Hong Kong Customs signs Authorized Economic Operator Mutual Recognition Arrangement with Bahrain Customs Affairs

Hong kong customs and bahrain customs affairs partner for streamlined trade processing

The Commissioner of Customs and Excise, Ms Louise Ho, led a delegation of Hong Kong Customs to visit the Bahrain Customs Affairs (BCA) to discuss matters on Customs co-operation and sign the Authorized Economic Operator (AEO) Mutual Recognition Arrangement (MRA) with the President of the BCA, Mr Shaikh Ahmed bin Hamad Al Khalifa, in Al Hidd today (April 22) to strengthen mutual trade relationship and foster greater security in the global supply chain. The Honorary Consul of the Kingdom of Bahrain to the Hong Kong Special Administrative Region of the People's Republic of China, Mr Oscar Chow, and the Chairman of Asia, Africa and Middle East Committee of the Hong Kong General Chamber of Commerce (HKGCC), Mr Jonathan Lamport, were present to witness the signing ceremony.

During the trip, Ms Ho and the delegation also visited the Khalifa bin Salman Port and joined the delegation of the HKGCC and the Hong Kong Bahrain Business Association to visit the Bahrain International Investment Park with an aim to enhancing the trade and cultural ties between Hong Kong and Bahrain.

The signing of the MRA is a milestone of fostering the connection and collaboration between Hong Kong and Bahrain. The MRA will reinforce international cargo security while facilitating legitimate cross-boundary cargo movements of the two places and bringing significant benefits to AEOs in both sides, as well as enhancing their competitiveness in the international market.

The Hong Kong AEO Programme was launched in 2012. The signing of the MRA with Bahrain brings the number of MRAs ratified between Hong Kong Customs and other Customs administrations to15 in total. The other 14 Customs administrations which Hong Kong has signed MRAs with are the Mainland, India, Korea, Singapore, Thailand, Malaysia, Japan, Australia, New Zealand, Israel, Canada, Mexico, Indonesia and Macao, China. Under the MRA, AEOs from the signatory countries or regions can enjoy reciprocal trade facilitations including reduced inspection rate and prioritised clearance.

Hong Kong Customs is dedicated to extending the MRA networks, in particular with Belt and Road economies including the Association of Southeast Asian Nations and the Gulf Cooperation Council Member States in the Middle East region. The AEO MRA Action Plan with Saudi Arabia was signed last year,marking a significant step towards the conclusion of the MRA in the near future. Hong Kong Customs will continue to take active steps to reach MRAs with major trading partners so as to bring more trade facilitation benefits to AEOs.

Hong Kong Customs signs Authorized Economic Operator Mutual Recognition Arrangement with Bahrain Customs Affairs Source: HKSAR Government Press Releases

Hong Kong Customs signs Authorized Economic Operator Mutual Recognition Arrangement with Bahrain Customs Affairs Source: HKSAR Government Press Releases

Hong Kong Customs signs Authorized Economic Operator Mutual Recognition Arrangement with Bahrain Customs Affairs Source: HKSAR Government Press Releases

Hong Kong Customs signs Authorized Economic Operator Mutual Recognition Arrangement with Bahrain Customs Affairs Source: HKSAR Government Press Releases

Hong Kong Customs signs Authorized Economic Operator Mutual Recognition Arrangement with Bahrain Customs Affairs Source: HKSAR Government Press Releases

Hong Kong Customs signs Authorized Economic Operator Mutual Recognition Arrangement with Bahrain Customs Affairs Source: HKSAR Government Press Releases

Hong Kong Customs signs Authorized Economic Operator Mutual Recognition Arrangement with Bahrain Customs Affairs Source: HKSAR Government Press Releases

Exclusive coverage: fs immersed in the vibrant atmosphere of the asian development bank's annual meeting in georgia (including stunning photos and captivating video)

The Financial Secretary, Mr Paul Chan, continued his attendance yesterday (May 3, Tbilisi time) at the 57th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) in Tbilisi, Georgia.

In the morning, Mr Chan participated in the Constituency Meeting of the ADB Annual Meeting, where he discussed ADB's work direction and strategy with representatives from a number of member countries. Topics discussed included the future areas of focus, how to better utilise the bank's capital and lending capacity, strengthening knowledge transfer and human resources training, and more.

Assisting ADB developing member countries in effectively addressing climate change is one of the main themes of this year's Annual Meeting. Speaking at the Constituency Meeting, Mr Chan highlighted that Hong Kong possesses a vibrant and high-quality financial market, which can efficiently connect market funds with projects to assist member countries in need to combat climate change and engage in green and low-carbon transition. Hong Kong also actively promotes insurance-linked securities products, and has facilitated the issuance of a number of catastrophe bonds. They have not only helped transfer and spread of the relevant risks to the securities market, but also extended disaster protection to more people. Moreover, Hong Kong's flourishing green tech ecosystem can provide innovative and practical solutions for green development in different countries.

In the afternoon, Mr Chan met with Executive Director representing Hong Kong, China's constituency in the ADB Board of Directors, Ms Rachel Thompson, and Deputy Executive Director, Ms Lisa Wright. They discussed how Hong Kong could better assist ADB developing member countries in sustainable development. Mr Chan said that green tech, green finance, and digital transformation should also be the focal points and key areas of support for member countries by the ADB. Beyond offering financial and professional services, Hong Kong, China may also share its knowledge and experiences in the above areas with ADB members, such as collaborating on relevant activities and human resources training programmes.

Thereafter, Mr Chan met with the Minister of Finance of Georgia, Mr Lasha Khutsishvili. They exchanged views on strengthening bilateral economic and trade relations, investment cooperation, tourism and people-to-people exchanges, etc. Mr Chan said that Hong Kong is an international financial centre with high-quality and excellent professional services, and has well-established air and maritime networks. He is confident that Hong Kong can become an important platform for Georgian enterprises to expand their businesses in the region, and serve as a vital bridge that connects them with the vast market of Mainland China. Mr Chan also explained to Mr Khutsishvili on the latest economic situation in Hong Kong.

In the late afternoon, Mr Chan paid a courtesy visit to the Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to Georgia, Mr Zhou Qian. They exchanged views on the latest developments of Hong Kong and Georgia. In the evening, Mr Chan also attended a reception hosted by the ADB.

Mr Chan will continue to attend events of the ADB Annual Meeting today (May 4, Tbilisi time).

FS continues to attend Annual Meeting of Asian Development Bank in Georgia (with photos/video) Source: HKSAR Government Press Releases

FS continues to attend Annual Meeting of Asian Development Bank in Georgia (with photos/video) Source: HKSAR Government Press Releases

FS continues to attend Annual Meeting of Asian Development Bank in Georgia (with photos/video) Source: HKSAR Government Press Releases

FS continues to attend Annual Meeting of Asian Development Bank in Georgia (with photos/video) Source: HKSAR Government Press Releases

FS continues to attend Annual Meeting of Asian Development Bank in Georgia (with photos/video) Source: HKSAR Government Press Releases