China’s Hong Kong to ink FTA with ASEAN by 2016

Asean

China’s Hong Kong Special Administrative Region is expected to sign a free trade agreement ( FTA) with the Association of Southeastern Asian Nations (ASEAN) by 2016, Chief Executive Leung Chun-ying said on Sunday.

Speaking on the sidelines of an ASEAN summit, Leung said Hong Kong could play the role of a “good connector” in trade and economic activities between the Chinese mainland and ASEAN members, and some trading was settled via the Hong Kong SAR.

“The Hong Kong-ASEAN FTA negotiation has been going on since last year,” Leung said. “We hope to wrap up the negotiations with all ASEAN nations by 2016.”

Leung said Hong Kong could act as an important intermediary to facilitate trade and economic activities between ASEAN and the Chinese mainland for mutual benefit.

“Quite a number of Hong Kong companies and manufacturers eye ASEAN countries like Myanmar, Cambodia and Laos, so I see the negotiations and the finalisation of the FTA would benefit all countries in ASEAN,” he said.

According to Leung, total trade between Malaysia and China, including the Hong Kong SAR, rose 16 percent last year, and 12 percent of the trade, now over $100 billion, was settled via Hong Kong.

Moving forward, he said cooperation between Malaysia and the Hong Kong SAR could be further strengthened in tourism and logistics industries.

Leung was scheduled to deliver a keynote speech and attend a dinner reception in Kuala Lumpur, while also meet officials from the ASEAN members, Malaysian business leaders, and Hong Kong people in Malaysia.

 

 

Source : China Daily | April 27, 2015

Thomas D’Innocenzi

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About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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