Yau highlights benefits of RCEP accession for HK

Secretary for Commerce and Economic Development Algernon Yau said Hong Kong's entry into the Regional Comprehensive Economic Partnership could inject fresh impetus into advancing the Free Trade Area of the Asia-Pacific (FTAAP) agenda. "We welcome the establishment of the Accession Working Group for Hong Kong in September this year, and hope that our accession could inject fresh impetus into advancing the FTAAP agenda," he said during a virtual meeting at the 37th Asia-Pacific Economic Cooperation (Apec) Ministerial Meeting held on Tuesday. Yau said that enhancing economic integration has been the core objective of Apec, and that one of the directions is to continue to advance the FTAAP. He called on member economies to continue to strengthen connectivity in various areas, enabling the efficient flow of goods, services, capital and people, while narrowing development gaps and creating opportunities for all sectors across the region. Yau also stressed that the multilateral trading system must remain the foundation of regional integration and international trade, highlighting the importance of enhancing co-operation to deal with the seismic changes in the trade landscape. Edited by Edmond Fong