Hong Kong, 21 October 2021 – The Philippine Trade and Investment Center Hong Kong (PTIC-Hong Kong) together with the Philippine Consulate General in Hong Kong (PCGHK), Invest Hong Kong (InvestHK) and Asia Society Center Hong Kong (ASHK) organized a webinar entitled: “Reimagining the Future Series: Trade and RCEP: Scaling Up ASEAN Trade Collaboration.”
The webinar shed light on the trade in Hong Kong and the Philippines. It also discussed the importance of the Regional Comprehensive Economic Partnership (RCEP) to Hong Kong and the Philippines.
During the introductory remarks, Consul General of the Philippines in Hong Kong, Atty. Raly L. Tejada emphasized the benefits that RCEP brings to its members. “The RCEP will provide a lot of benefits: market access, cheaper cost of capital goods, rare materials, intermedia goods and automatedly goods for consumers” said Consul General Tejada. Additionally, he also expressed the Philippine’s support to Hong Kong’s participation to RCEP. “As a member of RCEP, the Philippines eagerly forwards Hong Kong’s membership in RCEP in the near future” he added.
The webinar featured a panel discussion moderated by Ms. Angie Lau, Editor-in-Chief, CEO and Founder of Forkast. News. The panelists included Atty. Allan B. Gepty, Assistant Secretary for Industry Development and Trade Policy at the Department of the Trade and Industry, Philippines; and, Mr. Brian Lo, Director-General of Trade and Industry of the Hong Kong Special Administrative Region.
During the discussion, the two panelists that represented the Philippines and Hong Kong respectively shared their knowledge about the key benefits of the ASEAN-Hong Kong, China Free Trade Agreement and the ASEAN and Hong Kong, China Investment Agreement (Two Agreements); the importance of Hong Kong’s membership to RCEP; how Hong Kong can contribute to RCEP; The impact of RCEP to the Philippine’s and global economy; The new features in RCEP that are not present in the Two Agreements between ASEAN and Hong Kong among other things.
“During the pandemic, many countries developed an inward policy. With the signing of the RCEP in the midst of the pandemic, it gives a signal that here in the region, we are serious when it comes to a rules-based system ( . . . ) this can boost confidence to our industries and businesses,” said Atty. Gepty.
Alice S. Mong, Executive Director of ASHK and Mr. Stephen Phillips, Director General of Investment Promotion at InvestHK, respectively gave the opening and closing remarks.
For more information about the said webinar, please visit the website of ASHK at: https://asiasociety.org/hong-kong/events/trade-and-rcep-scaling-asean-trade-collaboration or send an email to hongkong@dti.gov.ph. ♦
Date of Release: 27 October 2021