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"However, we want to co-operate with the US to enhance our common efforts against illegal transhipment and remain willing to discuss other ways of co-operation in place of joint verification and the other unilateral measures that the US has imposed on us," Miss Yue said.
"We will therefore repeat these points to the US and hope that they can understand our position and agree to further consultations on the basis of such understanding, so that the two sides can come to a mutually acceptable solution.
"We will also tell the US that in view of the increasing adverse impact on our trade as a result of the US measures, we are anxious to take the next steps to protect our trading interests as soon as possible."
Miss Yue pointed out that Hong Kong would also make clear to the US that while a bilateral settlement was preferred, it could not wait forever.
"Therefore, unless we have a positive response from the US within a reasonable period of time, we will have no option but to start formal WTO action without any further delay," she added.
End
Liberalised market for trade in services attainable
While disappointed at how little has been achieved through the four extended tracks of service negotiations conducted under the auspices of the World Trade Organisation (WTO), Hong Kong still believes that a fully liberalised international market for trade in services is attainable through a multilateral agreement, hopefully at the not too distant future.
The Deputy Director-General of Trade, Mr Tam Wing-pong, who represented Hong Kong at the WTO service negotiations, said this today (Thursday) when he addressed a luncheon meeting of the Rotary Club of Hong Kong Bayview.
Mr Tam said the lacklustre results of the four tracks of extended negotiations on movement of natural persons, financial services, basic telecommunication services, and maritime transport services had drawn much criticism from commentators world-wide.
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