Australia Hk Free Trade Agreement

The new agreement will benefit a number of sectors, including financial and professional services, food and beverage, education and e-commerce, said Regional Services Minister and Deputy Minister of Trade and Investment Mark Coulton. The Free Trade Agreement (FTA) with Hong Kong entered into force on 17 January 2020, which provides greater security for trade and investment between Australia and Hong Kong. The trade agreement will allow Australia to strengthen its ties with an important trade and investment partner. It came into force on Friday, as announced by trade, tourism and investment minister Simon Birmingham. This free trade agreement turns the page on economic relations between Australia and Hong Kong. The trade deal provides Australian companies with greater security for business and investment activities in Hong Kong. It also reaffirms the value Australia places on the high degree of autonomy that Hong Kong enjoys through the "One Country, Two Systems" framework. "Lexology offers a single source of downtime for informed comments." "Hong Kong is our fifth largest source of investment and a marketplace of platforms to showcase our premium goods and services to the wider Asian market. In 2018-19, Hong Kong was Australia`s 10th largest destination for goods exports ($8 billion) and seventh largest services export market ($3 billion). The A-HKFTA will continue to ensure that Australian exporters have access to the Hong Kong market and will ensure that Hong Kong will not impose tariffs on Australian products in the future. Hong Kong, as a special administrative region of the People`s Republic of China, is an attractive export destination for Australia. It complements Australia`s free trade agreement with China, which does not cover Hong Kong. "Service providers will also benefit from guaranteed market access and mutual investment conditions will be better than ever, providing security and confidence for Australian investors," birmingham said.

For more information, including the text of A-HKFTA, visit the website of the Department of Foreign Affairs and Trade. Please visit the website of the Department of Foreign Affairs and Trade for full information about A-HKFTA...