Edward Yau urges WTO consensus

2017-12-14 22:15:22

Secretary for Commerce & Economic Development Edward Yau has called on World Trade Organization members to reach a consensus on issues concerning global trade.

Speaking at the 11th World Trade Organization Ministerial Conference?s plenary session in Buenos Aires, Argentina, yesterday, Mr Yau said the WTO has remained the best option to keep a trade war at bay for the past 22 years.

He said all members should play a constructive role in final discussions to ensure the event is a success.

"Despite the strong headwind, WTO members should not give up on negotiations which can bring about improved disciplines and better market access for the benefit of all. We must also ensure that the WTO remains relevant to the evolving global trading environment," he said.

Mr Yau urged members to reach a consensus on future work concerning e-commerce, investment facilitation, and micro, small and medium enterprises.

He added Hong Kong looks forward to seeing intensified negotiations on domestic regulations in services trade and the fulfilment of the mandate under the General Agreement on Trade in Services.

At a meeting on domestic regulation for services trade, Mr Yau said a set of domestic regulation disciplines is a key safeguard against protectionist measures.

He added Hong Kong will co-operate to narrow the gaps among WTO members and pave the way for real negotiations as mandated under the agreement.

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