XN000022-1993-03-02 — Page 11

10

TUESDAY, MARCH 2, 1993

TRADE CHIEF CALLS FOR WELL-DISCIPLINED

MULTILATERAL TRADE REGIME

* * * * *

THERE ARE

SIGNS WORRYING

SHOWING

BENEFITS OF A LIBERAL TRADE REGIME IS FALTERING, TRADE, MR DONALD TSANG, SAID TODAY (TUESDAY).

AMERICA'S BELIEF IN THE DIRECTOR-GENERAL OF

AND DOUBTS,

NOW IT

TRADE ISSUES

A RASH

"FOR YEARS THE U.S. CONGRESS HAS HAD ITS SEEMS WE HAVE AN ADMINISTRATION THAT SHARES THOSE DOUBTS.

LEND

"THE EMPHASIS OF THE U.S.'S WORDS AND ACTIONS ON SO FAR HAS BEEN TO THREATEN, RATHER THAN INSPIRE AND OF ANTI-DUMPING CASES AGAINST STEEL IMPORTS; A THREAT TO WITHDRAW FROM 301 THE GATT'S GOVERNMENT PROCUREMENT CODE; TACIT SUPPORT FOR A SUPER

WORRYING SIGNS, BILL WHICH CONGRESS IS THREATENING TO PASS; ALL ARE MR TSANG SAID.

IN

U.S. THE CONTAINED MANY

HOWEVER, HE STILL BELIEVED GOOD SENSE ADMINISTRATION MIGHT PREVAIL BECAUSE THE CLINTON TEAM SUPPORTERS OF LIBERAL TRADE AND A STRONG MULTILATERAL SYSTEM.

LUNCHEON ITS PART ΤΟ BEST

FOR HOPE ON AN EARLY IN A CONFIDENCE

MR TSANG TOLD AN AUDIENCE OF THE CITY LIONS CLUB AT A MEETING THAT THE HONG KONG GOVERNMENT WAS READY TO PLAY

THE CONVINCE

ADMINISTRATION U.S.

THAT AMERICA'S ECONOMIC RECOVERY AND STRONG EXPORT-LED GROWTH DEPENDED COMPLETION OF THE URUGUAY ROUND, A VOTE OF WELL-DISCIPLINED MULTILATERAL TRADE REGIME.

DRAFTED US$120 ABOUT US$35

A CONSERVATIVE ESTIMATE OF GAINS FROM THE AGREEMENT AS

IN WORLD TRADE BY ABOUT TODAY SUGGESTED AN ANNUAL INCREASE BILLION, OF WHICH AMERICA WOULD ACCOUNT FOR THE MOST, AT BILLION.

"AS WITH CHINA'S MOST-FAVOURED-NATION (MFN) STATUS, IMPATIENCE IN THE AMERICAN CONGRESS IS PLACING U.S. ECONOMIC INTERESTS AT RISK.

AMERICAN BUSINESSES HAVE OVER US$7 KONG, OVER US$5 BILLION INVESTED IN CHINA.

TT

BILLION INVESTED

IN HONG

OF CHINA'S MEN **WITHDRAWAL

STATUS WOULD COST AMERICAN CONSUMERS AN ESTIMATED US$14 BILLION A YEAR.

ΤΟ EXPORTS JOBS ASSOCIATED WITH

"AND IF CHINA'S WERE TO RETALIATE, AMERICAN WORTH US$8 BILLION AND OVER 150,000 U.S. EXPORTS WOULD BE PUT AT RISK, MR TSANG SAID.

LAY

HE REMINDED THE AMERICANS MIDDLE-SIZED AMERICAN COMPANIES MARKET.

CHINA THOSE

THAT THE REAL CHANCE FOR IN CHINA'S AWAKENING CONSUMER

"AMERICAN PRODUCTS AND BRAND NAMES HAVE A PARTICULAR APPEAL

IN

CHINA.

U.S. EXPORTER IS BRIDGING THE

"THE REAL DIFFICULTY FOR THE CULTURAL GAP. THAT IS WHERE HONG KONG CAN HELP.

"THE TRADE