Hong Kong pursuing free trade agreement with Australia

Hong Kong

HONG Kong is looking to strengthen its international economic ties with the government announcing on Thursday that the city would be pursuing a Free Trade Agreement (FTA) with Australia.

The announcement came a day after legislators were told that Hong Kong is in talks to secure 13 more comprehensive avoidance of double taxation agreements (CDTAs) to help in tax liabilities assessment for cross-border economic activities and to resolve double taxation issues.

The FTA with Australia is expected to eliminate or reduce tariffs, reduce non-tariff barriers, facilitate customs procedures, increase market access for trade in services, better promote and protect investments, and establish legal and institutional arrangements including a …