XN000022-1990-08-02 — Page 6

I

5

-

THURSDAY,

? 2, 1990

OF

MARKET OPERATION "HONG KONG BELIEVES IN

EFFICIENT THE

OPERATION FORCES. THE GOVERNMENT DOES NOT NORMALLY INTERFERE WITH THE

THE PRIVATE SECTOR. OF THE ECONOMY. BUSINESS DECISIONS ARE LEFT TO

TO PROGRESS

ENTREPRENEURS WHO INDEED, HONG KONG OWES ITS ECONOMIC

AVAILABLE UNDER SUCH AN HAVE TAKEN ADVANTAGE OF THE OPPORTUNITIES INDUCIVE ENVIRONMENT.

"HONG

KONG TRADING SYSTEM.

SEEKS

ΤΟ

A PROMOTE

WE THEREFORE

STABLE AND FREE, OPEN

STRONGLY UPHOLD THE MULTILATERAL

SYSTEM. IMPORTANCE OF THE GATT, THE BASIS OF THE MULTILATERAL TRADING

URUGUAY ROUND OF MULTILATERAL TRADE WE ATTACH TOP PRIORITY TO THE NEGOTIATIONS," SAID MR WONG.

MR WONG ALSO HIGHLIGHTED THE TRADE PROBLEMS FACED BY HONG AS IDENTIFIED IN ITS REPORT.

KONG

WITH

OTHER

"AS AN EXTERNALLY-ORIENTED ECONOMY AND DEPENDENT ON TRADE

TO CHANGES IN THE REST OF THE WORLD, WE ARE MOST VULNERABLE

PROTECTIONISM COUNTRIES' TRADE POLICIES AND PRACTICES. THE THREAT OF REMAINS OUR KEY CONCERN.

AND NON-TARIFF BARRIERS, "OUR EXPORTS FACE A RANGE OF TARIFF

ON TEXTILES AND CLOTHING NOTABLY THE

RESTRICTIONS QUANTITATIVE

MFA MAINTAINED UNDER

BILATERAL

ANTI-DUMPING AGREEMENTS, PRODUCTS ACTIONS AND ARBITRARY MODIFICATIONS TO RULES OF ORIGIN. WE HAVE

ROUND NEGOTIATIONS," UP THESE PROBLEMS IN THE CONTEXT OF THE URUGUAY SAID MR WONG.

TAKEN

HONG KONG'S DESCRIBED REPRESENTATIVE TRADE, BUT AN ADVERTISEMENT

ALL WHO PAID TRIBUTE

THE

TO

AT THE REVIEW THERE WAS UNANIMOUS APPRECIATION OF FREE TRADE POLICY. THE UNITED STATES TERRITORY AS "NOT ONLY A MODEL OF FREE FOR IT", A COMPLIMENT WHICH WAS ECHOED BY HONG KONG,

SOUGHT

CLARIFICATION

OR

COMMENTED

ON

VARIOUS CHANGES IN IN TRADE RICE

SOME MEMBERS ASPECTS OF HONG KONG'S TRADE POLICY AND PRACTICES SUCH AS THE STRUCTURE OF HONG KONG'S ECONOMY, THE GOVERNMENT'S ROLE AND INDUSTRIAL DEVELOPMENT, INTELLECTUAL PROPERTY PROTECTION AND CONTROL SCHEME. A NUMBER OF MEMBERS EXPRESSED INTEREST IN OFFER OF MORE BINDINGS BY HONG KONG ON ITS TARIFFS WHICH AT ZERO RATE.

COMPREHENSIVELY

ANSWERS HAVE

SEEING AN ARE ALREADY

TO THE COMMENTS AND "WE HAVE RESPONDED

BETTER CONTRIBUTED TO A QUESTIONS AND I BELIEVE OUR UNDERSTANDING OF HONG KONG'S TRADE POLICY," SAID MR WONG.

UNDER THE TRADE POLICY REVIEW BY THE GATT OF THEIR IMPACT ON

HONG KONG CAME UP FOR REVIEW MECHANISM WHICH AIMS TO ENABLE A REGULAR EVALUATION THE TRADE POLICIES AND PRACTICES OF ITS MEMBERS AND THE FUNCTIONING OF THE MULTILATERAL TRADING SYSTEM.

SEPARATE REPORTS FOR THE REVIEW,

ON THE TERRITORY'S

THE HONG POLICY AND PRACTICES WERE SUBMITTED TO THE COUNCIL BY GOVERNMENT AND THE GATT SECRETARIAT,

TRADE KONG

/THE REPORT