Hong Kong will still benefit from FTA with ASEAN

Stands to receive more investments from ASEAN.

Chief Secretary Carrie Lam said following a four-day trip to Singapore that Hong Kong industrialists are already looking at investment opportunities in ASEAN given rising costs in mainland China.

She noted that manufacturing costs in some of the ASEAN states are lower than on the mainland. Lam said Hong Kong is looking for a win-win situation for all parties.

To facilitate free trade agreement (FTA) negotiations expected to start early 2014. Lam said Hong Kong is now doing its homework and its leaders will visit all the 10 ASEAN countries.

She admitted, however, that ASEAN might not benefit as much in concessions on the goods trade because Hong Kong already has very few tariffs.