Hong Kong proposes new strategic Zhu Jiang Economic Triangle

BANGKOK, April 28 (TNA) - Hong Kong has proposed the establishment of a new strategic economic triangle, the Zhu Jiang River Basin Economic Triangle, which would become a trade and investment connectivity mechanism between Hong Kong and Thailand and other member countries in the ASEAN Economic Community (AEC). Deputy Prime Minister Somkid Jatusripitak, who is leading a Thai business delegation for a roadshow in Hong Kong during April 26-29, told journalists on Friday that Chief Executive of the Hong Kong Special Administrative Region (SAR) C. Y. Leung raised the proposed idea during an earlier meeting between the Hong Kong and the Thai sides. The Thai deputy premier quoted the Hong Kong chief executive as saying that the proposed strategic development plan on the establishment of the Zhu Jiang River, or the Pearl River, Basin Economic Triangle, if materialized, would become one of China's largest economic zones, comprising nine provinces and two special administrative regions (SAR), including the Hong Kong SAR, and covering a total area of one-fifth of China's southern region. The Thai deputy prime minister acknowledged that Beijing has tried to materialize the new strategic development plan to become a connectivity mechanism with AEC. According to the Thai deputy premier, a free trade agreement (FTA) between Hong Kong and ASEAN would then be concluded under the strategic economic development plan on establishing the new Zhu Jiang River Basin Economic Triangle. If the strategic plan was realized, the Thai deputy premier pointed out, Thailand could become a major trade and investment hub of Hong Kong, bringing about mutual benefits to both the Hong Kong and the Thai economies in the future. (TNA)