Hong Kong and the Association of Southeast Asian Nations announced Saturday the conclusion of negotiations on a Free Trade Agreement and a related Investment Agreement.

The announcement was made at the second ASEAN Economic Ministers-Hong Kong, China Consultations (AEM-HKC Consultations), co-chaired by the HK government’s Secretary for Commerce and Economic Development Edward Yau and Philippine Secretary of Trade and Industry Ramon Lopez, in Pasay City, the Philippines.

“ASEAN is a very important trading partner of Hong Kong. It was our second largest trading partner in merchandise trade in 2016 and the fourth largest in services trade in 2015,” said Yau.

“Our economy stands to benefit from the FTA and the Investment Agreement, which will bring us more and better access to the ASEAN markets, create new business opportunities and further enhance trade and investment flows.”

Hong Kong and ASEAN will sign the FTA and the Investment Agreement in November, according to Yau.

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