12 Nov '17, 12pm

ASEAN signs free trade, investment pacts with Hong Kong

MANILA: ASEAN ministers inked free trade and investment pacts with Hong Kong on Sunday (Nov 12) on the sidelines of the 31st ASEAN summit. The trade agreement - a much-anticipated culmination of nearly three years’ worth of negotiations - is aimed at eliminating or reducing tariffs, liberalising trade and services, and establishing rules to promote confidence in trade. The investment agreement will cover the protection, promotion and facilitation of investment. The agreements are expected to come into effect by January 2019 and "strengthen economic relations between ASEAN as an integrated market and Hong Kong as one of the world’s leading trade and investment powerhouses", and stimulate economic development in the region, ASEAN ministers said in a joint statement. The deals are expected to benefit Hong Kong - a separate jurisdiction from China - after the city was not incl...

Full article: http://www.channelnewsasia.com/news/asiapacific/asean-sig...

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