XN000022-1996-04-19 — Page 4

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He said there was a natural constituency in support of such an overhaul and this was the international business community.

"We need to mobilise that constituency. We need to mobilise also those others who are currently disadvantaged by the system, especially consumers." Mr Miller added.

Noting that the post-war trading system has facilitated the globalisation of enterprise, Mr Miller said it had also enabled many parts of the world, including Hong Kong, to reap quantum gains in prosperity. But prosperity has not been globalised.

"I think that we should examine the current rules and try to establish: are there things about the current rules which work to the disadvantage of the least developed? To my mind, some of the 'Special and Differential' treatment let-outs in the current creed actually inflict wounds rather than help heal them," he said.

"We also need to look at the current pattern of remaining trade barriers. Are there trade barriers or restrictions that are manifestly harming, preventing or inhibiting the least developed countries from beginning the process of industrialisation? Agriculture is clearly one. Textiles and Clothing restraints another

"However, I do not wish to pre-empt discussion. Instead, I urge that, as a priority, we commission a study aimed at identifying those areas of liberalisation that would help the least developed economies most and then act on it with all despatch."

In conclusion, Mr Miller said: "I think that we should aim to lift the level of debate and decision at Singapore. There is no points bringing Ministers together unless the intention is to take serious decisions about direction."

Summing up on Hong Kong's stance, Mr Miller said: "Hong Kong suggests that there are three areas in which this sort of decision is needed.

"The first is to set a bold target for free flows of goods, services and investment world-wide and to agree to work together in building the political momentum needed to realise it. The second is to commence an immediate review of the rules to ensure that they are relevant in today's global economy. The third is to use liberalisation to spread prosperity by seeking ways to help the least developed economies past the take- off point."

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