The specified products incorporated into the FTA through the protocol include various categories of products of interest to Hong Kong traders and manufacturers. These include textile products.
Hong Kong businesses will be allowed to more easily and effectively gain Hong Kong-originating status for more number of specified products, and thus enjoy preferential tariff treatment when expanding into the growing ASEAN market, a Chinese-state controlled news outlet reported.
ASEAN is Hong Kong's second-largest trading partner in merchandise trade with a total trade volume of around $165.5 billion in 2022, representing a growth of over 38 per cent since the signing of the FTA in 2017.
Fibre2Fashion News Desk (DS)