Smith and Hong Kong's Yue have "Meeting of Minds" on Trade

There was a meeting of minds in the Hong Kong Special Administrative Region (HKSAR) yesterday when International Trade Minister Lockwood Smith met with his HKSAR counterpart Denise Yue.

"Miss Yue and I reconfirmed both economies' commitment to free trade and further, ongoing liberalisation," Dr Smith said.

"The HKSAR and New Zealand are among the freest and most open economies in the world. We agreed to continue working together to promote the merits of abolishing tariffs and ensuring all goods and services, including financial services and agriculture, are covered by regional trade liberalisation developments through APEC. We agreed that officials will examine the scope for action to push the agenda forward." Dr Smith backed up the free trade message when speaking to the World Economic Forum's East Asia Summit.

"Free trade benefits people by improving the productivity of the economy, raising living standards and providing a wider choice of goods and services at the lowest possible price. Hong Kong and New Zealand demonstrate that conclusively. We will remain partners in the free trade arena." Dr Smith also spoke at a networking lunch to promote New Zealand as a destination for direct foreign investment and met with potential investors at a breakfast organised by the Young Presidents Organisation made up of many of Hong Kong's top businesspeople.