XN000022-1974-12-09 — Page 8

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MONDAY, DECEMBER 9, 1974

HONG KONG MAY JOIN ESCAP MEMBERS

IN BID TO REDUCE TARIFF BARRIERS IN WORLD TRADE

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HONG KONG HOPES TO JOIN A NEW INTERNATIONAL FORUM DESIGNED TO HELP THE DEVELOPING COUNTRIES PROTECT THE IR INTERESTS IN THE COMING ROUND OF NEGOTIATIONS IN GENEVA AIMED AT REDUCING TARIFF AND NON-TARIFF BARRIERS TO THE WORLD TRADE.

THIS WAS DISCLOSED BY MR. PETER TSAO, ASSISTANT DIRECTOR OF COMMERCE AND INDUSTRY ON HIS RETURN TO HONG KONG FROM A WEEK-LONG MEETING IN BANGKOK OF THE ECONOMIC AND SOCIAL COMMISSION FOR ASIA AND PACIFIC, ESCAP.

MR. TSAO SAID THE MEETING DISCUSSED AT LENGTH THE FORTHCOMING ROUND OF MULTILATERAL TRADE NEGOTIATIONS AND DECIDED THAT THE DEVELOPING MEMBERS OF ESCAP SHOULD FORM A GROUP TO PREPARE THEMSELVES FOR THE GENEVA TALKS WITH THE DEVELOPED COUNTRIES.

THE ESCAP GROUP PLANS TO MEET IN GENEVA BOTH BEFORE AND AFTER THE MEETING OF THE TRADE NEGOTIATION COMMITTEE OF THE GATT WHICH IS DUE TO TAKE PLACE VERY SOON. THE MULTILATERAL TRADE NEGOTIATIONS WILL BEGIN IN EARNEST WHEN THE US CONGRESS PASSES ITS TRADE REFORM BILL WHICH WILL AUTHORISE THE WHITE HOUSE TO ENTER INTO ANY AGREEMENT ARISING FROM THE NEGOTIATIONS.

THE US DELEGATE TO THE MEETING STATED IN THE FORMAL SESSIONS THAT MOST OF THE OBSTACLES WHICH HAVE DELAYED THE BILL'S PASSAGE THROUGH CONGRESS HAVE NOW BEEN OVERCOME AND IT IS EXPECTED TO BE PASSED BEFORE THE END OF THIS YEAR.