Speeches

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 11):

Ambassador Deng (Chinese Ambassador to ASEAN鄧錫軍大使), Minister Counsellor Chen (Deputy Chief of Mission and Minister Counsellor 陳昀公參), Peter (Regional Director of HKTDC), James (Chairman of Indonesia Hong Kong Business Association), distinguished guests, ladies and gentlemen:

Selamat Malam! (Good evening)

I am glad to see you all here today as we usher in the Year of the Rat. Wish every one of you and your beloved ones good health and great success.

It has been challenging and somewhat difficult for Hong Kong for the second half of 2019 with the social dissonance and unrest. Notwithstanding, the fundamentals underpinning our economy and success as international business and financial centre remain strong. Our financial system functions smoothly, bolstered by a stable and freely convertible currency and ample liquidity in the banking and capital markets. Civil liberties including the freedom of press and freedom of expression remain intact, and our independent judiciary continues to rigorously uphold the rule of law.

Most recently, the outbreak of the novel coronavirus is presenting much challenge to many places and economies across the world. Hong Kong is no exception. To tackle this, the Hong Kong Government has taken a comprehensive and co-ordinated approach to contain the spread of the novel coronavirus and to protect the health of the community. Our emphases are responding promptly, staying alert to the situation and working in an open and transparent manner.

Specifically, we have significantly reduced the flow of people in and out of Hong Kong as well as minimized social contacts among members of the public. All persons arriving from the Mainland China and those who have been there within 14 days preceding arrival are now subject to mandatory quarantine. While the majority of our boundary control points are now closed, the Hong Kong International Airport remains in operation, with preventive measures stepped up. All departing and transit passengers are now required to undergo body temperature check and those with fever are denied boarding.

While all these recent twists and turns are in a sense daunting, Hong Kong is resilient and we remain confident that we will ride out the storm. Like what we did in the adversities that Hong Kong went through in the not too distant past. And of course, we could not have gone this far without the support and goodwill of our friends here in Indonesia and in ASEAN.

ASEAN is an area of opportunities and high growth potential. Being the second largest trading partner of Hong Kong as a whole, ASEAN’s merchandise trade volume with us was around USD 136 billion in 2018, an increase of 14.2% from the preceding year.

Indonesia and Hong Kong enjoy good longstanding economic relations. Trade in goods reached USD 5.1 billion in 2018, making Indonesia one of our key trading partners in the ASEAN bloc. Furthermore, contributing to nearly 40% of ASEAN’s GDP and 40% of ASEAN’s population, Indonesia plays a pivotal role on the ongoing economic and trade relationships between Hong Kong and ASEAN.

Our two places share a lot of commonalities and economic interests. Opportunities are also abound. With the ASEAN and Hong Kong Free Trade Agreement and Investment Agreement, there are new business opportunities and greater trade and investment flows between Hong Kong and ASEAN, including of course Indonesia. In addition, the Belt and Road Initiative and the Greater Bay Area Development are presenting huge potentials for both Indonesian and Hong Kong enterprises and professionals to expand our footprints and roles in the relevant areas.

With the advantages of “one country, two systems”, an excellent environment for doing business, and quality professional services, Hong Kong actively facilitates and participates in these initiatives to further strengthen our relationship with ASEAN countries, including Indonesia. We do encourage Indonesian businessmen to make the most out of the opportunities that Hong Kong offers.

Once again, I thank you all for your support and look forward to working together to further strengthen our bilateral ties.
Please enjoy the evening. Thank you!

Ends/Tuesday, February 11, 2020