########Mr. Speaker, this morning I had the pleasure of attending a breakfast hosted by the Hong Kong Parliamentary Friendship Group. This event is another reminder of the importance of Canada's increasing economic ties with Asia. Canada's bilateral relations with Hong Kong reflect our long-standing and comprehensive political, commercial, and people-to-people relationship. In addition to deep-rooted historical ties, Canada and Hong Kong share common values, among them respect for the rule of law, human rights, and individual freedom.
It is important to note that Canada and Hong Kong share in a great friendship along with close business relations. Our continued dialogue will lead to the further enhancement of our bilateral trade agreement. Canadian enterprises continue to take advantage of the uniqueness of Hong Kong, with an understanding of the opportunities that are there to tap into as our gateway to China and the emerging markets beyond China. These fast-growing markets in mainland China and other parts of Asia offer tremendous opportunities to Canadian businesses.
With the implementation of the double-taxation avoidance agreement between Hong Kong and Canada, there will be increased incentives for greater trade and investment between the two countries. It is no wonder that the World Bank has recognized Hong Kong as the second-easiest place to do business. I know that we will continue to work together to advance our mutual interests. This is good news for Canada.