Hong Kong, 31 August

The European Chamber of Commerce in Hong Kong, thanks to EUBIP funding was delighted to host a breakfast seminar with EU Commissioner Algirdas Semeta, responsible for Customs, Taxation, Audit and Anti-fraud as of 2010.

The topic of the presentation of Mr. Semeta was the cooperation between the EU and Hong Kong Government in the topics of trade & customs cooperation and taxation, cornerstones of the strong bilateral relationship between both regions, as stated in the “Possibilities for Cooperation between the EU and Hong Kong, 2007-2013”.

During his visit to Hong Kong, Commissioner Semeta met with the local authorities, namely K.C. Chan, Secretary for Financial Services and The Treasury, and Customs Commissioner Richard Yuen who expressed a manifest interest in a sounder cooperation in such areas.

In the field of taxation, Mr. Semeta emphasized the improved dialogue, cooperation and convergence with the SAR on issues relating to good governance in tax matters. In line with its stated tax policy of promoting internationally recognized good governance principles, the EU aims at improving the degree of transparency and the exchange of information with Hong Kong. At the current stage, such exchange of tax information, already adopted by 25 out the 27 EU Member States, is deployed on a voluntary basis with Hong Kong, and the pilot trials of such system are now being tested and assessed. The final aim of the EU is to promote the application of measures equivalent to those applied within the EU on taxation of income from savings, and ultimately a fair, transparent and cooperative tax environment.

On the customs side, the EU intends to boost cooperation in customs controls so to tackle counterfeited goods and piracy, and also to facilitate customs procedures. Working under the legal frame of the 1999 Customs Cooperation Agreement between both areas, new tools of cooperation are currently being debated in order to overcome the practical difficulties encountered by the trade operators without slowing the flow of international commerce. Mr. Semeta implied new agreements might be implemented shortly, and opened the possibility of entitling “Authorized Economic Operators” with Hong Kong, based on a mutual recognition system.

Please click here for the “Possibilities for Cooperation 2007-2013″

Lunch Event with Mr. Romano Prodi, Former President of the European Commission, Former Prime Minister of Italy, and CEIBS Chair for Sino-European Dialogue:

Thoughts from the Former President of the European Commission on how the three Powers can establish a New World Order.

Event Details:

Date: 14 September, 2010
Venue: JW Marriott, Ballroom (3/F), Pacific Place, 88 Queensway, Admiralty
Time: 12 noon - 2 pm

Admission Fee: HKD $540 for non-European Chamber Members; HKD $420 for European Chamber Members (kindly contact your Chambers for registration and payment.

 

The China-US, China-Europe and US-Europe bilateral relationships have arguably been the three most important geopolitical and economic relationships in the world. Today, with enhanced and more global rapport, the three powers are finally engaging in a trilateral relationship, allowing them to potentially establish and manage a new world order - whether it be on the political, economic/trade or cultural front, especially in blending in a savoir-faire in the management of conflicts of interest. European Commission, will discuss some of the most pressing issues around these three leaders: Reasons for the trilateral relationship, what the trilateral relationship can and cannot achieve.

Mr. Romano Prodi, former President of the European Commission, will discuss some of the most pressing issues around these three leaders: Reasons for the trilateral relationship, what the trilateral relationship can and cannot achieve.

The European Chamber of Commerce in Hong Kong is delighted to have the opportunity to co-host this important and relevant event with the American Chamber of Commerce in Hong Kong, the Asia Society, and supporting organizations Chinese Europe International Business School and Brown University.

 

Please contact Ms. Kim Larsen for registration at kim.larsen@eurocham.com.hk or call +852 2511 5133.

16 August, Hong Kong

The European Chamber of Commerce in Hong Kong and the Official Monetary & Financial Institutions Forum (OMFIF) were delighted to co-host a conference with Patrick Honohan, Governor from the Central Bank of Ireland, and Julia Leung, Under-secretary of the Financial Services and Treasury of Hong Kong, as guests of honor.

Governor Honohan, member of the Governing Council from the European Central Bank (ECB) sent the audience a reassuring message about the prospects for the EU economy by stating that he sees “very little risk of a double-dip recession in Europe”. His view, largely shared by the EBC is that the EU will undertake a process of gradual recovery in the short term run. The austerity measures currently implemented by various EU Member States do not represent an obstacle to the growth within the Eurozone and to the creation of employment, but on the contrary, a real pre-condition to ensure a sustainable development with a controlled public deficit across the area. Additionally, he sustained that the EU is ready to use fiscal resources to take care of member countries with fiscal imbalances.

From a long term perspective, Governor Honohan predicts and approves an ECB with an increasingly leading position in the design and implementation of the monetary and financial policy within the Eurozone, and he foresees that the EU will remain a stable currency platform in spite of the speculation against the euro.
About the particulars of Ireland, which country’s budget deficit is expected to reach 20% of the GDP by the end of 2010, Governor Honohan claimed the austerity package and the steps towards the resolution of the internal banking crisis reflect the commitment from the Government, which has engaged to reduce the public deficit to 3% of the GDP by 2014.

On the topic of the monetary balance between East & West, Julia Leung focused her speech on the process of internationalization of the RMB and on the strategic role Hong Kong shall and will play as a financial centre. So far, most of the cross- border RMB trade settlements have been conducted in Hong Kong; however, Hong Kong must continue to develop a full range of RMB products that investors and companies can buy, in order to become the predominant offshore RMB financial centre. With sound financial infrastructures and regulatory measures, Hong Kong can offer high quality risk management for RMB business, gaining confidence from the mainland to conduct more trials in Hong Kong.

In the process of the internationalization of the RMB, the first requirement advocated by Julia Leung is the availability of ample liquidity of the currency in overseas markets; the second feature will be the gradual liberalization of the exchange rate system, which will likely take years to be fully deployed, according to the speaker.

Please click here for the Financial Times article
Please click here for Bloomberg Businessweek’s article
Please click here for Reuters’ article
Please click here for RTE News’ article
Plese click here for the Irish Times article

Date: 16 August 2010
Venue: BANKERS’ CLUB, 43 Gloucester Tower, The Landmark Centre, Hong Kong
Time: 15h30-17h30
Admission: HKD250 (drinks and finger food will be provided)

The European Chamber of Commerce in Hong Kong thanks to EUBIP is delighted to co-host a Conference with the Official and Financial Institution Forum (OMFIF) on the occasion of the visit to Hong Kong of the current Governor of the Central Bank of Ireland, Patrick Honohan, also member of the Governing Council of the European Central Bank (ECB).

Governor Honohan’s main task in his current assignment is the challenge of helping to resolve the 2008-2010 Irish bank crisis, hence restoring the health of the banking sector. The recently published 2009 Annual Report of the Bank of Ireland (16 July 2010) already disclosed the main measures the Institution will implement in the direction of the recovery, in order to safeguard the normalization of the banking sector, the consolidation of public finances and ultimately to restore the economy’s competitiveness position. However, with the recent downgrading of Ireland’s debt rating announced by Moody’s on 19 July, new questions are surrounding the so-called recovery of Ireland and the Eurozone. Additionally, Governor Honohan’s active involvement in the decision-making process of the European Central Bank will allow the audience to have the views from an insider about the real impact of the austerity plans adopted within the euro area, the imminent issue of Eurobonds by the ECB and its implications for the European financial system, and the real fiscal consolidation of the European economies.

Following his presentation, our distinguished guest Julia Leung, Under Secretary, Financial Services and Treasure Bureau of the Government will deliver a presentation on the internationalization of the Renminbi, its prospects and implications. On the 19th of June, China’s Central Bank, the People’s Bank of China (PBOC) publically announced its intention to increase the flexibility of the Renminbi and to proceed further with reform of its exchange rate regime. Although this reform is expected to be gradual, it was well received by the financial markets worldwide and high expectations have aroused from investors globally.

For registration please contact Kim Larsen at kim.larsen@eurocham.com.hk, or call +852-2511 5133

Please click here for the full CV of Governor Honohan

Date: Tuesday 31 August 2010
Time: 8h00-9h30
Venue: Dragon Room 3-5, Bankers’ Club, 43/F Gloucester Tower, The Landmark Centre, Hong Kong
Admission: by invitation only

The European Chamber of Commerce in Hong Kong, thanks to EUBIP funding is delighted to host a breakfast conference with our Distinguished Guest, Algirdas Šemeta. Mr. Šemeta was appointed EU Commissioner in 2009, and is currently responsible for Taxation and Custom Agreements, Anti-Fraud and Audit.

Trade and customs cooperation between the EU and HK remains the cornerstone for a strong bilateral relationship; The EU is Hong Kong’s third largest supplier after the mainland and Japan, and the third largest investor, where as Hong Kong is the EU’s sixteenth bilateral trading partner by volume. In terms of transport, Hong Kong is a key East Asian transportation hub for European Union traders, service providers and individuals. Hong Kong’s container port remains the largest in the world in terms of the number of containers throughput.

However, the Customs Cooperation Agreement signed in 1999 between Hong Kong and the EU has showed unavoidable limitations in its engagement to combat anti-fraud, piracy, and other forms of illegality. Consequently, a new framework of the Customs Cooperation Agreement is urged to strengthen action against copyright infringement; combating transnational smuggling by sharing information and intelligence.
Additionally, the global demand for new efficient technologies requests to move towards a more secure global shipping system by electronically scrutinizing containers, without slowing the flow of international commerce.

Mr. Šemeta will discuss and debate with the audience how the EU will face the current challenges in the field of Customs, Tax and Anti-Fraud and what are the actions the EU will implement in order to ensure an efficient and prosperous trade cooperation between both regions.

About the speaker: Mr. Šemeta initiated his political career in Lithuania in 1990, after graduating as an Economist. He was appointed Minister of Finance of the Republic of Lithuania in two different occasions.
Please click here for the full CV
For more information, please contact Shirley Lee at shirley.lee@eurocham.com.hk or call +852-2511 5133

19 and 20 July, Macao and Hong Kong

The EUBIP (European Union Business Information Programme) was delighted to host 2 conferences in Macao and Hong Kong with Maria Joao Rodrigues as the distinguished guest and speaker. Ms. Rodrigues, Special Advisor to the European Commission has been actively involved in the think-tank behind the Treaty of Lisbon and the post-Lisbon Strategy and has assumed a role of EU Policy-Maker in the last decade.

Following the turmoil triggered by “the first global financial crisis”, Ms. Rodrigues announced we are witnessing an intrinsic and necessary reform within the Eurozone. Such internal reform requests an ever stronger coordination between the EU Member States and foresees new political and institutional mechanisms.

The European Central Bank (ECB) for instance will assume a stronger role in its mandate to preserve the price stability in the euro area and to assure the financial stability & supervision.
Secondly, the fiscal responsibility of the EU Member States will acquire a new political dimension, with strict instructions of budget restraint (reduction of national public debt and deficit) that must align with the European Commission’s demand, and that are now secured by new real economic sanctions. According to Ms. Rodrigues, the austerity plan within the Eurozone is mandatory for a full economic recovery, but its implementation must guarantee the creation of new employment; “austerity measures must be conceived to foster a sustainable development, a greener economy and a stronger internal competitiveness”. About the debate on the age retirement, Ms. Rodrigues clearly advocated for the trend of raising the national pension age already announced in various Member States (Portugal, France, etc).

The speaker disclosed with the audience the current internal debate about the issue of Eurobonds by the ECB, an innovative financial instrument that would trigger a new source of finance and would revive the EU economy without burdening the national budgets.

Finally, about the relationship between the EU and China, Ms. Rodrigues stressed that China has been selected together with India as Strategic Partners of the EU for 2010, and the European Business Summit in October 2010 in Brussels will be fully dedicated to the Chinese superpower. The issues on the table will be the enormous trade imbalance, foreign direct investment and political issues.

As per future prospects for the EU economy, Ms. Rodrigues considers herself a believer in the global recovery and in the European integration. She is confident about the positive impact of the Eurozone reform and she sustains that the EU has such a high degree of internal interdependence that the process of integration and harmonization can only go in one direction.

Please click here for the article published in FOREXPROS
Please click here for the bio of Maria Joao Rodrigues
Please click here for the article published in the Macao Daily Times
Please click here for the article published by EXPRESSO (Portuguese language)
Please click here for the article published in Invertia (Spanish language)
Please click here for the EU-China Business Summit

The European Chamber of Commerce in Hong Kong thanks to EUBIP funding was honored to participate in the Third Biennial of the China-Europa Forum as a supporting organization. The Hong Kong Polytechnic University hosted the plenary session, on 12-14 July 2010 with the theme “CONVERSE TO CONVERGE: Forging a Common Vision for Chinese and European Societies”.

The spirit of the Forum is that of a continuous dialogue, constantly deepened and global, between the Chinese society and the European society, both seen in their diversity. A distinguished selection of speakers, both Chinese and European, ranging from political to institutional and academic background illustrated the concepts of harmony, unity and diversity in their speeches.

Amongst others, Michel Rocard, former Prime Minister of France (1988-1991) during Mitterrand’s Presidency enlightened the audience with a constructive critic on the economic model our societies are built on, and the urgent need to think and implement a new system for a sustainable and global development of our societies.

Pat Cox, former President of the European Parliament (2002-2004) and a fervent defender of the enlargement of the EU embraced diversity as an integrating part of unity and encouraged an ever growing dialogue and exchange between the European and the Chinese societies as key players in today’s world economy.

Amongst others, Wilhelm Brauner, Chairman of the European Chamber of Commerce in Hong Kong delivered greetings as a Prominent Guest.

The Forum fostered over 60 different workshops in different cities in China and HK with a focus on 9 specific topics such as sustainable development, science & technology, social development, new models of economy and CSR amongst others. The plenary session culminated with the public exposure of the conclusions reached by the different discussion groups. Four common challenges were identified as mandatory objectives for the development of our societies:

1- Rebuilding Value Systems

2- Rethinking the economic development models

3- Initiating a participatory and integrated governance model

4- Role of China and Europe in the era of globalization

For more information about the China-Europa Forum, please visit:

http://www.china-europa-forum.net/article3627.html

Click here for the programme rundown

The European Chamber of Commerce in Hong Kong, with EUBIP funding* is delighted to host a conference on the global economic recovery with a special focus on the imminent reform in the eurozone and the G20 Agenda.

Date: Tuesday 20th July 2010
Time: 8:30- 10:30
Venue: CLUB LUSITANO, 27/F, 16 Ice House Street, Central, Hong Kong
Charges: HKD$250 (Continental style breafast will be provided)

The speaker, Ms. Rodrigues, who has been actively involved in the “Lisbon Strategy” will provide the audience with valuable insights on these topics from an EU Policy Maker’s perspective.

Attached you will find the e-invitation. The breakfast will be served from 8:30am to 9:00am and the presentation will start at 9:00am.Kindly remind you to settle the payment of HKD$250 by 16th July to secure a seat.

For registration details, kindly contact Kim Larsen at kim.larsen@eurocham.com.hk or call +852 2511 5133.

Please find Ms. Rodrigues’ biography and CV in the official EU website: http://www.mariajoaorodrigues.eu/

The 2nd Annual IPR seminar “Managing your IPR as a Business Asset” was held on 25th June 2010. This initative was funded by the European Union Business Information Program (EUBIP) and the China IPR SME Helpdesk, sponsored by the European Union. This full day seminar has recorded over 80 participants and received positive feedback from the audience. Our experts delivered updated and practical information on IPR issues in China. Please find their presentations below:

Protecting Your IP in China
Mr. Elliot Papageorgiou, partner, Rouse & Co Shanghai
Mr. Joseph Simone, partner, Baker & McKenzie Hong Kong
Managing IPR as a Business Asset
Ms. Serena Tierney, consultant, Wragge & Co LLP
Mr. Willi Vett, partner, Beiten Burkhardt Shanghai
IP Management and Enforcement
Mr. Danny Friedmann, Chinese University Hong Kong / IP Dragon blogger
Mr. Henry Wheare, partner, Hogan Lovells Hong Kong
Leveling the playing field
Dr. Guan Wenwei, City University of Hong Kong
Ms. Zhang Yi, Rouse and Co. Shanghai

For further information about the China IPR SME Helpdesk, please visit www.china-iprhelpdesk.eu/index.php

The European Chamber of Commerce in Hong Kong Was delighted to host a seminar about the recent regulatory developments in the EU telecom sector with Mr. Christophe Forax, Counsellor ICT and Audiovisual South East Asia, EU Delegation to Singapore.
The Seminar held under the auspices of the EU HK Macau ICT Business Council, gathered around 20 attendees from the ICT industry.
Please find attached here with the presentation.