XN000022-1989-05-06 — Page 2

1

-

SATURDAY, MAY 6, 1989

INDISCRIMINATE ANTI-DUMPING MEASURES ENDANGER FULFILMENT OF GLOBAL ECONOMIC INTEGRATION

THE

USE INDISCRIMINATE

OF

то

ANTI-DUMPING LEGISLATION FRUSTRATE TRADE IS A TYPICAL EXAMPLE OF HOW PROTECTIONIST MEASURES

EFFICIENT ALLOCATION OF ARE THREATENING TO FRUSTRATE A MORE RESOURCES, THE SECRETARY FOR MONETARY AFFAIRS, MR DAVID NENDICK, TODAY (SATURDAY).

GLOBAL SAID

HE SAID SUCH LEGISLATION AND SIMILAR MEASURES BEING TAKEN IN A

THUS ENDANGER NUMBER OF COUNTRIES WOULD

THE FULFILMENT OF GLOBAL

ECONOMIC INTEGRATION.

OF GOVERNORS SPEAKING AT THE 22ND ANNUAL MEETING OF THE BOARD

BANK OF THE ASIAN DEVELOPMENT

(ADB) IN PEKING, MR NENDICK SAID NATIONAL ANTI-DUMPING LEGISLATION IN SOME COUNTRIES "HAS GONE FURTHER

AND TRADE THAN THE GENERAL AGREEMENT ON TARIFFS

(GATT) AND IN SO OF TRADE HARASSMENT DOING HAS EQUIPPED THE INEFFICIENT WITH A MEANS THROUGH LITIGATION".

SOMETIMES MUCH MORE REPRESENTED

HAD HONG KONG FOR INSTANCE, HE SAID, IMPORTS FROM

TOGETHER WITH BEEN UNFAIRLY LUMPED

OTHER IMPORTS FROM SIGNIFICANT SUPPLIERS AND ACCUSATIONS THEN MADE THAT THEY A THREAT, NOTWITHSTANDING THE FACT THAT HONG KONG'S THOSE PRODUCTS WAS SMALL OR EVEN DECLINING WHEN OTHER SUPPLIERS.

MARKET SHARE IN COMPARED WITH THOSE

A HOW

HONG KONG OF THE FREEST AND MOST HAVE NEITHER IMPORT TARIFFS NOR

"IN ECONOMIC TERMS, IT IS DIFFICULT TO SEE COMPANY COULD DUMP, GIVEN THAT WE HAVE ONE OPEN ECONOMIES IN THE

QUOTAS," HE SAID.

VOUCHING FULL

WORLD AND

FOR SUPPORT

A RECOMMENDATION BY THE ADB'S COMMITMENT TO EXTERNAL PANEL THAT THE BANK SHOULD MAKE A FUNDAMENTAL

AS IMPORTANT SUSTAINABLE DEVELOPMENT, MR NENDICK NEVERTHELESS SAW IT THAT THIS COMMITMENT WAS NOT SOLELY CONFINED TO THE PROTECTION OF ENVIRONMENT, AS SUGGESTED IN THE REPORT.

THE

"RATHER, IT SHOULD ALSO RELATE TO THE

MACRO-ECONOMIC POLICIES PARAMOUNT

OF THE DEVELOPING MEMBER COUNTRIES (DMC'S) AS THESE ARE OF IMPORTANCE IN DETERMINING WHETHER THEIR DEVELOPMENT IS SUSTAINABLE.

"IN MY

VIEW,

THE IMPORTANCE

OF

MARKET GIVING NECESSARY FREEDOM TO OPERATE CANNOT BE OVER-EMPHASISED.

CO-OPERATIVE MULTILATERAL

EFFORT,

FORCES

THE

IS ACT

DIALOGUES

"FURTHERMORE, MULTILATERAL POLICY DIALOGUE AMONG DMC'S EXTREMELY IMPORTANT AND, IN THIS RESPECT, THE BANK COULD PERHAPS AS A CATALYST BY WIDENING ITS EXISTING BILATERAL POLICY WITH DMC'S INTO

INVOLVING AS A

AS SUCH ORGANISATIONS

THE NECESSARY

INTERNATIONAL RELEVANT

AND THE INTERNATIONAL

FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL MONETARY FUND," HE SAID.

BANK

/HE NOTED ............

: