XN000022-1992-02-27 — Page 10

THURSDAY, FEBRUARY 27, 1992

ON THE OUTLOOK OF HONG KONG'S EXTERNAL TRADE THIS YEAR, MR TSANG HIGHLIGHTED THE URUGUAY ROUND (UR) OF MULTILATERAL TRADE NEGOTIATIONS, WHICH AIMED AT FURTHERING TRADE LIBERALISATION,

"THIS ROUND OF TRADE NEGOTIATIONS HAS GONE ON FOR FIVE LONG YEARS. THE SLOW PROGRESS HAS CREATED A GREAT DEAL OF UNCERTAINTIES.

"WE HAVE HEARD FEARS ABOUT THE COLLAPSE OF THE ROUND RISE OF REGIONAL TRADING BLOCS, HE SAID.

H

AND

THE

HOWEVER, THERE WAS STILL A GENERAL BELIEF THAT THE GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT) WAS THE CUSTODIAN OF THE OPEN MULTILATERAL TRADING SYSTEM. AND THIS SYSTEM

THE CORNERSTONE OF HONG KONG'S TRADING POLICY.

AN

ELEMENT

IN THE

IS

OUT

AND (MFA)

THE ΤΟ

AGREEMENT, WHICH WAS OF PARTICULAR IMPORTANCE TO HONG KONG, WAS THE PROGRAMME то PHASE RESTRICTIONS UNDER THE EXISTING MULTIFIBRE ARRANGEMENT RETURN TRADE IN TEXTILES TO GATT RULES OVER THE NEXT DECADE.

TRADE INCLUDING THE NEW ANTI-DUMPING CODES AND

HAVE IMPACTS ON HONG KONG'S OVERALL TRADE

OTHER ELEMENTS, IN SERVICES, WOULD ALSO DEVELOPMENT.

MR TSANG SAID HE

SINCERELY HOPED THAT THE UR NEGOTIATIONS WOULD COME TO A SUCCESSFUL CONCLUSION.

WITH

"WE, THE HONG KONG GOVERNMENT

THE TRADE DEPARTMENT IN PARTICULAR, SHALL DO OUR BEST TO ACHIEVE BALANCED RESULTS," HE ADDED.

ISSUE

HOPED THE U.S. BASED ON THEIR IN RELATION TO

ON SINO-AMERICAN TRADE RELATIONSHIP, MR TSANG AND CHINA COULD BE ABLE TO RESOLVE THEIR DIFFERENCES RECENT EXPERIENCE IN HANDLING THE SPECIAL 301 THE PROTECTION OF INTELLECTUAL RIGHT.

SENATE

ON THE MOST-FAVOURED-NATION (MFN) TRADE STATUS, THE U.S. PASSED A BILL ATTACHING CONDITIONS ON RENEWAL OF CHINA'S STATUS BY TO 39 VOTES TWO DAYS AGO.

THAT

PRESIDENT BUSH WOULD

TO WOULD CONTINUE

IS HEARD AND ITS

MR TSANG WAS CONFIDENT ADDING THAT THE HONG KONG GOVERNMENT EFFORT TO ENSURE THAT HONG KONG'S CASE TAKEN INTO ACCOUNT BY THE U.S. ADMINISTRATION.

NEW OPPORTUNITIES AND

59

VETO IT, MAKE EVERY INTERESTS

CHALLENGES HONG KONG AS WELL

IN EUROPE, THE FACING CAME FROM THE FORMATION OF THE SINGLE EUROPEAN MARKET AS THE POLITICAL AND ECONOMIC REFORMS IN CENTRAL AND EASTERN EUROPE.

CONSUMERS, THE

SINGLE

"WITH A TOTAL OF SOME 340 MILLION EUROPEAN MARKET OFFERS IMMENSE BUSINESS OPPORTUNITIES.

ALLOW FOR THE FREE WOULD LOGICALLY RESULT IN

"THE DISMANTLING OF INTERNAL BARRIERS -TO CIRCULATION OF GOODS, CAPITAL AND PEOPLE IMPROVED MARKET ACCESS.

IT "HOWEVER,

PROVIDES NO GUARANTEE THAT EUROPEAN COMMUNITY WILL BE EASY," MR TSANG SAID.

TRADE WITH

THE

/HE POINTED

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