Hong Kong deepens bilateral trade ties with Australia

The free trade and investment deal are expected to be sealed by H1 2019.

Hong Kong has successfully concluded negotiations on free trade and investment agreement in a bid to prop up its growth prospects against an increasingly dismal backdrop caused by the ongoing tariff war.

The two agreements, which encompass trade in goods, services and investments, are expected to be signed in the first half of 2019 after internal procedures have been made.

The deal will also create business opportunities and enhance business flows between the two economies. 

“Our objectives are largely met with the successful conclusion of the negotiation of the very comprehensive free trade agreement and investment agreement today, thereby bringing our bilateral trade and investment relationship with Australia to a new height," secretary for Commerce & Economic Development Edward Yau said in a statement.

The free trade deals with Australia will bring the total number of such agreements Hong Kong has signed to 10, more than double the number signed prior to the current term.