XN000022-1992-09-12 — Page 2

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SATURDAY, SEPTEMBER 12, 1992

FOURTH ASIA-PACIFIC ECONOMIC CO-OPERATION MEETING A GREAT SUCCESS

THE SECRETARY FOR TRADE AND INDUSTRY, MR (SATURDAY) HAILED THE FOURTH MINISTERIAL MEETING OF ECONOMIC COOPERATION (APEC) AS A MILESTONE IN THE ORGANISATION.

T H CHAU, TODAY

THE ASIA-PACIFIC HISTORY OF THAT

SEPTEMBER 10-11

RETURNING TODAY FROM THE APEC MEETING HELD ON IN BANGKOK, THAILAND, MR CHAU SAID: "WE MADE A NUMBER OF IMPORTANT DECISIONS AT THIS MEETING. IN PARTICULAR, WE HAVE DECIDED TO SET UP A PERMANENT SECRETARIAT OF APEC IN SINGAPORE.

.

"WE HAVE ALSO DETERMINED THE LEVELS OF CONTRIBUTION WHICH INDIVIDUAL MEMBERS WILL MADE TOWARDS THE APEC BUDGET," HE SAID, NOTING THAT SUCH LEVELS HAVE BEEN WORKED QUIT ON AN OBJECTIVE AND EQUITABLE BASIS.

ΤΟ APEC'S то ENABLE THE

"THESE DECISIONS WILL GIVE GREATER IMPETUS ACTIVITIES AND PROVIDE AN EFFECTIVE, ORGANISATION VARIOUS WORK PROJECTS OF APEC TO GO FORWARD.

ON SINGAPORE AS

"HONG KONG WAS HAPPY TO SUPPORT THE DECISION THE SEAT OF THE SECRETARIAT. SINGAPORE WAS CHOSEN FROM AMONG FOUR COMPETITIVE AND GENEROUS BIDS.

"IT WAS A DIFFICULT DECISION BUT NONETHELESS MADE AMICABLY BY

CONSENSUS.

"THE FACT THAT FOUR BIDS WERE MADE REFLECTS THE ENTHUSIASM AND INTEREST OF MEMBERS IN THE APEC PROCESS", MR CHAU ADDED.

THE MEETING ALSO DISCUSSED THE CURRENT STATE OF THE URUGUAY ROUND OF GATT NEGOTIATIONS.

"APEC MEMBERS RENEWED THEIR COMMITMENT TO THE MULTILATERAL APPROACH TO WORLD TRADE AND URGED IMMEDIATE AND DECISIVE ACTION BY ALL CONCERNED TO CONCLUDE THE NOGOTIATIONS BY YEAR END. MR CHAU SAID.

"

SENIOR OFFICIALS OF APEC MEMBERS BEGAN ΤΟ GATHER ON SEPTEMBER 5, IMMEDIATELY BEFORE THE MINISTERIAL MEETING AND PREPARED THE GROUND FOR MINISTERS.

DURING THE COURSE OF THE BANGKOK CONFERENCE, THE HONG KONG DELEGATION HELD A NUMBER OF INFORMAL, SEPARATE TALKS WITH OTHER DELEGATIONS, AND EXCHANGED VIEWS ON ISSUES OF COMMON INTEREST.

HONG KONG JOINED APEC IN 1991. IT WAS THE SECOND TIME THAT HONG KONG PARTICIPATED IN AN APEC MINISTERIAL MEETING.

/OTHER MEMBERS