Objectives
CEPA is a free trade agreement pursuant to which qualifying products, companies and residents of Hong Kong enjoy preferential access to the mainland Chinese market. Many of the preferences surpass the concessions made by China upon its accession to the World Trade Organisation.
The CEPA document identifies the following objectives:
" To strengthen trade and investment cooperation between Mainland China and Hong Kong and promote joint development of the two sides, through the implementation of the following measures :
- progressively reduce or eliminate tariffs and non-tariff barriers on substantially all the trade in goods between the two sides;
- progressively achieve liberalization of trade in services through reduction or elimination of substantially all discriminatory measures;
- promote trade and investment facilitation. "
Read more about this topic: Mainland And Hong Kong Closer Economic Partnership Arrangement
Famous quotes containing the word objectives:
“Along the journey we commonly forget its goal. Almost every vocation is chosen and entered upon as a means to a purpose but is ultimately continued as a final purpose in itself. Forgetting our objectives is the most frequent stupidity in which we indulge ourselves.”
—Friedrich Nietzsche (1844–1900)