Hong Kong-ASEAN FTA to enter into force for Indonesia: HK govt

first_imgThe part relating to Indonesia under the Free Trade Agreement (FTA) and the Investment Agreement (IA) between China’s Hong Kong and the Association of Southeast Asian Nations (ASEAN) will enter into force on July 4, the Hong Kong Special Administrative Region (HKSAR) government announced on Wednesday.On trade in goods under the FTA, Indonesia will progressively reduce and eliminate customs duties on goods originating from Hong Kong, a HKSAR government spokesman said.The tariff commitments made by Indonesia cover different kinds of Hong Kong commodities, including jewellery, articles of apparel and clothing accessories, watches and clocks as well as toys. On trade in services, Hong Kong service providers will enjoy better business opportunities and legal certainty in market access for different services sectors in Indonesia under the FTA.These include services sectors in which Hong Kong has traditional strengths or has potential for development, including business services, construction and related engineering services, and tourism and travel related services, according to the spokesman.Under the IA, Indonesia will provide Hong Kong enterprises investing in its area with fair and equitable treatment of their investments, physical protection and security of their investments as well as the assurance of the free transfer of their investments and returns, said the spokesman.In case of expropriation or investment loss owing to war, armed conflict or similar event, Indonesia will also provide compensation to Hong Kong enterprises investing in its area according to the agreed standard as specified under the IA.With the entry into force for the part relating to Indonesia, there will be a total of eight ASEAN member states for which both the FTA and the IA have entered into force.The dates of entry into force for the remaining two ASEAN member states, Brunei Darussalam and Cambodia, will be announced as soon as they are confirmed, the spokesman said.Topics :last_img read more

Dolphin Swimming League Gets Lagos Backing

first_imgThe status of the maiden Dolphin Swimming League continues to grow as Lagos State Sports Commission (LSSC) has pledged its support for the inter-school tournament already certified by the Nigeria Aquatics Federation.In a letter signed by the Special Adviser to Lagos State Governor on Sports, Deji Tinubu, it becomes imperative for the state to collaborate with the organisers in fulfillment of the state’s vision of creating a sports culture.“The Lagos State Sports Commission is pleased to proclaim our partnership with the Dolphin Swimming League in conjunction with Sports Commission and Lagos State’s vision of creating a sports culture within Lagos State. The Dolphin Swimming League is an organisation passionate about creating a brighter future for all young people through sports with an emphasis on swimming. Their work supports the personal development of youths, preparing them for life’s challenges by developing a range of positive character traits such as aspiration, resilience cum empathy for success and establishing a better community. These are part of values dear to the Lagos State Sports Commission which makes the Dolphin Swimming League easy to partner with,” he said. The chairman of LSSC however said that it was based on this the commission decided to endorse the Dolphin Swimming League. The Dolphin Swimming League is organised by Dynaspro in partnership with Advanta Interactive Global Limited.According to the initiator and CEO of Dynaspro, Oluseyi Oyebode said the aim behind the tournament is to discover and develop young, talented swimmers to compete on the international stage for Nigeria while also developing youth swimming coaches across the country.Among the objectives of the tournament is to grow the sport as well as unearth talents and improve the technical know-how of the coaches.President of the Nigeria Aquatics Federation, Babatunde Fatayi-Williams, has commended the organisers for initiating the tournament while assuring of the federation support. “We are so excited that the organizers of this tournament muted this kind of idea to take the sport to grassroots level. All over the world, sports is a private public partnership and that is why we have not been able to utilize the potential of sports in this country. We are going to assure the organizers that we will keep tab of the talents that will emerge from this tournament.We are going to support them technically through the Lagos State Swimming Association and we are assuring them we will keep record of the talents so that we can consider them for major competitions,” Fatayi-Williams said.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more