Hong Kong hoping for RCEP breakthrough this year

Hong Kong hoping for RCEP breakthrough this year
Algernon Yau hopes the admission procedures for Hong Kong to join RCEP will be completed in September. File photo: RTHK
Secretary for Commerce and Economic Development Algernon Yau on Sunday said he expects procedures for Hong Kong to join the Regional Comprehensive Economic Partnership (RCEP) to be completed this year.
On a TVB programme, Yau said various countries, including New Zealand and Japan, expressed support for Hong Kong joining RCEP when he met counterparts at a recent Apec trade ministers gathering in Korea.
"I hope that in September this year, RCEP will complete the accession procedures," he said.
"We hope that we can join the working group and implement the accession work as soon as possible. It will take time and the estimates might not be that accurate. But it is now underway, and it's quite positive."
The government submitted the accession request three years ago.
On a separate note, Yau said he believes increased US tariffs on various countries provide opportunities for Hong Kong and he expects an increase in trade with the SAR.
Yau said a recent Hong Kong delegation to Kuwait and Qatar secured even better results than expected, with scores of collaboration agreements signed, and Central Europe and Central Asia will become a future focus for cooperation.

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