Addressing the function, Executive Vice-President of VCCI Doan Duy Khuong said: "The agreement will help both sides’ enterprises strengthen business exchange and increase investment in Vietnam and Hong Kong, and boost Vietnam-China economic and commercial relations to an even a higher level."

Jonathan Choi, Chairman of the HKVCC, said: "Apart from the ASEAN + China, Japan, and Korea Free Trade Area negotiations, Hong Kong in July this year began negotiations for our trade arrangement with ASEAN."

Bilateral and multilateral agreements combined with an in-depth integration of regional economics will bring the East Asian region into a competitive and vibrant economic region, said Choi, who is also Chairman of Sunwah Group.

Regarding bilateral trade with Hong Kong, Khuong said it had reached 4.96 billion USD, a growth of 22.68 percent over last year. Of that amount, exports from Vietnam were worth 4.11 billion USD, up 30.38 percent over 2013, and imports to Vietnam were 850.5 million USD, down 4.59 percent. 

The items traded include clothes, textiles, accessories, leather and shoes, metal and steel, computers, electronics and accessories, machinery and tools, parts, fishery, rice, wood and wooden products.

In the field of investment, by October 20, Hong Kong had 853 projects with a combined investment capital of 14.1 billion USD in Vietnam, he said.

The signing ceremony took place as part of the visit of Gregory So, the Secretary for Commerce and Economic Development of the Hong Kong Special Administrative Region.