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The Chief Executive, Mr Donald Tsang, today (November 14) urged a strong show of leadership by Asia-Pacific Economic Cooperation (APEC) to secure the conclusion of the Doha Round in 2010. He said that Hong Kong strongly believed in the multilateral trading system and breaking down trade barriers was APEC's mission.
Speaking on the first day of the APEC Economic Leaders' Meeting in Singapore, the Chief Executive remarked that APEC could show that free trade worked and generated wealth. Hong Kong, China had been working with like-minded World Trade Organization (WTO) Members, including some APEC economies, to fight protectionism.
Mr Tsang said that the WTO Ministerial meeting hosted by Hong Kong in 2005 delivered a reasonable declaration with a view to bringing the Doha Round to a satisfactory conclusion.
"Like many WTO Members, Hong Kong is frustrated by the lack of progress in Geneva over the past year," said Mr Tsang.
"Few moments in modern history require revitalisation of global trade more than now. Global trade has shrunk significantly over the past year. Concluding the Doha Round would be a good stimulus to drive economic recovery.
"Hong Kong supports drawing up a Free Trade Area of the Asia-Pacific (FTAAP). However, any FTAAP must reinforce the multilateral trading system, and complement APEC's work to realise the Bogor Goals."
Mr Tsang remarked that Hong Kong, together with Singapore and Australia, had been leading efforts to boost connectivity through establishing a supply chain connectivity framework.
Earlier in the morning, the Chief Executive had breakfast with President Hu Jintao and updated him on Hong Kong's latest development.
He joined other Economic Leaders to meet APEC Business Advisory Council members to exchange views on ways to further the work of APEC in the afternoon.
In the evening, he and other leaders, donned in attires with Singapore's Peranakan style, attended the official dinner hosted by the Prime Minister of Singapore, Mr Lee Hsien Loong.
Tomorrow, the Chief Executive will continue to attend the APEC Economic Leaders' Meeting.
Ends/Saturday, November 14, 2009
Issued at HKT 22:35
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