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24 July


Hong Kong and Australia сancel trade rates

The agreement was in Sydney

Photo: ISD

/NOVOSTIVL/ Hong Kong and Australia on Tuesday signed deals to open up bilateral free trade and services, allowing the city prized access to the country’s rail and professional industries. This article appeared in the South China Morning Post.

Secretary for Commerce and Economic Development Edward Yau Tang-wah and Australian trade minister Simon Birmingham signed the free-trade agreement and an investment agreement in Sydney.

The accord covers a wide range of areas such as goods, trade in services, investment, intellectual property, government procurement and competition.

"It offers both economies the best to each other," Yau said in an interview. "It demonstrates the commitment to freer trade, tearing down trade barriers and enhancing mutual benefits in investments, trade and commerce."

Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor described the free trade agreement as "very substantive".