HK-ASEAN pact to take effect

June 3, 2020

The commitments relating to Hong Kong and Indonesia, an Association of Southeast Asian Nations (ASEAN) member state, under the trade and investment agreements between Hong Kong and ASEAN will enter into force on July 4.


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


Hong Kong service providers will enjoy better business opportunities and legal certainty in market access for different services sectors in Indonesia, such as business and tourism and travel related services that have traditional strengths or potential for development.


Upon the Investment Agreement’s implementation, Indonesia will provide Hong Kong enterprises investing in its area 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.


So far, the commitments relating to the seven ASEAN member states of Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam have taken effect.


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

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