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Hong Kong seeks rapid conclusion of ASEAN FTA
Zone(s): Hong Kong, Southeast Asia ¦ Sector(s): Tax
[17 June 2014, Tax-News.com] By Mary Swire, Tax-News.com, Hong Kong: After meetings with the five major chambers of commerce, Hong Kong’s Secretary for Commerce and Economic Development, Gregory So, has placed an emphasis on completing the proposed Hong Kong-Association of Southeast Asian Nations (ASEAN) free trade agreement (FTA) as soon as possible.
He commented that the special challenge in concluding an agreement will be one of timing. “We note that the negotiation process between ASEAN economies with a third-party FTA partner will usually take about two to three years to complete,” he said. “As you know, we in Hong Kong like to do things fast, so the challenge will be to expeditiously complete the negotiation and reap the benefit of the FTA for both the ASEAN economies and the Hong Kong economy.”