Australia’s free trade deal with Hong Kong commences

  • Joint media release
  • Senator the Hon Simon Birmingham, Minister for Trade, Tourism and Investment
  • The Hon Mark Coulton MP, Minister for Regional Services, Decentralisation and Local Government, Assistant Trade and Investment Minister
17 January 2020

More opportunities for Australian businesses and farmers will commence today with the Australia-Hong Kong Free Trade Agreement entering into force.

Minister for Trade Simon Birmingham said the Agreement launches a new chapter in the important trading relationship between Australia and Hong Kong.

"From today Australian farmers and businesses will have guaranteed duty free access for their exports to Hong Kong,” Minister Birmingham said.

“Service suppliers will also receive guaranteed market access and conditions for two-way investment will be better than ever, providing certainty and confidence for Australian investors.

“Hong Kong is our fifth largest source of investment, and a platform market to showcase our premium goods and services to the broader Asian market.

“Expanding trade opportunities for Australian exporters is a priority for our Government and key to giving Australia a competitive edge.

“Securing comprehensive agreements that deliver wide-ranging benefits is a key pillar to our economic plan and builds upon successes that have already delivered record levels of exports and a record trade surplus for Australia.

“Our Government’s record speaks for itself by delivering agreements that open new markets for Australian exporters, reinforce certainty for Australian businesses and create more jobs,” Minister Birmingham said.

Minister for Regional Services and Assistant Trade and Investment Minister, Mark Coulton said the new agreement would benefit a range of industries including financial and professional services, food and beverages, education and e-commerce.

“I will continue to work closely with our exporters, particularly in regional areas, to ensure they are aware of these opportunities and can maximise the commercial outcomes from these important market access gains,” said Minister Coulton.

This Agreement underpins Australia ’s support of the “One Country, Two Systems” framework in which Hong Kong operates.

Further information on the Australia-Hong Kong Free Trade Agreement can be found at: dfat.gov.au/a-hkfta

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