HK-ASEAN Pact To Take Effect

The commitments made under the Free Trade Agreement between Hong Kong and the three Association of Southeast Asian Nations (ASEAN) member states of Myanmar, Singapore and Thailand will come into effect on June 11.

Upon the agreement’s implementation, Singapore will commit to binding all its customs duties at zero, while Myanmar and Thailand will progressively reduce and eliminate their customs duties on goods originating from Hong Kong.

The tariff reduction commitments cover different kinds of Hong Kong commodities including jewellery, articles of apparel and clothing accessories, watches and clocks and toys.

To enjoy the preferential tariff treatment for exporting Hong Kong goods to these three places, Hong Kong traders need to comply with the relevant preferential rules of origin and requirements.

On trade in services, Hong Kong service providers will enjoy better business opportunities and legal certainty in market access for a comprehensive range of services sectors.

Hong Kong and ASEAN signed the agreement and an investment agreement at the end of 2017.

The agreement’s dates of entry into force for the remaining seven ASEAN member states will be announced as soon as they are confirmed.