- Free-trade deals with Singapore, Thailand, Vietnam, Laos and Myanmar take effect on Tuesday, with the rest of the bloc to follow
- Government has vigorously funded local ventures to new markets
The intensifying US-China trade war has battered Hong Kong, prompting it to look to new markets and trade mechanisms such as those presented by the upcoming free-trade deal with Asean, the cityβs commerce minister has told the Post.
Edward Yau Tang-wah, secretary for commerce and economic development, said in an exclusive interview that the pact with the 10-member Association of Southeast Asian Nations would be a crucial alternative for Hong Kong companies that rely on traditional markets, such as the United States and European Union.
Yau also said the government had provided billions of dollars in funding to subsidise ventures by local small and medium-sized enterprises (SMEs) into new markets, including mainland China and countries with which Hong Kong has a free-trade agreement.
Source : https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3013713/hong-kong-seeks-new-markets-through-asean-free
