It is reported that Hong Kong will join RCEP as soon as next summer

<匯港通訊> Japan’s Kyodo News quoted relevant sources as saying Hong Kong will join the regional Comprehensive Economic Partnership Agreement (RCEP) reached by 15 countries including Japan, China and South Korea as early as next summer.

According to reports, the RCEP went into effect in January this year, and the Hong Kong government applied to join shortly thereafter. According to negotiating sources, apart from Hong Kong, no other country or region has been interested in applying for membership. And India, which withdrew from the franchise talks, has not asked about its return. Therefore, at this stage, Hong Kong is the only candidate for membership. According to the regulations, it will be added soon after next summer.

However, the report also said that the establishment of the RCEP secretariat is considered overdue and it is unclear whether the negotiations will proceed smoothly. New accessions require the consent of all member states. However, China’s attempt to use RCEP to expand the idea of ​​a huge “Belt and Road” economic belt and support Hong Kong’s participation could also cause opposition.

At present, Hong Kong has not signed a trade agreement with Japan. If it can successfully join the RCEP, it is expected to have the effect of lowering tariffs on alcohol products exported from Japan. (B. C)

#RCEP #HongKong