Post by account_disabled on Jan 2, 2024 10:45:29 GMT 5.5
ASEAN discusses Hong Kong Agreed to establish a joint committee Used as a mechanism to drive the ASEAN-Hong Kong FTA. and the ASEAN-Hong Kong Investment Agreement and set up a subcommittee to create rules on the origin of specific products and negotiate on investments. The deadline is set for completion in 2020 and the remaining members are urged to complete ratification by the end of this year. From now on, only half has been ratified. Mr. Ronarong Poolpipat, Commercial Advisor As Chairman of ASEAN Revealing the results of the first meeting of the Joint Committee to Supervise Operations under the ASEAN-Hong Kong Free Trade Agreement (ASEAN-Hong Kong FTA-Joint Committee:AHKFTA-JC) in Hong Kong on 6-7 Aug.
In the past 2019, the meeting C Level Executive List officially established the Joint Committee (JC). and lay down guidelines for economic cooperation between each other. After the agreement came into effect in June 2019, the JC will be the mechanism for overseeing the implementation of the ASEAN-Hong Kong Free Trade Agreement (AHKFTA) and the ASEAN-Hong Kong Investment Agreement (AHKIA). ) The meeting also set a goal for the remaining members to complete the ratification process within 2019, from the current free trade agreement. It has been ratified by members: Hong Kong, Myanmar, Singapore, Thailand and Vietnam. As for the investment agreement, Its members have already ratified it: Hong Kong, Laos, Myanmar, Singapore and Thailand.
At the same time, the meeting established a subcommittee on rules of origin. To negotiate the preparation of product-specific rules of origin to be completed in 2020, from now on temporary rules will be used. To suit the nature of production and trade of ASEAN and Hong Kong enterprises. Including the establishment of an investment subcommittee. to complete negotiations within 2020 as well However, Hong Kong will provide ASEAN with support of 25 million Hong Kong dollars, or approximately 3.18 million USD, over a period of five years from 1 January 2020 onwards to carry out economic cooperation activities between them in five fields, including professional services; , customs procedures, trade facilitation/logistics, small and medium enterprises (SMEs) and electronic commerce which will be useful in exchanging knowledge and experience business networking as well as strengthening competitive capabilities For the ASEAN-Hong Kong FTA and the ASEAN-Hong Kong Investment Agreement It will bring benefits to both sides in terms of merchandise trade.
In the past 2019, the meeting C Level Executive List officially established the Joint Committee (JC). and lay down guidelines for economic cooperation between each other. After the agreement came into effect in June 2019, the JC will be the mechanism for overseeing the implementation of the ASEAN-Hong Kong Free Trade Agreement (AHKFTA) and the ASEAN-Hong Kong Investment Agreement (AHKIA). ) The meeting also set a goal for the remaining members to complete the ratification process within 2019, from the current free trade agreement. It has been ratified by members: Hong Kong, Myanmar, Singapore, Thailand and Vietnam. As for the investment agreement, Its members have already ratified it: Hong Kong, Laos, Myanmar, Singapore and Thailand.
At the same time, the meeting established a subcommittee on rules of origin. To negotiate the preparation of product-specific rules of origin to be completed in 2020, from now on temporary rules will be used. To suit the nature of production and trade of ASEAN and Hong Kong enterprises. Including the establishment of an investment subcommittee. to complete negotiations within 2020 as well However, Hong Kong will provide ASEAN with support of 25 million Hong Kong dollars, or approximately 3.18 million USD, over a period of five years from 1 January 2020 onwards to carry out economic cooperation activities between them in five fields, including professional services; , customs procedures, trade facilitation/logistics, small and medium enterprises (SMEs) and electronic commerce which will be useful in exchanging knowledge and experience business networking as well as strengthening competitive capabilities For the ASEAN-Hong Kong FTA and the ASEAN-Hong Kong Investment Agreement It will bring benefits to both sides in terms of merchandise trade.