nevertheless there are challenges awaiting Hong kong. the SAR to a late starter, compared to, say, Singapore or Taiwan, when it comes to RTA-partnerships, which are progressively becoming a fundamental tool in international trade. Unlike others, Hong Kong only has four of these agreements- CEPA; the one with the four-member European Free Trade Association (EFTA),i.e, lceland, Liechtenstein,Norway and Switzerland; Chile; and New Zealand. One with the ASEAN bloc is only at its inception. Furthermore, given its free port status, Hong Kong has less to offer in terms of tariff cuts. However, given its privileged status with China, and its strengths in financial and legal services,odds are that the Hong Kong SAR will maintain its position as one of the world leading trading economies.