SCED attends 9th ASEAN Economic Ministers - Hong Kong, China Consultation (with photos)
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The AHKFTA and the AHKIA signed in 2017 have served as the key pillars of the flourishing ASEAN-Hong Kong partnership. Since the signing of the agreements, Hong Kong's trade in goods with ASEAN has increased by 38 per cent and the city's outward direct investment to ASEAN has risen by 42 per cent.
Speaking at the meeting, Mr Yau appealed to those ASEAN member states which have not yet completed their internal procedures to further expedite the processes for the implementation of the First Protocol to Amend the AHKFTA, so as to allow traders to better utilise the free trade agreement and in turn, further drive growth in the economic and trade relations among the parties.
In addition, he said he looks forward to the early signing of the First Protocol to Amend the AHKIA, with a view to further unlocking the potential of the agreement through greater predictability and certainty in market access for investors of the two sides.
This year also marks the new cycle of the Economic and Technical Cooperation (ECOTECH) Work Programme under the AHKFTA. The programme aims to build the capacities of the parties of the AHKFTA through technical assistance, knowledge transfer and information sharing activities. It received very positive responses with 43 project proposals submitted this year.
"Notably, several proposals focus on new priority areas of the ECOTECH Work Programme, such as competition and sustainable economic development, as well as topics that have been receiving increasing attention in Hong Kong and the ASEAN member states, such as promotion of Halal food. This demonstrates the region's evolving needs and the shared commitment to deepen economic and technical co-operation between us," Mr Yau said.
At the meeting, Mr Yau took the opportunity to reiterate Hong Kong's readiness for early accession to the Regional Comprehensive Economic Partnership (RCEP) and thank ASEAN for the continued support to Hong Kong's accession bid. He said he looks forward to having concrete progress in the establishment of an accession working group for Hong Kong soon, along with the adoption of the related terms of reference.
Turning to the future direction of ASEAN-Hong Kong economic co-operation, Mr Yau noted that the digital economy has become a key pillar of economic development. He shared with ASEAN member states Hong Kong's support for small and medium-sized enterprises (SMEs) to seize the opportunities brought about by e-commerce. Through the Dedicated Fund on Branding, Upgrading and Domestic Sales, one of the funding schemes for SMEs in Hong Kong, enterprises can flexibly make use of a maximum funding of HK$1 million (around US$128,000) within their cumulative funding ceiling of HK$7 million (around US$897,000) to implement e-commerce projects in ASEAN economies under the E-commerce Easy.
Mr Yau also stressed the importance of upholding the multilateral trading system (MTS) and Hong Kong's commitment to maintain the credibility and efficiency of the World Trade Organization (WTO).
"As a small, open and externally oriented economy, we deeply value the non-discriminatory, rules-based MTS, with the WTO at its core, as our best safeguard against protectionism and arbitrary measures. Particularly in these turbulent times, the MTS is fundamental in ensuring the smooth functioning of global supply chains," he added.
On the sidelines of the meeting, Mr Yau held bilateral meetings with Mr Tengku Zafrul Aziz, and the Minister of Commerce and Industry of Timor-Leste, Mr Filipus Nino Pereira, to exchange views on issues of mutual interest. He also met with the Secretary-General of ASEAN, Dr Kao Kim Hourn, to discuss various trade and economic issues, and brief him on Hong Kong's preparatory work in seeking early accession to the RCEP.
Ends/Friday, September 26, 2025
Issued at HKT 18:36
Issued at HKT 18:36
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