"As our contribution to this process, Hong Kong will bind tariff at zero percent in the WTO on all imports in three stages by the year 2010, to provide certainty for business," she said.
"We will work to establish mutual recognition arrangements for product certification, and align standards for electrical appliances, pipes and fittings, and a range of food products with international standards".
The MAPA also sets out some 320 economic and technical cooperation projects being undertaken by APEC in a wide range of areas including human resources development, telecommunications, transportation and environmental protection.
On APEC's contribution to the WTO Ministerial Conference, Ministers endorsed the efforts at the WTO to conclude an information technology agreement by the Ministerial Conference and urged all other WTO members to work toward that end.
"I am pleased to see a strong commitment to successfully complete the WTO ongoing negotiations on financial services and basic telecommunications within the agreed time frames next year," Miss Yue said.
"An agreement on global liberalisation of these two sectors would provide greater overseas market access opportunities for Hong Kong's service providers."
"I am also delighted that there is a clear recognition of the need to ensure that the WTO is responsive to developments in the global economy", said Miss Yue.
APEC Ministers also decided not to extend the moratorium for new members which expires this year. They agreed that at the Ministerial Meeting next year the set of admission criteria would be adopted after being refined and updated. They further agreed that in 1998, new members would be announced based on the adopted criteria. New members would be admitted in 1999.
In 1994, APEC set a goal of free and open trade and investment to be attained by 2010 for industrialised economies and 2020 for developing economies.
In 1995, APEC adopted a blueprint of measures, called the Osaka Action Agenda, to achieve this goal. Under this Action Agenda, each member is required to draw up this year an Individual Action Plan setting out the actions that it will take to liberalise and facilitate trade and investment. In addition, members will undertake collective liberalisation and facilitation actions and economic and technical cooperation activities.
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