TNAG-1492-FCO40-2050-Future-of-Hong-Kong-General-Agreement-on-Tariffs-and-Trade-(-1986 — Page 218

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GOVERNMENTS ON THE QUESTION OF HONG KONG, SIGNED IN PEKING ON 19 DECEMBER 1984, PROVIDES THAT THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF CHINA, WHICH WILL COME INTO EXISTENCE ON 1 JULY 1997,

WILL RETAIN THE STATUS OF A SEPARATE CUSTOMS TERRITORY: MAY ON

ITS OWN CONCLUDE RELEVANT AGREEMENTS WITH STATES, REGIONS AND

RELEVANT INTERNATIONAL ORGANISATIONS: AND MAY PARTICIPATE IN

RELEVANT INTERNATIONAL ORGANISATIONS AND INTERNATIONAL TRADE

AGREEMENTS SUCH AS THE GATT.

4.

TO GIVE EFFECT TO THESE PROVISIONS OF THE JOINT

DECLARATION, THE BRITISH AND CHINESE GOVERNMENTS HAVE NOW AGREED THAT THEY WILL MAKE PARALLEL DECLARATIONS TO THE DIRECTOR-GENERAL

OF THE GATT. THE PURPOSE OF OUR PRESENT APPROACH IS TO GIVE

ADVANCE INFORMATION OF OUR INTENTIONS AND TO SEEK UNDERSTANDING

OF WHAT WE PROPOSE. THE PRC EMBASSY WILL BE MAKING A SIMILAR

DEMARCHE.

5.

THE BRITISH DECLARATION WILL REFER TO THE DECLARATION

MADE BY THE UK ON 28 JUNE 1948 CONCERNING THE APPLICATION OF THE

GATT TO HONG KONG: DECLARE THAT HONG KONG, BEING A SEPARATE CUSTOMS TERRITORY IN RESPECT OF WHICH THE UNITED KINGDOM HAS

ACCEPTED THAT AGREEMENT, POSSESSES FULL AUTONOMY IN THE CONDUCT OF ITS EXTERNAL COMMERCIAL RELATIONS AND OF THE OTHER MATTERS

PROVIDED FOR IN THE AGREEMENT: AND DECLARE THAT IN ACCORDANCE WITH ARTICLE XXVI(5) (C) OF THE GATT AND IN ACCORDANCE WITH THE WISHES OF HONG KONG, HONG KONG WILL WITH IMMEDIATE EFFECT BE DEEMED TO BE A CONTRACTING PARTY TO THE AGREEMENT.

6.

THE CHINESE DECLARATION WILL RECALL THE PROVISIONS IN THE JOINT DECLARATION ACCORDING TO WHICH THE HONG KONG SAR OF CHINA WILL DECIDE ITS ECONOMIC AND TRADE POLICIES ON ITS OWN. IT WILL

GO ON TO DECLARE THAT AS FROM 1 JULY 1997 THE HONG KONG SAR WILL MEET THE REQUIREMENTS FOR A CUSTOMS TERRITORY TO BE DEEMED TO BE A CONTRACTING PARTY AS PRESCRIBED IN GATT ARTICLE XXVI(5)(C), AND THEREFORE MAY, USING THE NAME OF HONG KONG, CHINA', CONTINUE TO BE DEEMED TO BE A CONTRACTING PARTY TO THE GATT.

7.

THE BRITISH AND CHINESE GOVERNMENTS ARE CONFIDENT THAT THIS PROCEDURE IS FULLY IN ACCORDANCE WITH THE PROVISIONS OF THE

GATT. THIS HAS BEEN CONFIRMED BY INFORMAL ADVICE FROM THE GATT

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