negotiations
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The Secretary for Commerce, Industry and Technology, Mr John Tsang, today (October 5) called for even stronger leadership from the European Union (EU) in making the Sixth Ministerial Conference (MC6) of the World Trade Organization (WTO) a success.
Mr Tsang made the appeal at the luncheon for "A Roundtable Discussion on strengthening EU-HK Trade and Business Cooperation", hosted by the Office of the European Commission in Hong Kong.
Noting that the MC6 is a major milestone on the road to international trade liberalisation, he said the EU was no doubt a key player in this process.
The EU has been a staunch advocate and pioneer in launching this current round of negotiations. It played an instrumental role in re-energising the negotiations after the Doha Development Agenda (DDA) had seemingly fallen apart in the last Ministerial Conference in Cancun.
"We are encouraged by the recent positive efforts of the EU in cultivating understanding on the key issues with the US as well as with other key WTO Members.
"As the Hong Kong Ministerial draws near, even stronger leadership from the EU, exercised with pragmatism, flexibility and political will, will become an increasingly crucial element for attaining meaningful outcomes.
"You can all play a part in advancing the process by exercising influence on your respective governments, impressing upon them the benefits that EU businesses would derive from a successful Doha Round," Mr Tsang said, adding that as Chair of the Hong Kong Ministerial, he was working very closely with the European Commissioner for Trade, Mr Peter Mandelson, to bring this about.
He pointed out that agriculture remained the major hurdle in this round of negotiations. WTO Members are looking to the EU and the US to spearhead liberalisation in their various agricultural support measures.
"Movement in agriculture is the key to unlock progress in other areas, such as services and industrial tariffs.
"But the hard fact is that we have 10 weeks – just 69 days – before MC6. It's a big task, but Hong Kong, as host, will do everything possible in our power to produce a positive outcome."
He noted that it had been estimated that the world economy could be boosted by some US$600 billion if existing trade barriers in agriculture, manufacturing and services trade were cut by a third.
It is also estimated that a successful conclusion to the round could potentially lift 140 million people out of poverty.
"We, therefore, attach the highest importance to the ongoing negotiations under the DDA.
"We should join forces to push forward the current round of negotiations to create enhanced business opportunities worldwide and to bring new hope to millions of disadvantaged people around the world looking for a better living for themselves and their children," Mr Tsang stressed.
Ends/Wednesday, October 5, 2005
Issued at HKT 14:00
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