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 senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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