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Hong Kong Hopes To Conclude ASEAN FTA Soon

by Mary Swire, Tax-News.com, Hong Kong

05 May 2017

Hong Kong expects to conclude free trade agreement (FTA) negotiations with the Association of Southeast Asian Nations (ASEAN) by the end of the year.

Philip Yung, the Permanent Secretary for Commerce and Economic Development, said talks are in the final stages. "The two sides are working towards the objectives of concluding the FTA negotiation shortly and signing the agreement within this year," said Yung.

It was previously hoped that the negotiations between Hong Kong and ASEAN could be concluded in 2016. The 10 member countries of ASEAN are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

Once the FTA has been implemented with ASEAN, Hong Kong is expected to seek to join the Regional Comprehensive Economic Partnership (RCEP) currently being negotiated between ASEAN and its six FTA partners: Mainland China, Japan, South Korea, Australia, New Zealand, and India.

TAGS: tax | investment | free trade agreement (FTA) | Brunei | India | export duty | law | tariffs | Australia | China | Laos | Philippines | Singapore | Thailand | Cambodia | Hong Kong | Indonesia | Korea, South | Malaysia | New Zealand | import duty | trade | Japan | Vietnam | services

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