Green, sustainable trade supported

Secretary for Commerce & Economic Development Algernon Yau today said Hong Kong sees the need to ensure that trade could benefit all in a sustainable manner, and is committed to ensuring its policies are green and sustainable in the face of climate change and other challenges.

He made the statement at a discussion session titled “Fostering Sustainable & Inclusive Trade in the Region, and other issues” at the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting in Detroit, the US.

“To accelerate our development to becoming an international green technology and finance centre, Hong Kong will set up the Green Technology & Finance Development Committee to formulate an action agenda for future endeavours.”

In terms of inclusive development, Mr Yau pointed out that Hong Kong is stepping up support measures for small and medium-sized enterprises (SMEs) to help them grow, innovate and embrace future opportunities, including funding programmes to help their brand building, operation upgrading and export marketing as well as adoption of innovation and technology. Additionally, Hong Kong is strengthening support for the development of women and youth.

On ways to achieve a resilient transition to a more sustainable and inclusive regional economy, the commerce chief said: “The collective efforts in deepening economic integration, embodied by comprehensive regional undertakings such as the Regional Comprehensive Economic Partnership Agreement, hold great promise for overcoming divisions and bolstering connectivity.” He also called on member economies to keep up the momentum and accelerate discussion on the Free Trade Area of the Asia-Pacific.

On the margins of the meeting, Mr Yau met Peru Minister of Foreign Trade & Tourism Juan Carlos Matthews Salazar to discuss trade and economic issues.

Mr Yau will return to Hong Kong on Sunday morning.