HONG KONG: In a bid to enhance economic and trade ties, Hong Kong’s Chief Executive, John Lee, announced plans to bolster connections with Thailand on Tuesday, following a recent meeting with the Thai Prime Minister, Srettha Thavisin.
The objective is to expand business opportunities in Southeast Asia and further position Hong Kong as a key player in the region’s economic landscape.
During a weekly press briefing, Chief Executive John Lee expressed the mutual desire for stronger ties between the two sides, emphasizing the already “good and close relations” they share. They underscored the importance of promoting more exchanges between their respective populations, seeking to deepen the connection.
Hong Kong, with ambitions to reinvigorate economic growth for its financial hub after grappling with the impact of COVID-19 restrictions, aims to serve as a conduit between mainland China and the international community. Chief Executive Lee affirmed Hong Kong’s dedication to fostering regional cooperation, particularly focusing on economic, trade, and investment activities with member countries of the Association of Southeast Asian Nations (ASEAN). Hong Kong has recognized ASEAN as its second-largest trading partner since 2010.
Thai Prime Minister Srettha Thavisin visited Hong Kong for a three-day trip, engaging with various officials and business leaders, including Bernard Chan and Allan Zeman. The interactions were pivotal in reinforcing the commitment to closer collaboration and economic ties between the two regions.
In a press statement, Chief Executive Lee expressed gratitude to Thailand for its steadfast support for Hong Kong’s early participation in the Regional Comprehensive Economic Partnership (RCEP). This landmark 15-nation trade agreement, which came into effect last year, significantly reduces tariffs on a wide array of products, streamlining trade procedures and offering mutual benefits to member nations.
With the RCEP covering approximately a third of global trade and business activity, member nations anticipate that this initiative will play a vital role in driving economic recoveries in the aftermath of the pandemic. Hong Kong’s proactive efforts to deepen collaboration and strengthen trade relations with Thailand and other ASEAN nations underscore its commitment to navigating a path towards robust economic growth and global integration.
