XN000022-1993-12-09 — Page 9

THURSDAY, DECEMBER 9, 1993

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JOINT LIAISON GROUP 28TH MEETING: JOINT COMMUNIQUE

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THE JOINT LIAISON GROUP HELD ITS TWENTY EIGHTH MEETING IN LONDON FROM DECEMBER 7 TO 9, 1993.

THE GROUP HAD A FURTHER DISCUSSION ABOUT THE FUTURE OF LANDS WHICH ARE NOW IN USE FOR DEFENCE PURPOSES IN HONG KONG MATTERS RELATING TO HONG KONG'S INTERNATIONAL RIGHTS AND OBLIGATIONS; HONG KONG'S AIR SERVICES AGREEMENTS; FRANCHISES AND CONTRACTS EXTENDING BEYOND 1997 AND RELATED MATTERS; INVESTMENT PROMOTION AND PROTECTION AGREEMENTS BETWEEN HONG KONG AND RELEVANT COUNTRIES; SURRENDER OF FUGITIVE OFFENDERS AGREEMENTS BETWEEN HONG KONG AND RELEVANT COUNTRIES; MUTUAL LEGAL ASSISTANCE IN CRIMINAL MATTERS BETWEEN HONG KONG AND CERTAIN COUNTRIES; LOCALISATION OF LAWS; ADAPTATION OF LAWS; THE IMPLEMENTATION OF THE PROVISIONS OF THE JOINT DECLARATION RELATING TO THE RIGHT OF ABODE IN HONG KONG AFTER 1997; VISA ABOLITION AGREEMENTS; THE RECIPROCAL ENFORCEMENT OF JUDGMENTS BETWEEN HONG KONG AND FOREIGN COUNTRIES; AND CIVIL SERVICE MATTERS.

THE NEXT MEETING OF THE JOINT LIAISON GROUP WILL TAKE PLACE THE TIME AND PLACE TO BE AGREED BY THE TWO SIDES.

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SUCCESSFUL URUGUAY ROUND BENEFITS ALL

THE

FINANCIAL SECRETARY, MR HAMISH MACLEOD, TODAY (THURSDAY) EMPHASISED THAT THE BENEFICIAL LONG-TERM EFFECTS OF A SUCCESSFUL URUGUAY ROUND WERE UNDENIABLE AND SUBSTANTIAL.

AT THE MOST GENERAL LEVEL, HE SAID, A SUCCESSFUL URUGUAY ROUND WOULD PROVIDE VALUABLE DIRECTION AND COMMITMENT TO THE WORLD'S TRADING COMMUNITY.

"IT WOULD MEAN THAT WORLD LEADERS COMMIT THEMSELVES TO AN AGREEMENT TO OPEN MARKETS, LOWER TRADE BARRIERS AND RESIST THE CLAMOUR OF SPECIAL DOMESTIC INTERESTS, HE SAID.

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HE WAS SPEAKING AT THE LUNCHEON MEETING OF THE AMERICAN CHAMBER OF COMMERCE.

НЕ NOTED THAT WHILE THE POTENTIAL FINANCIAL BENEFITS WERE DIFFICULT TO QUANTIFY, A RECENT OECD STUDY SUGGESTED THAT THE ANNUAL BENEFITS MIGHT REACH US$270 BILLION BY 2002 IF THE ROUND SUCCEEDED.

THE RESEARCHERS HAD ADMITTED THAT THIS WAS A CONSERVATIVE ESTIMATE AND THAT THEY HAD NOT BEEN ABLE TO FACTOR IN THE EFFECT ON TRADE IN SERVICES.

"SO

HOPEFULLY THE BENEFITS WILL PROVE A GOOD DEAL HIGHER THAN THIS ALREADY ENCOURAGING ESTIMATE, MR MACLEOD SAID.

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/HE ADDED