HK hopes to have free trade pact with ASEAN in place within 2016: HK chief executive

Hong Kong Chief Executive Leung Chun-ying said on Thursday that Hong Kong hopes to have a free trade pact with the Association of Southeast Asian Nations (ASEAN) economies in place within the year.

During a question-and-answer session on the 2016 Policy Address at the Legislative Council Thursday, Leung noted that ASEAN was Hong Kong's second-largest trading partner and that the government has been negotiating with member states on the trade deal.

He underscored ASEAN's importance to Hong Kong by highlighting the government's negotiations with Indonesia, the largest ASEAN member in terms of gross national product, population and land area, to set up an economic and trade office in the country.

Leung added that as an open economy Hong Kong must boost its competitiveness and expand global trade ties.

The chief executive delivered his annual policy address on Wednesday, when he said the year of 2016 is one with important opportunities for Hong Kong since it is the outset of the Chinese mainland's 13th Five-Year Plan and the implementation of the Belt and Road Initiative.