XN000022-1993-11-19 — Page 2

FRIDAY, NOVEMBER 19, 1993

REPORT ON POLITICAL DEVELOPMENT REFUTED

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A GOVERNMENT SPOKESMAN TODAY (FRIDAY) DISMISSED A CLAIM PUBLISHED THIS MORNING IN A HONG HONG NEWSPAPER THAT THE PRIME MINISTER, MR JOHN MAJOR, HAS OFFERED FURTHER CONCESSIONS TO CHINA IN A BID TO SECURE AGREEMENT ON HONG KONG'S POLITICAL DEVELOPMENT.

THE SPOKESMAN SAID IN HIS MESSAGE TO PREMIER LI PENG, MR MAJOR PROPOSED THAT THE SINO-BRITISH TALKS ON THE ARRANGEMENTS FOR THE 1994/95 ELECTIONS IN HONG KONG MOVE INTO A MORE INTENSIVE PHASE.

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"THE PRINE MINISTER HAS NOT OFFERED NEW CONCESSIONS. THIS REPORT FROM PEKING IS ENTIRELY WITHOUT FOUNDATION, THE SPOKESMAN ADDED.

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APEC MESSAGE ON URUGUAY ROUND URGED

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THE SECRETARY FOR TRADE AND INDUSTRY, MR T H CHAU, CALLED FOR A STRONG MESSAGE ON COMPLETING THE URUGUAY ROUND OF MULTILATERAL TRADE NEGOTIATIONS UNDER THE GATT.

SPEAKING AT THE ASIA-PACIFIC ECONOMIC CO-OPERATION (APEC) FIFTH MINISTERIAL MEETING IN SEATTLE, HE SAID: "IT IS VITALLY IMPORTANT THAT APEC SEND A STRONG COLLECTIVE MESSAGE URGING AN EARLY AND SUCCESSFUL CONCLUSION TO THE ROUND."

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"COMMITMENT BY GATT MEMBERS OF APEC TO SUBSTANTIVELY MARKET ACCESS OFFERS WOULD GREATLY STRENGTHEN THIS MESSAGE. CHALLENGE OTHER PARTICIPANTS TO DO SO AS WELL.

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MR CHAU SAID A STRONG COMMITMENT IN OTHER AREAS NEEDED.

HE HIGHLIGHTED TRADE IN SERVICES AND IMPROVEMENTS GATT INSTITUTION AND RULES.

IMPROVE LET US

WAS ALSO TO THE

*OFFERS ON SERVICES, PARTICULARLY FINANCIAL SERVICES, NEED то BE IMPROVED, MR CHAU SAID.

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"THIS WOULD GIVE THE NEW SERVICES AGREEMENT REAL CREDIBILITY IN THE EYES OF BUSINESSMEN. AND THERE MUST BE NO EXEMPTION FOR TAXATION MEASURES. TO ALLOW ONE WOULD TOTALLY UNDERMINE THE VALUE OF THE

AGREEMENT.

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MR CHAU SAID HONG KONG ATTACHED HIGHEST STRENGTHENING THE MULTILATERAL TRADING SYSTEM.

PRIORITY TO

"THE POST-URUGUAY ROUND GATT MUST BE A STRONG AND RESPECTED INSTITUTION, WITH GREATER STATURE THAN BEFORE.

"IT MUST HAVE AN EFFICIENT AND EFFECTIVE DISPUTE SETTLEMENT SYSTEM WHOSE DECISIONS ARE RESPECTED BY ALL CONTRACTING PARTIES. AND ITS RULES AND DISCIPLINES MUST BE STRENGTHENED AND CLARIFIED, NOT LENGTHENED AND MADE MORN AMBIGUOUS, PARTICULARLY IN THE AREA OF ANTI- DUMPING," HE SAID.

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