Press Release
Government launches public consultation on FTA between HK and ASEAN
Monday, May 26, 2014
The Government is consulting members of the public on the Free Trade Agreement (FTA) between Hong Kong and the Association of Southeast Asian Nations (ASEAN). The FTA negotiation between the two sides will commence in July.
"The 10-Member State ASEAN is an important trading partner of Hong Kong. An FTA between Hong Kong and ASEAN will enable our goods, services and investments to access the ASEAN market under more favourable conditions, boost the economic growth of Hong Kong and create job opportunities," the Government spokesman said today (May 26).
The FTA will cover the following key elements:
- elimination or reduction of tariffs;
- rules of origin;
- liberalisation of trade in services;
- liberalisation, promotion and protection of investment; and
- intellectual property co-operation.
ASEAN is the second largest trading partner of Hong Kong in terms of goods and the fourth largest in terms of services. ASEAN is also the fifth largest destination of foreign direct investment (FDI) from Hong Kong and the sixth largest source of FDI into Hong Kong.
Interested parties are invited to provide their views on the market access and trade rules of the 10 Member States of ASEAN as well as the other elements of the FTA. The Government will make reference to these views during the negotiation with ASEAN. A consultation document has been uploaded to the Trade and Industry Department website (www.tid.gov.hk/english/aboutus/noticeboard/asean_agreement.html). Views and suggestions may be submitted to the Trade and Industry Department by mail (Europe Division, Trade and Industry Department, 19/F, Trade and Industry Department Tower, 700 Nathan Road, Kowloon), fax (2789 9761 or 2789 2491) or email ( fta@tid.gov.hk ) on or before July 7.
ASEAN comprises Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
Ends