Hong Kong is Vietnam’s fifth largest investor with growing bilateral trade in multiple sectors

The part relating to the Philippines under the Free Trade Agreement (FTA) and the Investment Agreement (IA) between China's Hong Kong Special Administrative Region (HKSAR) and the Association of Southeast Asian Nations (ASEAN) will take effect on May 12, the HKSAR government announced on Tuesday.

Vietnam expects the ASEAN-Hong Kong Free Trade Agreement (AHKFTA) to boost the country’s exports of farm produce, aquatic products and processed food.

The ASEAN-Hong Kong (China) Free Trade Agreement (AHKFTA) came into effect on June 11 for Singapore, Thailand, Vietnam, Laos, and Myanmar, creating a driving force for trade and investment between ASEAN nations and Hong Kong (China). The remaining ASEAN member states will complete the ratification process later this year.

President U Win Myint on Tuesday urged parliament to ratify the ASEAN-Hong Kong Investment Agreement and ASEAN-Hong Kong Free Trade Agreement, because it could help attract more investment from China’s autonomous regions.

Hong Kong, the Special Administrative Region (SAR) of the People’s Republic of China, attaches great importance to ASEAN including Brunei Darussalam.

The ASEAN – Hong Kong Free Trade Agreement (FTA) is now in its final stage and is hoped to take effect within 2019, according to Xinhua news agency. Xinhua quoted Law Kin-wai, director general of the Hong Kong Economic and Trade Office in Jakarta, Indonesia, as saying on February 12 that member states of the Association of Southeast Asian Nations (ASEAN) are proceeding with necessary domestic ratifications and procedures that would pave the way for the enforcement of the FTA.

Việt Nam and Hong Kong should promote investment, trade and service flows between the two sides to take advantage of a diversion of trade from China amid escalating tension between the US and China, a banking official said yesterday.

Besides the bilateral Free Trade Agreements (FTAs) that they have individually signed with other countries, each ASEAN member state is a signatory to the ASEAN Free Trade Area (AFTA) between themselves as well as the several FTAs that the regional trade bloc has signed with some of the major economies in the Asia-Pacific region.

The two-day Asian Logistics and Maritime Conference, which ended on Wednesday in Hong Kong, drew the participation 70 speakers from the logistics and maritime sectors and 2000 industry professionals from 30 countries.