RCEP establishes accession working group for HK
The government has welcomed a decision by the Regional Comprehensive Economic Partnership (RCEP) to commence the accession process for Hong Kong. This came as RCEP on Monday approved the setting up of an Accession Working Group (AWG) for a number of applicant economies. Secretary for Commerce and Economic Development Algernon Yau described the decision as “a pivotal step forward in enlarging the…
Hong Kong's government has welcomed the Regional Comprehensive Economic Partnership (RCEP) decision to begin the accession process for the Special Administrative Region. The RCEP announced on Monday the establishment of an Accession Working Group (AWG) to handle applications from prospective economies. Secretary for Commerce and Economic Development Algernon Yau hailed the move as "a pivotal step forward in enlarging the membership of RCEP."
Yau stated that Hong Kong will work diligently within the AWG, participating in accession negotiations with other RCEP members, with the goal of expediting the completion of all necessary procedures. The Hong Kong official emphasized the city's readiness for early accession to the RCEP and its intention to utilize the SAR's strengths to bolster regional economic integration.
In addition to Hong Kong, Bangladesh, Chile, and Sri Lanka have also been admitted to the AWG. The RCEP currently consists of 15 member economies, encompassing the mainland Chinese territory, Japan, South Korea, Australia, New Zealand, and all 10 ASEAN nations.
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