Yau highlights benefits of RCEP accession for HK

Hong Kong's Secretary for Commerce and Economic Development, Algernon Yau, highlighted the potential benefits of the city's accession to the Regional Comprehensive Economic Partnership (RCEP) during a virtual meeting at the 37th Asia-Pacific Economic Cooperation (Apec) Ministerial Meeting. Yau expressed his enthusiasm for the establishment of the Accession Working Group for Hong Kong in September, believing that the city's entry could provide a much-needed boost to advancing the FTAAP agenda.

Yau emphasized that enhancing economic integration is a core objective of Apec, with the region aiming to continue advancing the FTAAP. He called on member economies to strengthen connectivity across various sectors, facilitating the smooth flow of goods, services, capital, and people. By narrowing development gaps and creating opportunities for all sectors, Yau argued that Hong Kong's accession would contribute to the overall growth and prosperity of the region.

Yau also stressed the importance of maintaining the multilateral trading system as the foundation of regional integration and international trade. He stressed the need for enhanced cooperation to address the rapid changes in the trade landscape, ensuring that all member economies can benefit from the evolving global environment.