HK-ASEAN Pact To Take Effect

The commitments relating to Hong Kong and five Association of Southeast Asian Nations (ASEAN) member states under the Investment Agreement between Hong Kong & ASEAN will enter into force on June 17.

Upon the agreement’s implementation, Laos, Myanmar, Singapore, Thailand and Vietnam will provide Hong Kong enterprises investing in their areas with fair and equitable treatment of their investments, physical protection and security of their investments, and the assurance on the free transfer of their investments and returns.

Meanwhile, commitments relating to two more ASEAN member states, namely Laos and Vietnam, under the Free Trade Agreement between Hong Kong & ASEAN will enter into force on June 11.

Tariff reduction commitments under the agreement cover various kinds of Hong Kong commodities including jewellery, articles of apparel and clothing accessories, watches and clocks and toys.

Hong Kong and ASEAN signed the Free Trade Agreement and the Investment Agreement at the end of 2017.

The dates of entry into force for the remaining five ASEAN member states of Brunei Darussalam, Cambodia, Indonesia, Malaysia and the Philippines, will be announced as soon as they are confirmed.