Macau and Hong Kong are working on a free-trade agreement, according to the Macau News and Xinhua Chinese news agency. The Hong Kong and Macau Closer Economic Partnership Arrangement, or HK-Macau CEPA, is designed to promote greater cooperation between the two cities, according to a statement from the Hong Kong government, and will allow them “to establish a new, common platform to advance further liberalization and facilitation of trade and investment in the ‘Greater China’ region.”
According to data from the Hong Kong government, Macau was the city’s 19th largest trading partner in terms of goods last year, and trading in goods between the two economies increased 22 percent each year between 2010 and 2013. Trading in services, meanwhile, grew 18 percent per year in the same time period.
