Leading the Hong Kong delegation, the Permanent Representative of the Hong Kong Special Administrative Region of China to the WTO, Mr. 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 liberalization and development.' 'He stressed the benefits of a balanced and ambitious conclusion of the Doha Development Agenda in strengthening the multilateral trading system and liberalizing trade.
The Discussant for the Review, Ambassador Eduardo Mu'oz G'mez of Colombia, said that it was an enriching exercise to examine an economy such as Hong Kong's which is vibrant, dynamic, open and committed to the multilateral trading system. 'Hong Kong had showcased the benefits of integration into international trade.
Members acclaimed 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 Chairman of the WTO Trade Policy Review Body, Ambassador 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 that the review of Hong Kong's trade policies, practices and measures had been highly positive.
The Trade Policy Review covers 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 of China and other trading partners. A number of 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 labeling 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 individual WTO Members, thus facilitating the smooth functioning of the multilateral trading system. Hong Kong is subject to the WTO Trade Policy Review once every four years.
