Hong Kong and the European Free Trade Association countries (Union countries), namely Iceland, Liechtenstein, Norway and Switzerland, signed the "Hong Kong and European Free Trade Association National Free Trade Agreement" will come into effect.
A spokesman for the Hong Kong Special Administrative Region (HKSAR) announced today that the part of the Agreement relating to Hong Kong and Iceland, Liechtenstein and Switzerland will enter into force on 1 October. The part involving Hong Kong and Norway will enter into force on 1 November.
The above Agreement was signed on 21 June 2011 and is the first free trade agreement between Hong Kong and the European Economic System, covering services and trade in goods, investment and other trade-related matters such as the protection of intellectual property rights, etc. The
Under the Agreement, the Union State will remove import tariffs on all industrial goods, fish and certain aquatic products originating in Hong Kong.
In terms of trade in services, Hong Kong service providers and the services they provide will enjoy better business opportunities, legally guaranteed market access and non-discriminatory treatment in the broad service sectors of the Union countries. The agreements covered include Hong Kong's traditional industries such as telecommunications services, financial services, logistics services, audio-visual services and various professional and business services. It also includes education, environmental protection, Medical, innovation and technology, culture and creativity and testing and certification services.
In the area of ​​market access, the number of service sectors within the Union country market will not be in any form of foreign funds, service providers or services, the value of services, the number of employees, the legal entity or the association limit.
Some of the service sectors need to set the above limits for regulatory or other reasons, and the relevant restrictions will not exceed the level agreed by the Agreement. In similar circumstances, the service providers in Hong Kong and the services they provide will be treated no less than the peers of the Union or other economies.
At the same time, business travelers in Hong Kong, internal redeployed personnel, installation or maintenance personnel, contract service providers and independent professionals may be granted temporary access to the relevant Union countries on the basis of the commitments of individual affiliates.
In addition, the Agreement provides legal protection for non-service investors in national treatment to facilitate their temporary entry and stay in the Union countries and to provide them with financial and other safeguards.
At present, Hong Kong exports to the Union countries, including exports of jewelry, silver, platinum, etc., the import of national cargo, including watches and clocks. The trade between the two places includes transportation, commerce, finance and so on.