WTO supports Hong Kong free trade regime

A WTO official lauded Hong Kong for being one of the freest economies, its commitment to the multilateral trading system, and its efforts to further develop trade.

The World Trade Organisation again commended Hong Kong for its open and free trade policies at a Trade Policy Review meeting in Geneva on Friday, the sixth WTO review focusing on Hong Kong.

Leading the Hong Kong delegation, the city's Permanent Representative to the WTO Martin Glass said: "We are pleased to note WTO members' commendation of our open and free trade policies as well as Hong Kong's staunch support for the multilateral trading system and our efforts in furthering trade liberalisation and development."

He emphasised the benefits of a balanced and ambitious conclusion of the Doha Development Agenda in strengthening the multilateral trading system and liberalising trade. Members praised Hong Kong for the transparency and openness of its trade and investment regime and the constructive role it played in the Doha Development Agenda.

In his concluding remarks, the WTO Trade Policy Review Body Chairman Bozkurt Aran of Turkey praised Hong Kong for being one of the freest economies, its strong commitment to the multilateral trading system and its efforts to further develop trade with new markets around the world. He concluded the review of Hong Kong's trade policies, practices and measures has been highly positive, according to a government report.

The review covered a wide range of Hong Kong's trade objectives, policies and practices, including trade in goods and services, the general economic environment in Hong Kong and its developing trade relationship with the Mainland and other trading partners. Issues including the introduction of competition legislation, the six industries identified as having clear growth potential, wine duty exemption, protection of intellectual property rights, the nutrition labelling scheme and government procurement were also discussed.

The trade policy review mechanism aims to achieve greater transparency in the trade objectives, policies and practices of WTO members, thus facilitating the smooth functioning of the multilateral trading system. Hong Kong is subject to the review once every four years.