XN000022-1994-06-07 — Page 8

7

TUESDAY, JUNE 7, 1994

"CONCERN ABOUT CHINA'S MANUFACTURING

OCCASIONALLY

THE KONG'S

AND CAPACITY

HONO DISRUPT PROTECTIONISM RE-EXPORT TRADE; PROTECTIONISM WILL THREATEN IN NEW GUISES.

IT

WILL EXCITES

TO OFFER A CONTINUE RULES "BUT PROVIDED THE MULTILATERL

HONG FRAMEWORK FOR GROWING TRADE IN GOODS AND SERVICES, AND PROVIDED

I AM AS

SURF IT WILL, THEN KONG REMAINS COMMITTED TO FREE TRADE,

WELL-PLACED TO MAKE HONG KONG BUSINESS WILL CONTINUE TO BE UNIQUELY THE BEST OF STEADILY GROWING INTERNATIONAL TRADE.

ON THE GROWING DISCIPLINES, MR JACKSON SAID

IMPORTANT TO

11

IMPACT

AND STRENGTH THESE DISCIPLINES AND HONG KONG

OF

INTERNATIONAL

TRADE

HAD

PROVED

VITALLY

HAD

THRIVED UNDER

THE

WORLD TRADE

PROTECTION OF ITS DISCIPLINES.

-

40 PER ON AVERAGE

IN 1948, HAD BERN A DRIVING HE SAID THE GATT, ESTABLISHED

DOWN FROM OVER FORCE BEHIND SUCCESSIVE TARIFF REDUCTIONS CENT AMONG DEVELOPED COUNTRIES TO LESS THAN FIVE PER CENT TODAY.

"WORLD TRADE GREW ENORMOUSLY OVER THAT

ALSO HELPED BY TARIFF REDUCTIONS, BUT

WHICH RULES

THE THE

PERIOD, STIMULATED GREATER CLARITY,

GATT

ENCOURAGES AND

IN TRADE TRANSPARENCY, DISCIPLINING RESTRICTIONS ON OTHER TRADE BARRIERS THAT TO RAISE, HE SAID.

וו

BY

OR

BY

COUNTRIES TRY

TALKS AND BY "THE URUGUAY ROUND WAS THE EIGHTH ROUND OF GATT

IN TARIFFS FAR THE MOST AMBITIOUS. IT PRODUCED A FURTHER OVERALL CUT

ΤΟ SERVICES OF ABOUT 30 PER CENT, EXTENDED MULTILATERAL TRADE RULES

MUCH STRONGER DISPUTE PROVIDED FOR A AND INTELLECTUAL PROPERTY,

FOR FOUNDATIONS THE

A WORLD TRADE SETTLEMENT MECHANISM AND ORGANISATION TO REPLACE THE GATT.

LAID

ROUND WAS JUST MR JACKSON SAID THE SUCCESS OF THE URUGUAY EXAMPLE OF A BROADENING RECOGNITION OF THE VALUE OF MARKET FORCES FREE TRADE.

"THE

ONE

AND

UP

SYSTEM WILL PROVIDE STEADY MULTILATERAL STRENGTHENED

AND OPEN PRESSURE ON GOVERNMENTS TO RESIST CALLS FOR PROTECTION THEIR ECONOMIES TO MORE INTERNATIONAL COMPETITION," HE SAID.

VOLUME AND PRICE MOVEMENTS OF EXTERNAL TRADE IN MARCH 1994

OF 1994 THE VOLUME OF DOMESTIC EXPORTS IN THE FIRST QUARTER

LAST PERIOD

YEAR, WHILE THAT OF DECREASED BY 9.0% OVER THE SAME

THE STATISTICS RE-EXPORTS RECORDED AN INCREASE OF 13%, ACCORDING TO RELEASED TODAY (TUESDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

OF TAKING DOMESTIC EXPORTS AND RE-EXPORTS TOGETHER, THE VOLUME

MEANWHILE, IMPORTS INCREASED BY 8.1% TOTAL EXPORTS INCREASED BY 7.9%. IN VOLUME.

THE GROWTH IN THE VOLUME OF TRADE IS DERIVED FROM THE GROWTH IN TRADE VALUES WITH THE EFFECT OF PRICE CHANGES BEING DISCOUNTED.

/AS REGARDS