Qiu Yinghua, director of the Hong Kong Business and Economic Development Bureau, said that Hong Kong has sufficient conditions to join the regional comprehensive economic partnership agreement (RCEP) and can contribute unique value. He expects Hong Kong to join this year.
Comprehensive Sing Tao Daily and Radio Hong Kong reported that Qiu Yinghua revealed at the Finance Committee of the Hong Kong Legislative Council on Friday (April 19) that China is urging member states to complete the application for new members as soon as possible.Join this year.
Qiu Yinghua said that all RCEP members are important trading partners in Hong Kong, accounting for about 70 % of the total trade trade in Hong Kong and about 40 % of the total service trade.The advantages of trade and financial centers further optimize the regional supply chain and contribute unique value to RCEP.
He said that the Asianan country in RCEP supports Hong Kong to join, and other members include China, Australia, New Zealand, Japan, and South Korea.All member states complete the review as soon as possible.
Since June 2 last year, after RECP officially took effect on the Philippines, all 15 members of the 15 completed the effective procedures and implemented tariff reductions.Hong Kong launched a procedure application in March 2022 to join RCEP.
