Hong Kong Speech Tender

Following is the speech by the Secretary for Transport and Housing Mr Frank Chan Fan at the Hong Kong-London Maritime Day November 22Lord Mountevans Chairman of Maritime London Lord Jeffrey Mountevans members of Maritime London and the Hong Kong Maritime and Port Board distinguished guests ladies and gentlemenGood morning. First of all I would like to extend a very warm welcome to our friends from London. Welcome to Hong Kong and we are very glad that you are here with us for the Hong Kong Maritime Week. We have packed together over 50 events this week to promote maritime services and foster closer ties among the maritime community. Among the many activities during the Maritime Week the Hong Kong-London Maritime Day is one that I have always been looking forward to. London was among the first overseas destinations I visited since I took office as the Secretary for Transport and Housing in July last year. The signing of the MoU with Maritime London on that sunny afternoon during the London International Shipping Week 2017 was indeed the first-ever agreement I have signed on behalf of the Hong Kong Maritime and Port Board. The Hong Kong-London Maritime Day today is the first-ever event co-organised by the Hong Kong Maritime and Port Board and Maritime London after conclusion of the MoU. The Hong Kong-London Maritime Day today therefore is a very special day.The Hong Kong-London partnership is no coincidence. Hong Kong and London share so many things in common. In terms of trade Hong Kong and the UK are both among the worlds top 10 trading economies. Both Hong Kong and London are service-oriented with the service sector accounting for over 90 per cent of our respective GDPs. When it comes to maritime both cities have a long maritime tradition and a strong maritime cluster. London needless to say has over 300 years of experience in providing maritime services. The fact that it is home to the International Maritime Organization speaks for itself. Though with a shorter maritime tradition Hong Kong is home to a cluster of over 800 shipping-related companies that offer a broad range of maritime services from ship agency and management ship broking ship finance and marine insurance to maritime legal and arbitration services. Both cities share so many common strengths that make us leading international maritime centres. More importantly there is immense potential for Hong Kong and London to collaborate on the maritime front in leading the continual development of the industry across the globe. International shipping forms a core part of the global economy and we must always be prepared for changes in the macroeconomic environment. At this juncture the global trading environment is facing uncertainties. The US-China trade conflicts are clouding the global trade and shipping outlook and their impacts would surface gradually. The fluid dynamics surrounding the Brexit negotiations are another source of uncertainty. More