15
September
2019

THE THIRD AEM-HONG KONG, CHINA CONSULTATIONS

15
September
2019

THE THIRD AEM-HONG KONG, CHINA CONSULTATIONS

108

THE THIRD AEM-HONG KONG, CHINA CONSULTATIONS
9 September 2019, Bangkok, Thailand

 

JOINT MEDIA STATEMENT

 

1. Economic Ministers from the ten ASEAN Member States and the Secretary for Commerce and Economic Development of Hong Kong, China (HKC) (“the Ministers”) met on 9 September 2019 in Bangkok, Thailand, for the Third ASEAN Economic Ministers-HKC Consultations (AEM-HKC Consultations). The Consultations were co-chaired by H.E. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce, Thailand, and Mr Edward Yau Tang-wah, Secretary for Commerce and Economic Development, Hong Kong, China.

2. The Ministers noted the encouraging increase in trade and investment between ASEAN and HKC, as reflected in preliminary ASEAN data that the total bilateral merchandise trade reached USD 117.1 billion in 2018 or 4.2 per cent of ASEAN’s total trade. This was a 9.5 per cent increase from the previous year. In 2018, HKC was the 6th largest trading partner for ASEAN. Meanwhile, total foreign direct investment (FDI) flows from HKC to ASEAN also increased by 83.0 per cent, amounting to USD 10.2 billion or 6.6 per cent of ASEAN’s total FDI in the same year.

3. The Ministers welcomed the entry into force of ASEAN-HKC Free Trade Agreement (AHKFTA) and the ASEAN-HKC Investment Agreement (AHKIA) on 11 and 17 June 2019, respectively, and looked forward to the full ratification of both agreements by end of 2019. The Ministers noted that the inaugural meeting of the ASEAN-HKC Free Trade Area Joint Committee was convened on 6-7 August 2019 to discuss the implementation of the AHKFTA and the AHKIA, and encouraged both sides to cooperate closely to ensure the smooth adoption of rules and obligations under both Agreements. The Ministers expressed appreciation for HKC’s contribution of HKD 25 million over five years for the ECOTECH Work Programme starting from 1 January 2020. The Ministers were also pleased to note an ECOTECH Support Unit would be set up to support the implementation and encouraged project proposals from ASEAN and HKC to further facilitate the implementation of the FTA.

 

LIST OF MINISTERS

1. H.E. Dato Dr. Amin Liew Abdullah, Minister at the Prime Minister’s Office and Minister of Finance and Economy II, Brunei Darussalam;
2. H.E. Pan Sorasak, Minister of Commerce, Cambodia;
3. Mr. Edward Yau Tang-wah, Secretary for Commerce and Economic Development, Hong Kong, China;
4. H.E. Enggartiasto Lukita, Minister of Trade, Indonesia;
5. H.E. Mrs. Khemmani Pholsena, Minister of Industry and Commerce, Lao PDR;
6. H.E. Darell Leiking, Minister of International Trade and Industry, Malaysia;
7. H.E. Thaung Tun, Union Minister for Investment and Foreign Economic Relations, Myanmar;
8. H.E. Ceferino S. Rodolfo, Undersecretary, Department of Trade and Industry (representing H.E. Ramon M. Lopez, Secretary of Trade and Industry), Philippines;
9. Mr. Gabriel Lim, Permanent Secretary for Trade and Industry (representing H.E. Chan Chun Sing, Minister for Trade and Industry), Singapore;
10. H.E. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce of Thailand;
11. H.E. Tran Quoc Khanh, Deputy Minister of Industry and Trade (representing H.E. Tran Tuan Anh, Minister of Industry and Trade), Viet Nam; and
12. H.E. Dato Lim Jock Hoi, Secretary-General of ASEAN.

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THE THIRD AEM-HONG KONG, CHINA CONSULTATIONS