XN000022-1989-04-19 — Page 13

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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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