confident that, Indonesia and China, including Hong Kong, would develop ever stronger ties in investment, economy, trade, culture, education and tourism.

Meanwhile, the Greater Bay Area Development also presents huge potential for businesses, both local and overseas. An Outline Development Plan was promulgated yesterday. We would deepen cooperation leverage on the complementary advantages of Guangdong, Hong Kong and Macau to develop an international first-class bay area for living, working and travelling. As one of the core cities and core engines for driving regional development, Hong Kong’s status as international financial, transportation and trade centres, international aviation hub, global offshore Renminbi business hub, international asset management and risk management centres would be consolidated and enhanced. We encourage our friends in Indonesia to explore the potentials in the Area.

Another exciting news is that the Free Trade Agreement and the related Investment Agreement between Hong Kong and ASEAN are now in the final stage of ratification by individual ASEAN Member States. We believe the Agreements will enter into force in the very near future. On this, we are delighted that the Indonesian Parliament has recently approved the Government’s plan to ratify the FTA through a Presidential Regulation soon.

The Agreements are comprehensive in scope, encompassing trade in goods, trade in services, investment, economic and technical co-operation and dispute settlement mechanisms. They will bring more legal certainty, better market access and fairer and more equitable treatment in trade and investment. There would be new business opportunities and greater trade and investment flows between Hong Kong and ASEAN, including of course Indonesia. We do encourage Indonesian businessmen to make the most out of the Agreements.

Conclusion
Once again, I thank you all for your support and look forward to working together to further strengthen the ties between Hong Kong and Indonesia, as well as ASEAN.

Please enjoy the evening. Thank you!

Ends/Tuesday, February 19, 2019

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