Hong Kong and Turkey agrees to promote and protect investment

Meng Jianzhu (R), head of the Commission for Political and Legal Affairs of the Communist Party of China (CPC) Central Committee, meets with Umit Yalcin, deputy under-secretary of the Foreign Ministry of Turkey, in Beijing, capital of China, March. 16, 2015. (Xinhua/Zhang Duo) (wyl)

China’s Hong Kong Special Administrative Region (HKSAR) and Türkiye have signed the Investment Promotion and Protection Agreement (IPPA), the first IPPA signed by the current-term HKSAR government and the 23rd IPPA Hong Kong has signed, which brings Hong Kong’s IPPA coverage to 32 trading partners.

Algernon Yau, secretary for commerce and economic development of the HKSAR government, on Tuesday hosted a reception for some 150 representatives of consulates, and local and foreign chambers of commerce to update them on the HKSAR government’s work on investment promotion.

The signing of the IPPA between Hong Kong and Türkiye on Tuesday sends a very positive signal to the investment community that both sides are committed to enhancing protection and guarantees for foreign direct investment, he said.

The agreement will enhance the confidence of investors and expand investment flows between Hong Kong and Türkiye, Yau said.

Yau highlighted the commencement of IPPA negotiations with Bangladesh and the ongoing IPPA negotiations with Bahrain and Saudi Arabia.

Yau said Hong Kong is renowned as a robust free-market economy and welcomes foreign direct investment from all over the world.

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