Asean prepared for FTA with Hong Kong
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Asean members are prepared to study the pros and cons of the free trade agreement with Hong Kong, which officially submitted the intention last November.
Thailand's Trade Negotiations Department announced that Hong Kong's inclusion would be part of the Asean-China FTA.
Srirat Rastapana, director-general of the department as co-chairman of the Asean committee on Asean-Chian FTA, said that Asean economic ministers recently ordered the senior officials to study the inclusion pattern and obligations.
Though Hong Kong is part of China, it maintains the economic autonomy. Hong Kong is a regioanl financial centre and a trade and logistics hub. It was recently appointed the Offshore RMB Settlement Centre.
Half of Hong Kong's trade volume is generated in China. Bilateral trade with Asean stood at US$79 billion in 2011. Singapore, Malaysia and Thailand are Asean countries showing highest trade with Hong Kong.
Srirat said that by joining the FTA, Hong Kong primarily aims to expand services and investment in various industries like financial, logistics and transport.
