The Russia-led Eurasian Economic Union is interested in expanding east and sign a free trade agreement with Hong Kong, according to Russia’s Deputy Prime Minister Arkady Dvorkovich.
“We recently concluded the free trade zone agreement between the Eurasian Economic Union and Vietnam and are currently negotiating with Israel. We are ready to discuss this issue with Hong Kong,”
said Dvorkovich, speaking at the Asia Financial Forum in Hong Kong.
The EEU is a trade bloc established in 2015 on the basis of the Customs Union of Russia, Kazakhstan and Belarus. It currently has five members: Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, while Tajikistan is a prospective member.
Western sanctions have encouraged Russia to work more actively with Asian partners. In May last year, the EEU and Vietnam signed a free trade zone agreement. It became the first free trade zone between the trade bloc and a third party. According to the documents prepared for the signing ceremony, the free trade zone is going to save exporters from the EEU about $40-60 million in the first year of operation.
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Alibaba confirms $13bn listing in Hong Kong
Alibaba will offer 500 million shares at a maximum of HK$188 apiece, the company said. The number eight is considered auspicious in China.
Chinese technology giant Alibaba on Friday confirmed plans to list in Hong Kong in what it called a $13 billion vote of confidence in the turbulent city’s markets and a step forward in its plans to go global.(more…)
Dodging import tariffs imposed by the US : Look before you leap
Manufacturers planning a factory move should tally the operating costs and consider whether it is economically viable.
One option when faced with high import tariffs imposed by the United States is to return high-value manufacturing to Hong Kong, delegates at the Hong Kong Trade Development Council’s research seminar “Sino-US Trade Dispute − Relocation and Domestic Sales” heard.(more…)
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