Hong Kong and Association of Southeast Asian Nations (ASEAN) signed the Free Trade Agreement and the Investment Agreement at the end of 2017. The Free Trade Agreement will enter into force on June 11, 2019 and the Investment Agreement - on June 17, 2019.
ASEAN comprises 10 member states, namely Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
Upon the Investment agreement’s implementation, Laos, Myanmar, Singapore, Thailand and Vietnam will provide Hong Kong enterprises investing in their areas 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.
Meanwhile, Hong Kong goods exports will be allowed in duty free to Singapore under a Free Trade Agreement between Hong Kong and ASEAN. Three ASEAN member states, Myanmar, Singapore and Thailand, are parties to the free trade deal. Myanmar and Thailand will progressively eliminate and reduce customs duties on goods originating from Hong Kong. Tariff reduction commitments under the agreement cover various kinds of Hong Kong commodities including jewellery, articles of apparel and clothing accessories, watches and clocks and toys.
