XN000022-1991-03-12 — Page 12

TUESDAY, MARCH 12, 1991

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GOVT DISAPPOINTED BY AUSTRALIA'S PHASING-OUT

PREFERENTIAL TARIFF TREATMENT

* *

CERTAIN HONG KONG EXPORTS ΤΟ AUSTRALIA PREFERENTIAL TARIFF TREATMENT AS FROM JULY 1992 ECONOMIC MEASURES ANNOUNCED TODAY (TUESDAY) GOVERNMENT.

WILL GRADUALLY LOSE UNDER A PACKAGE OF BY THE AUSTRALIAN

THE

MAKE

A TRADE DEPARTMENT SPOKESMAN SAID TODAY THAT HE UNDERSTOOD MOVE CAME AS A RESULT OF THE AUSTRALIAN GOVERNMENT'S DECISION TO

AND THE MAJOR REDUCTIONS IN AUSTRALIA'S TARIFFS BETWEEN JULY 1, 1992 YEAR 2000.

ON

PRELIMINARY ACCORDING TO

ESTIMATES MADE BY THE AUSTRALIAN GOVERNMENT, THE AVERAGE GENERAL (MOST FAVOURED NATION) TARIFF RATE

PHASES FROM SOMB 18 PER ALL IMPORTS WILL HAVE FALLEN IN

CENT IN

1987-88 TO 4.7 PER CENT BY 2000.

DECIDED HONG KONG, FOR ITEMS ON WHICH

AGAINST THIS BACKGROUND, THE AUSTRALIAN GOVERNMENT HAS TO PHASE OUT THE

THE PREFERENTIAL TARIFF TREATMENT SINGAPORE, THE REPUBLIC OF KOREA AND TAIWAN ON THOSE TARIFFS ARE TO BE CUT FROM JULY 1, 1992.

UNDER THE AUSTRALIAN

SYSTEM OF

TARIFF

PERCENTAGE

PREFERENCE MARGIN

A PREFERENCES, APPLIES TO ALL IMPORTS FROM

FIVE

ANY

DEVELOPING COUNTRY.

SAID: "OUR SPOKESMAN

CERTAIN HONG KONG

COMMENTING ON THE NEW MEASURE, THE INITIAL REACTION IS THAT WE ARE DISAPPOINTED THAT EXPORTS WILL LOSE THE PREFERENTIAL TARIFF TREATMENT OVER TIME.

"THE PERFORMANCE OF OUR DOMESTIC EXPORTS TO PAST TWO YEARS WAS FAIRLY SLUGGISH. WE ARE NATURALLY IT.

IN AUSTRALIA

THE CONCERNED ABOUT

JULY 1,

HOWEVER, THE SPOKESMAN POINTED OUT THAT HONG KONG WOULD STILL ENJOY PREFERENTIAL TREATMENT FOR PRODUCTS ON WHICH DUTIES AT 1992 WOULD BE AT FIVE PER CENT OR LESS.

DUTY FREE

"OVER HALF OF HONG KONG'S EXPORTS ENTERED AUSTRALIA IN 1989-90. THESE EXPORTS WILL CONTINUE TO ENJOY DUTY FREE TREATMENT, HE ADDED,

|

EXPORTS FROM

HONG KONG AUSTRALIA'S

THE SPOKESMAN SAID IN THE LONG TERM, WOULD BENEFIT FROM THE SUBSTANTIAL TARIFF CUTS UNDER ECONOMIC REFORM.

THE DEPARTMENT LS AWAITING DETAILS FROM THE GOVERNMENT. IT WILL THEN EXAMINE

THE PROPOSALS CLOSELY LIKELY FUTURE EFFECTS OF TRADERS CONCERNED OF THE PLANS.

AUSTRALIAN AND ADVISE

THE

AUSTRALIAN

HONG KONG'S

DOMESTIC EXPORTS ΤΟ

AUSTRALIA LAST

YEAR WERE

VALUED AT $3.52 BILLION, 16 PER CENT DOWN ON 1989.

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