ASEAN-HK FTA being finalised

ASEAN-HK FTA being finalised

02/08/17

Melanie Ullrich, Business and Policy Programme Manager

“The importance that Hong Kong attaches to the ASEAN region and co-operation between Hong Kong and ASEAN can be reflected in my decision to make the ASEAN region the destination of my first official overseas visit in my capacity as the Chief Executive,” said Hong Kong Chief Executive Carrie Lam at the Hong Kong Summit back in July, before flying to Singapore earlier this week.

Currently in Bangkok, as her second destination on the ASEAN tour, she announced today that negotiations between Hong Kong and the Association of Southeast Asian Nations (ASEAN) on a bilateral free-trade agreement are being finalised. Mrs. Lam said she expects the deal to be signed by the end of the year. Hong Kong’s economic ties with ASEAN will be discussed at Asia House’s first signature conference in Hong Kong which will be held on 27 November.

ASEAN is Hong Kong’s second-largest trading partner, and the deal is expected to further strengthen bilateral trade and investment ties. Bilateral trade value between ASEAN and Hong Kong has grown by a cumulative 72 per cent over the past decade. The ASEAN-HK FTA is the largest FTA for Hong Kong after the Closer Economic Partnership Arrangement (CEPA) with China. Negotiations for the ASEAN-HK FTA started in 2014.