Business

HK signs trade, investment pacts with Asean

MANILA: Hong Kong yesterday signed free trade and investment pacts withAsean, in what one of the Chinese territory's senior officials called a "loud and clear" vote against rising regional trade protectionism.

The pacts conclude nearly three years of talks and are expected to take effect on Jan 1 at the earliest. They aim to bring "deeper and bolder" integration of market access with the bloc, said Mr Edward Yau, Hong Kong's Commerce and Economic Development Secretary.

The deal came after leaders attending the Asia-Pacific Economic Cooperation summit in Vietnam agreed to tackle "unfair trade practices" and "market distorting subsidies". - REUTERS

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