12
WEDNESDAY, APRIL 19, 1989
TRADE" HAD SURFACED, TRADE BARRIERS SELF-DEFEATING
HE SAID RECENTLY TERMS SUCH AS "MANAGED WHICH HE CONSIDERED WERE NO MORE THAN A EUPHEMISM FOR
BOUND TO BR OR PROTECTIONIST MEASURES THAT WERE THEY WOULD INVITE RETALIATION AND CAUSE TRADE CONTRACTION AN EROSION OF ECONOMIC GROWTH.
A9 LEADING TO
HE HOPED THE U.S. ADMINISTRATION AND CONGRESS WOULD TAKE A FIRM THE OF INTEREST PROTECTIONISM STAND AGAINST
IN THE
CONTINUED EXPANSION OF WORLD TRADE.
PROMOTING
TURNING TO
EUROPE,
MR
LO
SAID
GIVEN
THAT
THE EUROPEAN COMMUNITY WAS HONG KONG'S THIRD LARGEST TRADING PARTNER, HONG KONG HAD
EXCITED ABOUT THE GOOD REASON TO BE
POTENTIAL OPPORTUNITIES GROWTH IN THE EC'S PLAN FOR A SINGLE MARKET IN 1992.
FOR
OF BUT, MR LO SAID, HONG KONG WAS CONCERNED THAT IN THE COURSE
IN THE DEMANDS REMOVING INTERNAL BARRIERS, THE COMMUNITY WOULD GIVE FOR INCREASED PROTECTION AGAINST NON EC-IMPORTS, OR WENT FURTHER DOWN
DEALS ON A DISCRIMINATORY THE PATH OF BILATERAL OR REGIONAL WHICH WOULD BE DETRIMENTAL TO THE WORLD TRADING SYSTEM.
BASIS
THE CORNERSTONE OF AN ACTIVE ROLE IN LIBERALISE WORLD
MR LO SAID HONG KONG REGARDED THE GATT AS ITS TRADE POLICY AND THAT WAS WHY IT WAS PLAYING THE URUGUAY ROUND NEGOTIATIONS WHICH AIM TO FURTHER TRADE AND STRENGTHEN THE ROLE OF GATT.
CONTRACTING PARTY то
OF RESULT
THE AS A
WHICH PROVIDED, PARTICIPATION CONTINUED
IN
HONG KONG, HE SAID, HAD BEEN A SEPARATE
RIGHT
APRIL 1986 SINCE THE GATT IN ITS OWN IMPLEMENTATION OF THE SINO-BRITISH JOINT DECLARATION
OTHER
KONG'S INTERNATIONAL ORGANISATIONS AFTER 1997.
AMONG
THINGS,
FOR
HONG
BELIEVED MOST
THE IN THE
MR LO SAID HE WAS PERSONALLY OPTIMISTIC ABOUT HONG KONG IN
BUSINESSMEN AMERICAN 90'S AND BEYOND AND HE TERRITORY WERE TOO.
"THEY KNOW WHAT A GREAT PLACE HONG KONG IS TO DO AND CAN SEE THE ENORMOUS OPPORTUNITIES IT OFFERS FOR THE FUTURE
IN ITS OWN RIGHT; A MARKET
A LOCATION FOR
BUSINES9 NOW
-
AS
MANUFACTURING PACIFIC
COMPETITIVE PRODUCTS; AS A GATEWAY TO CHINA AND TO THE ASIA -
AS AN ACTIVE
REGION
AS
AND
INCREASINGLY,
"I
MR LO SAID.
AS A WHOLE; INTERNATIONAL TRADE AFFAIRS,
PLAYER IN
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