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Trade commitments between Brunei and Hong Kong to take effect

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The Star - 29 September 2020

Trade commitments between Brunei and Hong Kong to take effect

A spokesman for the Hong Kong Special Administrative Region (HKSAR) government said on Tuesday that the commitments relating to Hong Kong and Brunei, an Association of South-East Asian Nations (Asean) member state, under the trade and investment agreements between Hong Kong and ASEAN, will enter into force on Oct 20.

Tariff reduction commitments under the free trade agreement covers different kinds of Hong Kong commodities, including jewellery, apparel and clothing accessories, watches and clocks, and toys.

Hong Kong service providers will enjoy better business opportunities and legal certainty in market access for services sectors in Brunei, such as business, telecommunications, construction and related engineering, education, tourism and travel related services, and transport services that have traditional strengths or potential for development.

Upon the investment agreement’s implementation, Brunei will provide Hong Kong enterprises investing in its area with fair and equitable treatment of their investments, physical protection and security of their investments, as well as the assurance of the free transfer of their investments and returns.

So far, the commitments relating to Hong Kong and the eight Asean member states of Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, separately, have taken effect.


 Fuente: The Star