Cambodian Prime Minister Hun Sen, the chair of ASEAN in 2012, on Monday
advised the ASEAN economic ministers to submit the studies on the impacts of
Hong Kong's accession to the ASEAN-China Free Trade Agreement ( ACFTA) to ASEAN
leaders in November for their decision.
"For the benefits of
increasing market access to Hong Kong which is one of the 10 largest trading
partners of ASEAN, and based on positive studies made on the impacts of Hong
Kong's accession to the ACFTA, I'd like to request the ASEAN economic ministers
to make recommendations on legal implication, impacts, and challenges
pertaining to the Hong Kong's accession to ASEAN leaders at the 21st ASEAN
Summit to be held in November for decision making," he said in his opening
address at the 44th ASEAN Economic Ministers Meeting and related meetings.
Hong Kong expressed its interest
to join the ACFTA to the Secretary-General of ASEAN in October 2011.
Hong Kong's accession to the
ACFTA could result in a number of benefits for both Hong Kong and ASEAN member
states. Given its strategic position as a business and financial center in the
region, Hong Kong could enhance its role as trade facilitator between Chinese mainland
and ASEAN countries by joining the ACFTA. In particular, Hong Kong's accession
would allow for the further development of the trade between Hong Kong and
ASEAN.
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