Ahkfta (Asean Hongkong Free Trade Agreement)

The ASEAN-Hong Kong Free Trade Agreement (AHKFTA) is a trade agreement that was signed in November 2017. It aims to eliminate tariffs and increase trade between Hong Kong and the ten member states of the Association of Southeast Asian Nations (ASEAN).

The ten member states of ASEAN include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Collectively, these countries have a population of over 600 million people and a combined GDP of over $2.8 trillion.

Hong Kong is a major financial center and a gateway to China, with a population of over 7 million people and a GDP of over $320 billion. The AHKFTA is expected to increase economic cooperation between Hong Kong and ASEAN member states by reducing trade barriers and promoting investment.

Under the AHKFTA, tariffs on goods traded between Hong Kong and ASEAN will be gradually reduced or eliminated. This will make it easier and cheaper for businesses to trade with each other, and is expected to boost trade between the two regions.

In addition, the AHKFTA includes provisions for protecting intellectual property rights, promoting e-commerce, and improving customs procedures. These measures are intended to facilitate trade and investment, and create a more favorable environment for businesses operating in the region.

The AHKFTA is also expected to have positive effects on employment and economic growth. By promoting trade and investment, the agreement is expected to create new jobs and generate economic growth in both Hong Kong and ASEAN member states.

Overall, the ASEAN-Hong Kong Free Trade Agreement is a significant development in the economic relationship between Hong Kong and ASEAN. With the agreement in place, businesses in both regions can look forward to increased trade and investment opportunities, as well as the benefits of a more favorable business environment.

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