4.
- 2
-
HONG KONG AND THE GATT
One of most important factors in securing continued confidence, prosperity and stability in Hong Kong is that satisfactory provision be made for continued participation
in free world trading arrangements, of which the most
important is the GATT. Joint Declaration set out principle that future Hong Kong Special Administrative Region should
be able to participate separately in GATT: British and
Chinese Governments agreed at third Joint Liaison Group meeting March in in Hong Kong on detailed procedure by
which this will be achieved. HMG accordingly made
declaration to the GATT secretariat on 23 April under
Article XXV1 (5) (c) of the GATT that Hong Kong possessed
full autonomy in the conduct of its external commercial
relations and other
and other matters provided
matters provided for in the GATT, and
should henceforth be deemed to be a contracting party to
the GATT in its Own right. Chinese Government made a
parallel declaration about the status of the Hong Kong SAR after 1 July 1997, and declarations were circulated
by the Secretariat to other
April.
Hong Kong has thus contracting party to the GATT.
contracting parties on 24
become the 91st separate
Very glad that this vital
the
step towards securing Hong Kong's economic and commercial future has been taken. Glad also that there was such close co-operation between HMG and the Chinese Government: declarations were preceded by the first ever co-ordinated diplomatic approach by British and Chinese Ambassadors in almost 40 countries to explain our intentions to key GATT member states. Good illustration of the positive practical
approach of both countries to
implementing
their Joint
Declaration dn Hong Kong.
5.
BASIC LAW
Drafting of the Basic Law is a matter for the Chinese Government. Welcomed decision to include Hong Kong people the Basic Law Drafting Committee (BLDC) and to establish Basic Law Consultative Committee (BLCC) in Hong Kong.
on
a