Hong Kong secures expanded equal treatment and investment guarantees across Asean

Hong Kong firms will benefit from expanded non-discriminatory treatment and investment guarantees in 10 Asean states after a protocol amending an investment agreement with the bloc was signed on Sunday.

The protocol was signed in Manila – where Asean economic ministers are meeting – ahead of dedicated trade consultations between Hong Kong and the bloc.

Undersecretary for Commerce and Economic Development Bernard Chan Pak-li signed the protocol for Hong Kong, alongside Philippine Trade Secretary Cristina Roque and Thailand’s Deputy Prime Minister and Minister of Commerce Suphajee Suthumpun.

The protocol enables local enterprises to enjoy treatment no less favourable than that accorded to domestic or foreign enterprises in the 10 Asean states.

It mainly incorporates the schedules of reservations into the investment agreement to give effect to articles, which state that a party shall accord other parties’ enterprises and their investments non-discriminatory treatment, except for reserved measures.