PH Trade Secretary Highlights Benefits of ASEAN at HK Summit 2017
Philippine Secretary of Trade and Industry Ramon M. Lopez (3rd from left) poses with Hong Kong SAR Chief Executive Carrie Lam Cheng Yuet-ngor, commerce ministers and senior officials participating at the Hong Kong Summit 2017, one of the signature events held to celebrate the 20th anniversary of the territory’s Kong’s reunification with China on 11 July 2017 at the Hong Kong Convention and Exhibition Center, in Hong Kong’s Wan Chai district.
26 July 2017 HONG KONG – Philippine Secretary of Trade and Industry Ramon M. Lopez highlighted during his key note speech at the Hong Kong Summit 2017, the benefits of the regional integration of the Association of Southeast Asian Nations (ASEAN), saying that this has led to the formation of the ASEAN Economic Community (AEC).
According to Secretary Lopez, the AEC affords the ASEAN Member States a bigger role and a more prominent voice in engaging with larger economic powers.
“ASEAN shows how integration becomes plausible despite differences in background, culture, and stages of development,” he told an audience composed of leading local and regional business leaders, Hong Kong’s consular corps, policy experts, members of academia and media. “With all these, we believe there is unity in diversity,” he added.
Co-organized by the Chinese General Chamber of Commerce (CGCC) in Hong Kong and the China Council for the Promotion of International Trade (CCPIT), the Hong Kong Summit 2017 took the theme “Regional Co-operation between Hong Kong and East Asia: Innovating New Ideas, Embracing new Opportunities”.
The Summit explored how Hong Kong and East Asian countries can both gain by deepening and expanding regional cooperation, as well as by bringing new impetus and opportunities for economic and enterprise development in anticipation of a series of major intergovernmental regional initiatives.
Secretary Lopez said the Philippines, which chairs ASEAN this year, is looking at the conclusion of two major free trade deals at the end of the year in Manila: ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA); and the Regional Comprehensive Economic Partnership (RCEP)
Ministers of trade and commerce from Cambodia, Myanmar, and Thailand, as well as senior officials from Singapore, Indonesia, and Vietnam also participated in the Plenary Session.
Secretary Lopez said the ASEAN-Hong Kong FTA will be a significant trading agreement, benefiting both Hong Kong and the ASEAN Economic Community, especially in the light of China’s Belt and Road Initiative (BRI), which would likely involve ASEAN Member States in the widespread improvement of public infrastructure in the region.
Secretary Lopez also expressed optimism that the RCEP agreement will be concluded by end of 2017. He said RCEP will unlock a huge integrated market base of 3.2 billion people or half of the world’s population and one-third of the world’s economy, a crucial development in the wake of the US’ withdrawal from the Trans-Pacific Partnership (TPP) and the Brexit.
RCEP, once signed, is seen to pave the way toward a mega-trade deal among ASEAN and its six dialogue partners such as Australia, China, India, Japan, Korea, and New Zealand.
On the eve of the Hong Kong Summit, Secretary Lopez met with new Hong Kong SAR Commerce and Economic Development Secretary Edward Yau Tang-wah on the sidelines of a welcome dinner hosted by CGCC Chairman Dr. Jonathan Choi. Mr. Yau, who took office on 1 July as part of the Cabinet of HK Executive Secretary Lam, expressed his optimism on the signing of the ASEAN Hong Kong FTA before the year ends.
For more information, visit www.hongkongpcg.dfa.gov.ph or https://www.facebook.com/PCGHK/. END
Philippine Secretary of Trade and Industry Ramon M. Lopez (4th from left) and Philippine Consul General to Hong Kong SAR Bernardita L. Catalla pose with counterparts from ASEAN member-states participating at the Hong Kong Summit 2017, one of the signature events held to celebrate the 20th anniversary of the territory’s Kong’s reunification with China on 11 July 2017 at the Hong Kong Convention and Exhibition Center, in Hong Kong’s Wan Chai district.
Philippine Secretary of Trade and Industry Ramon M. Lopez meets with new Hong Kong SAR Commerce and Economic Development Secretary Edward Yau Tang-wah on the sidelines of a welcome dinner hosted by CGCC Chairman Dr. Jonathan Choi for the Hong Kong Summit on 11 July 2017.