Asean, HKC support AHKFTA implementation
Asean, HKC support AHKFTA implementation
Economic ministers from the ten Asean member states have expressed their appreciation to their Hong Kong China (HKC) dialogue partner for its commitment to cooperation with Asean.
This includes Hong Kong China's commitment to undertake an economic and technical cooperation programme to support the implementation of the Asean-HKC Free Trade Agreement (AHKFTA) upon its entry into force.
The ministers and the Secretary for Commerce and Economic Development of HKC met in Vientiane last week for the first Asean Economic Ministers-HKC Consultations, which was co-chaired by Lao Minister of Industry and Commerce, Ms Khemmani Pholsena and Secretary for Commerce and Economic Development of HKC Mr Gregory So Kam-Leung.
Secretary-General of Asean Mr Le Luong Minh also attended the event.
HKC commended the establishment of the Asean Economic Community (AEC) in 2015 as a major milestone in progressing the region's integration and bringing this to greater heights, and considered the prospective conclusion of the AHKFTA to be another major development in the same direction.
The m inisters welcomed the new AEC Blueprint 2025, which envisages an AEC by 2025 that is highly integrated and cohesive; competitive, innovative and dynamic; with enhan ced connectivity and sectoral cooperation; a more resilient, inclusive, and people-oriented, people-centred community; alongside integration with the global economiy, according to a joint media statement from the meeting.
The ministers were pleased to note the performance of Asean-HKC bilateral trade and investment in 2015. According to Asean statistics, total merchandise trade between Asean and HKC reached US$90 billion, and Foreign Direct Investment (FDI) flows from HKC amounted to US$3.4 billion.
The ministers noted that a free trade agreement between Asean and HKC would strengthen th e close economic ties between the two sides.
They also expressed their appreciation to their Hong Kong, China (HKC) dialogue partner for its commitment to undertake an economic and technical cooperation programme to support the implementation of the Asean-HKC Free Trade Agreement (AHKFTA) upon its entry into force.
The Ministers welcomed the steady progress of the negotiations and looked forward to the timely conclusion of a mutually beneficial Asean-HKC Free Trade Agreement by 2016.
With broader liberalisation and deeper integration, the AHKFTA will help generate more business opportunities and stimulate further economic growth in the region.
