RCEP Starts Hong Kong Accession Process With Working Group
HK01 · 6 SOURCESabout 23 hours ago5 MIN
Summary
RCEP on September 21 approved the establishment of an Accession Working Group, launching the accession process for applicant economies including Hong Kong, Bangladesh, Chile and Sri Lanka. The Hong Kong SAR Government welcomed the move, with Secretary for Commerce & Economic Development Algernon Yau Ying-wah (丘應樺) calling it a pivotal step in expanding RCEP membership. Yau said Hong Kong will actively participate in the working group and in accession negotiations with RCEP members, aiming to complete the required procedures as soon as possible. He also said Hong Kong has made full preparations for early accession and expects membership to reinforce its role as an international trade centre while contributing to regional economic integration.
Key Points
- RCEP is the world’s largest free trade agreement, with 15 member economies: mainland China, 10 ASEAN members, Australia, Japan, South Korea and New Zealand.
- Hong Kong applied to join after RCEP took effect on January 1, 2022, and the government says it was the first economy to submit an accession application.
- Yau thanked the Central People’s Government, including the Ministry of Commerce, for sustained support for Hong Kong’s early accession to RCEP.
- He also thanked RCEP members, including ASEAN, for backing the creation of the Accession Working Group to begin applicant economies’ procedures.
- Yau said he met multiple ministers at the APEC Trade Ministers Meeting in Suzhou in May and during an August visit to Kuala Lumpur to seek support.
Why It Matters
For Hong Kong, the process has moved from lobbying for support to a formal accession track involving a dedicated working group and negotiations with existing members. The government is presenting early entry as a way to deepen Hong Kong’s integration into regional trade arrangements and strengthen its standing as an international trade centre.