Hong Kong and Taiwan will discuss air links through two intermediary councils that have recently been established by the two sides, a source said Thursday. David Lie, a vice chairman of the Hong Kong-Taiwan Economic and Cultural Cooperation and Promotion Council, said during an interview with Radio Television Hong Kong that the council will soon engage in talks with its Taiwanese counterpart -- the Taiwan-Hong Kong Economic and Cultural Cooperation and Promotion Council -- to work out an MOU on air transport exchanges between the two sides. The existing Hong Kong-Taiwan aviation pact expires at the end of June. Talks about air links between Hong Kong and Taiwan have previously been held by representatives of the airline business sectors from the two sides. The Taiwan airline carriers, however, were not completely satisfied with the pact, Lie said. 'This year's MOU on Hong Kong-Taiwan air exchanges is expected to be signed by the two newly established councils -- a new communication platform between the two sides,' Lie said. Lie also chairs the newly established Hong Kong-Taiwan Business Cooperation Committee, which is comprised of members of Hong Kong's commerce and industry sector. The Hong Kong-Taiwan Economic and Cultural Cooperation and Promotion Council was set up April 1 by the government of the Hong Kong Special Administrative Region as an intermediary body in the absence of official ties between Hong Kong and Taiwan. The Taiwan-Hong Kong Economic and Cultural Cooperation and Promotion Council is being established under the supervision of the Hong Kong and Macao Affairs Department under the Cabinet-level Mainland Affairs Council. The two councils will work to facilitate broader and deeper exchange between the two sides. Possible areas of cooperation include public health, financial regulation and supervision, avoidance of double taxation, tourism, culture, sports and document authentication, according to the Hong Kong government. It is hoped that the councils will help tackle matters of mutual concern, including simplicility in taxation regulations and financial cooperation, to create mutually beneficial business opportunities, Lie said. 'It is keenly hoped that Hong Kong-Taiwan business and trade exchanges will not be compromised as a result of closer cross-Taiwan Strait ties,' he added. 