ASEAN-Hong Kong, China (HKC) trade value reached USD 132.5 billion in 2024, accounting for 3.5% of ASEAN’s total trade, placing HKC as the 6th largest trading partner for ASEAN. Meanwhile, FDI inflows from the HKC to ASEAN amounted to USD 14.3 billion in 2024, accounting for 6.3% of ASEAN’s total FDI in the same year.

During the AEM Retreat held in Vietnam on 7-10 March 2013, AEM decided to engage on a FTA with HKC. Considering the Basic Law of the Hong Kong Special Administrative Region (HKSAR) both ASEAN and HKC agreed to have a separate investment agreement which is negotiated in parallel with the main FTA agreement. The negotiations for the AHKFTA and AHKIA commenced in 2014 and was concluded on 9 September 2017. The ASEAN-HKC Free Trade Agreement (AHKFTA) and the ASEAN-HKC Investment Agreement (AHKIA) entered into force on 11 and 17 June 2019, respectively. They are comprehensive in scope, encompassing trade in goods, trade in services, investment, economic and technical co-operation, dispute settlement mechanism and other related areas. The Agreements are expected to bring legal certainty, better market access and fair and equitable treatment in trade and investment, thus creating new business opportunities and further enhancing trade and investment flows between ASEAN and HKC.

On 19 September 2024, Economic Ministers from ASEAN and Hong Kong, China signed the First Protocol to Amend the ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA) to incorporate the new Product Specific Rules of Origin to the AHKFTA to further facilitate seamless trade between ASEAN and HKC. All Parties have also concluded the negotiations for the First Protocol to Amend the ASEAN-Hong Kong, China Investment Agreement (AHKIA) and commenced the preparatory work to give effect to the Schedules of Reservations of Parties.