Australia to ink free trade deal with Hong Kong

Two-way trade between the pair is around $93.44b.

Reuters reports that the Australian government expects to close free trade agreements with Hong Kong and Indonesia before end-2018. 

Also read: Hong Kong inks free trade agreement with Georgia

“I think by the end of this year we’ll conclude successfully an FTA with Indonesia, an FTA with Hong Kong,” Australian trade minister Steven Ciobo said at a business lunch in Sydney.

A deal with Hong Kong, Australia’s 12th largest trading partner, has been under negotiation since last year as two-way trade between the pair is estimated at around $93.44b (A$16.3).

The Australian trade minister suggests that the growing protectionist sentiment has made it easier for some countries to ink trade pacts as a form of economic guarantee as he closes 12 Australian trade deals this year alone.

Here’s more from Reuters: