Connect with us

ASEAN

ASEAN-Hong Kong, China Free Trade Agreement comes into force

Tanutam Thawan

Published

 on 

The ASEAN – Hong Kong, China Free Trade Agreement (AHKFTA – that acronym’s never going to fly!), came into force this week for Hong Kong and five ASEAN member states, namely, Laos, Myanmar, Singapore, Thailand and Vietnam.

Under the AHKFTA, Hong Kong and Singapore will grant tariff-free access and keep their customs duties at zero upon entry into force of the agreement. Brunei Darussalam, Malaysia, the Philippines and Thailand will eliminate customs duties on 85% of products traded with Hong Kong within the decade and reduce another 10% of tariff lines within 14 years.

Indonesia and Vietnam will eliminate customs duties for 75% of their products within ten years, and reduce another 10% of tariff lines within 14 years. Meanwhile, Cambodia, Laos and Myanmar will eliminate customs duties for 65% of their products within 15 years and reduce another 20% of tariff lines within 20 years.

Dato’ Lim Jock Hoi, the Secretary-General of ASEAN says the agreement is a significant outcome for ASEAN and trading neighbours.

“This is also reflective of ASEAN and Hong Kong’s support for a rules-based international trade system, and signals our commitment to strengthen trade and investment links among our nations.”

It is ASEAN’s sixth free trade agreement with external partners, after China, Korea, Japan, India, and Australia-New Zealand.

Thailand is the ASEAN Chair for 2019 and is hosting the 34th ASEAN Summit June 20-23 in Bangkok

SOURCE: ASEAN

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Follow Thaiger by email:

Coronavirus (Covid-19)7 mins ago

Saturday Covid-19 UPDATE: Select provincial totals

Transport25 mins ago

Woman dresses as astronaut to show moon-like road condition

Coronavirus (Covid-19)2 hours ago

CCSA announces vaccination goals for October; 50% inoculated

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Coronavirus (Covid-19)3 hours ago

Phuket Covid-19: 235 daily infections, 238 hospital beds available

Coronavirus (Covid-19)5 hours ago

Saturday Covid Update: 122 Deaths 14,109 new infections

Thailand21 hours ago

Oct 1 reopening NOT confirmed, Kpop star sparks frenzy for Thai meatballs |Thailand News Today

image
Join the conversation on the Thaiger Talk forums today!
Hua Hin22 hours ago

Final arguments Tuesday on dual pricing suit against Health Ministry

World23 hours ago

Texas lawyer dressed as Halloween’s Michael Myers to spread hurricane cheer

Thailand23 hours ago

The Last Dance feat. Mike | Thaiger Bites | September 17

Thailand24 hours ago

No “October reopening” plan has been approved – CCSA

Thailand24 hours ago

Public Health Ministry defends October 1 reopening

Coronavirus (Covid-19)24 hours ago

Friday Covid Update: 14,555 new cases; provincial totals

Crime1 day ago

Torture and forced disappearances bills pass House vote 368-0

Bangkok1 day ago

Bangkok Governor: NO reopening October 15 despite PM plans

Pattaya1 day ago

Thai-Russian 4 year old girl drowns in Pattaya home pool

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14 | Thaiger
Thailand4 days ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand7 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism7 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket7 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism7 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand7 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism7 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand8 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand8 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand8 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand8 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand8 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand8 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand8 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand8 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending