A study recommends a new statutory maritime body be set up in Hong Kong to consolidate the efforts of the government and the industry to bring maritime services development to a new phase, the city's Maritime Industry Council said Wednesday.

The report on the Consultancy Study on Enhancing Hong Kong's Position as an International Maritime Center (IMC), commissioned by the Maritime Industry Council, was released Wednesday.

It recognizes that Hong Kong has the potential to bring together a diversity of high value-added maritime services, and further become the preferred base in Asia for international maritime business.

The consultancy study has explored ways to enhance Hong Kong's position as an international maritime center and proposed a strategic development blueprint for Hong Kong to reinforce and maintain its position as an IMC amid competition in the region.

As highlighted by the study, Hong Kong is well-positioned to serve as a springboard for maritime companies from Chinese mainland to "go global," as well as to provide services for overseas enterprises to extend into the mainland market, thereby becoming an important IMC for the mainland and the Asia Pacific region.

By enhancing the institutional set-up, efforts of the government and the industry will be brought together in the implementation of policy initiatives for propelling the long-term development of the maritime industry in Hong Kong.

"In order to drive the development of the maritime industry in a more holistic way, the government is following up on the recommendation and will study in detail the structure, functions, mode of operation and funding arrangements of the new statutory maritime body," a spokesman said. Endi