Hong Kong expresses interest in free-trade agreement with Maldives

The Hong Kong government has said that they would be starting towards a free-trade agreement with the Maldives.

A spokesperson to the government said today that Hong Kong wants to make free-trade agreements with Georgia in Europe close to South Asia as well.

The official document for the free-trade agreement was also released by the Hong Kong government today.

Main points on the document:

Reduced or null tariff:

The current tariff on the goods imported from Hong Kong is at 20.8 percent. Hong Kong said that the tariff on Maldivian goods entering Hong Kong would be removed and would be discussing to reduce or remove the tariff on Hong Kong goods.

Accessibility to the Market and Operations:

The Maldivian and Georgian markets being suppliers and service providers in Hong Kong would be discussed.

Ease in Investing and Working:

Creating a good environment to cross country investing would be discussed.

Ease of Customs Procedures to remove obstacles:

To remove obstacles to the trade connection and build businesses and easier procedure in processing goods in and out of customs would be discussed.

Hong Kong says that the USD 276 million worth of trade was conducted with the Maldives last year. And from 2011 onwards, the trade in the two countries has progressed by 38 percent.