FRIDAY, APRIL 29, 1988
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HK PURSUES OBJECTIVES IN TRADE NEGOTIATIONS
THE FUTURE OF HONG KONG'S COMMERCIAL RELATIONS TRADING PARTNERS WILL BE DETERMINED TO A LARGE EXTENT BY OF THE URUGUAY ROUND WHICH WILL LAST FOR FOUR YEARS FROM 1990, THE ACTING ASSISTANT DIRECTOR OF TRADE, MR TIMOTHY TODAY (FRIDAY).
WITH MAJOR
THE RESULTS 1986 UNTIL TONG, SAID
SPEAKING AT AN INTERNATIONAL BUSINESS SEMINAR, MR TONG SAID THE INITIAL PHASE OF PREPARATORY WORK OF THE NEW ROUND WAS COMPLETED BY THE END OF LAST YEAR.
"A NEW STAGE OF NEGOTIATIONS HAS JUST STARTED AND HONG KONG IS PARTICIPATING ACTIVELY IN THE PROCESS.
MR TONG SAID THAT HONG KONG EXPECTED THE CURRENT TALKS ΤΟ GENERATE A LIBERALISING INFLUENCE ON TEXTILES TRADE.
"THE URUGUAY ROUND HAS PROVIDED A UNIQUE OPPORTUNITY FOR PARTICIPANTS TO EXPLORE WAYS AND MEANS TO CONVERT THE CURRENT DISCRIMINATORY REGIME UNDER THE MULTI-FIBRE ARRANGEMENT (MFA) INTO A NEW ARRANGEMENT BASED ON STRENGTHENED GATT RULES AND DISCIPLINES,
"CURRENTLY WE ARE WORKING TOGETHER WITH SOME 20 TEXTILE EXPORTING COUNTRIES AND REGIONS IN PURSUIT OF OUR NEGOTIATING OBJECTIVES, HE SAID.
H
MR TONG ALSO SAID THAT THE GATT SYSTEM MUST BE STRENGTHENED AND THAT HONG KONG SUPPORTED EXTENSION OF THE FUNCTIONS OF THE GATT TO INCLUDE MONITORING AND REGULAR REVIEW OF GOVERNMENT TRADE POLICIES.
"WE MAINTAIN THAT THE MOST-FAVOURED-NATION PRINCIPLE OF THE GATT MUST BE OBSERVED, AND THAT THE DISPUTE SETTLEMENT PROCEDURES SHOULD BE MODIFIED TO ENSURE FAIRNESS AND EQUITY FOR ALL, HE SAID.
"
**WE DEMAND REMOVAL OF GATT-INCONSISTENT TRADE MEASURES AFFECTING US AND SUPPORT A MULTILATERAL APPROACH TO FURTHER REDUCE TARIFFS AND NON-TARIFF BARRIERS FOR GENERAL APPLICATION TO ALL SECTORS OF TRADE.
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MR TONG BELIEVED THE OBJECTIVES HE MENTIONED COULD BE REALISED ONLY THROUGH INTENSIVE AND LENGTHY NEGOTIATIONS.
"SUCCESS MAY BE ACHIEVED CO-OPERATION WITH OUR TRADING PARTNERS INTERESTS IN THE LONG TERM, HE ADDED.
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ONLY THROUGH
CONSTRUCTIVE BEARING IN MIND OUR COMMON
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