HK-ASEAN Video Conference Held

Secretary for Commerce & Economic Development Edward Yau today chaired the 4th Association of Southeast Asian Nations Economic Ministers - Hong Kong, China Consultations via video conference.

He co-chaired the video conference with Vietnamese Minister of Industry & Trade Tran Tuan Anh.

Economic ministers from the 10 ASEAN member states and Mr Yau exchanged views on a response to the pandemic’s economic impact as well as possible areas for co-operation and collaboration.

They also took stock of the implementation of the ASEAN-HKC Free Trade Agreement and the ASEAN-HKC Investment Agreement.

Mr Yau called for greater regional co-operation and collaborations in mitigating the COVID-19 pandemic’s impact and supporting post-pandemic recovery efforts.

He also stressed the importance of keeping boundaries open and refraining from unjustified trade barriers or irrationality in trade policies.

Noting that parts of the agreements relating to eight out of 10 ASEAN member states have come into force, Mr Yau said he looked forward to the full implementation of both agreements early to take the co-operation to the next level.

The ministers recognised the critical role of the multilateral trading system (MTS) and the importance of free and open trade and investment in sustaining efforts for a post-COVID 19 environment.

Echoing their views, Mr Yau said intensified efforts are required in strengthening the rules-based MTS by exploring pragmatic solutions to restore a fully functioning dispute settlement system, expediting the process for World Trade Organization reform and driving substantive outcomes in WTO negotiations.