China News Service, Hong Kong, September 10. Title: Observation of the 11th “Belt and Road” Summit Forum: More than 60 cooperation agreements demonstrate three major effects
Author Liu Yueqing Zhang Yuqia
The 11th Belt and Road Summit Forum was held in Hong Kong from September 9 to 10. More than 60 cooperation agreements or memorandums of understanding were reached, which not only demonstrated the three major effectiveness of Hong Kong in consolidating and enhancing its competitive advantages, strengthening connections with the global South, and expanding diversified cooperation space, but also demonstrated that Hong Kong further leverages its advantages in internal and external connections to inject momentum into the high-quality development of the Belt and Road Initiative.
Consolidate and enhance competitive advantages
The Commerce and Economic Development Bureau of the Hong Kong Special Administrative Region Government (referred to as "Hong Kong Commercial and Economic Development Bureau") signed an investment promotion and protection agreement with the Ministry of Commerce, Industry, Textiles and Jute of Bangladesh at the forum. So far, the Hong Kong SAR has signed 25 investment agreements with 34 economies.
Hong Kong Secretary for Commerce and Economic Affairs Yau Ying-wah said that Hong Kong has been committed to expanding its investment agreement network, especially with countries co-building the “Belt and Road”, so as to drive economic development and achieve common prosperity for both parties.
Hong Kong International Airport exchanged a memorandum of understanding with a Turkish cargo airline and also signed a cooperation agreement on a development project at Navoi International Airport in Uzbekistan.
Hong Kong Airport Authority Chief Executive Officer Zhang Lijiahui said that as of March this year, Hong Kong International Airport has connected 78 airports in 41 countries participating in the "Belt and Road" initiative, consolidating Hong Kong's status as an international aviation hub.
Strengthening connections with the global South
During the forum, Invest Hong Kong and the Zimbabwe Investment Development Authority exchanged memoranda of cooperation on economic and investment cooperation to promote two-way investment.
Liu Kaixuan, Director of Invest Hong Kong, pointed out that under the joint construction of the “Belt and Road” initiative, Hong Kong is continuously deepening its connections with Africa and the global South. Hong Kong is an international financial center with world-class professional services and connectivity to the Chinese mainland market, making it an ideal springboard for African companies. Theresa Muchinguri, chief legal officer of the Zimbabwe Investment Development Authority, said that by signing the cooperation memorandum, the two places can share investment opportunities more directly, promote business docking, and provide support to companies interested in investing in Zimbabwe.
In a special speech at the forum, Uruguayan Vice President Jorge Gos said that the Belt and Road Initiative has achieved remarkable results in terms of facilities connectivity, unimpeded trade and financial integration. Uruguay is ready to translate its commitment to participate in the Belt and Road Initiative into concrete cooperation results with Hong Kong and other participating partners to promote economic and trade exchanges between Latin America and Asia.
Expand diverse cooperation space
During the forum, the Hong Kong Independent Commission Against Corruption ("ICAC") exchanged signed memorandums of cooperation with Morocco's National Bureau for Integrity, Prevention and Combating Corruption and Thailand's Public Sector Anti-Corruption Commission to strengthen anti-corruption cooperation. The Independent Commission Against Corruption of the Hong Kong Special Administrative Region, Wu Ying-ming, said that the Independent Commission Against Corruption will strengthen anti-corruption information sharing, organize training activities, and jointly build a Silk Road of Integrity.
In addition, the Financial Services and the Treasury Bureau of the Hong Kong SAR Government and the Central Bank of Uzbekistan exchanged a memorandum of understanding on strengthening cooperation in the gold markets between the two places, and explored how to combine Hong Kong's international financial platform, precious metals market infrastructure, and Uzbekistan's advantages as a major gold producer and reserve country.
ASEAN Secretary-General Gao Jinhong told the media during the forum that Hong Kong is playing a key role as a platform where officials and business leaders from various countries can have in-depth exchanges. He pointed out that future cooperation between ASEAN and Hong Kong should focus on green economy, circular economy, renewable energy and other industries, which will not only strengthen existing trade and investment, but also be in line with the global trend of pursuing sustainable development and high-quality development.
