Siem Reap, Cambodia. Indonesia will help Hong Kong’s effort to
join the Asean free trade agreement, believing that the move will help bolster
the economy in the block, Indonesian Trade Minister Gita Wirjawan said on Tuesday.
Cambodian Prime Minister Hun Sen
urged Asean economic ministers to conclude their reports on the impact of Hong
Kong’s accession into the Asean-China Free Trade Agreement during their
week-long meeting. The goal is for the Asean to make a decision by November.
“We welcome Hong Kong joining,
but it needs further study,” Gita said after a meeting on Tuesday.
He added that the final decision
will be based on input from the other countries.
Hong Kong — a special
administrative region of China — voiced its interest to join the ACFTA to the
Secretary-General of Asean last October, offering its specialization as a
financial and logistic centre to help the region’s trade, particularly with
mainland China. About 13 percent of trade between Asean and mainland China are
shipped through Hong Kong, according to the Asean secretariat.
The move could be challenged
because the agreement between the Asean and China does not provide for open
accession and would pose strong competition with Singapore.
Dion Bisara
Business & Investment Opportunities
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