The continuing implementation of the Chinese mainland/Hong Kong, Macao Closer Economic Partnership Arrangement (CEPA) is to achieve the goals of maintaining Hong Kong's and Macao's prosperity and stability while accelerating the mainland's development, Minister of Commerce Bo Xilai said in Hong Kong Thursday.

Bo made the remarks when addressing the Forum on Economic and Trade Cooperation and Development between the Chinese Mainland, Hong Kong and Macao held here Thursday morning.

Outlining the two goals of implementing CEPA and its supplementary agreement, Bo said such goals are essential and can be achieved because the economies of the Chinese mainland, Hong Kong and Macao are all developing healthily and they are mutually complementary.

Bo said the mainland's vast market and the increasing demands for goods just match the efficiency of international ports in Hong Kong and Macao, whose status in the international shipping arena is "irreplaceable" in this regard.

The minister said the Chinese mainland's urgent need to upgrade its service sector will also provide a lot of opportunities for Hong Kong and Macao, which have gained a wealth of experience and talents in sectors like finance, banking, insurance, logistics, commercial industry and tourism through their connection with the world.

As more and more Chinese mainland enterprises are going abroad, Bo said, Hong Kong and Macao can act as their bridge and medium.

Because of the same language they speak and the same cultural roots they share with the Chinese mainland, Bo said, Hong Kong and Macao will naturally become mainland tourists' preferred destination and the gateway to the world.

The minister believed the Chinese mainland, Hong Kong and Macao can realize a win-win-win situation with all these complementary characters in their economy. "And thus CEPA is exactly the boost motor to achieve this win-win-win situation."

Bo said the Ministry of Commerce will actively implement the arrangement and come up with new measures in the future to make it contribute to the prosperity and stability of Hong Kong and Macao and their mutual exchanges with the Chinese mainland.

According to the third supplementary agreement of CEPA, the Chinese mainland will further open its service and trade sectors to Hong Kong and Macao and strengthen its cooperation with both regions in trade and investment facilitation.

As for further cooperation in the service and trade fields to be in operation as of Jan. 1, 2007, the Chinese mainland will take more additional measures for further opening to Hong Kong and Macao in the fields of law, exhibition and convention, information technology, audio-visual, construction, distribution, tourism, transportation and self-employed stores.

Editor: Yan