Edward Yau Attends WTO Meetings

Secretary for Commerce & Economic Development Edward Yau today attended a gathering in Davos, Switzerland, where he urged World Trade Organization (WTO) members to lift the blockage to the Appellate Body appointment.

Speaking at the WTO Informal Ministerial Gathering, Mr Yau said the blockage should be lifted to preserve a well-functioning WTO.

The WTO’s dispute settlement mechanism that keeps the multilateral trading system going will stall by the end of the year if new Appellate Members are not appointed in coming months.

“Hong Kong stands ready to discuss the WTO’s imperfections and appreciates the good intentions of all the WTO reform proposals for improving the dispute settlement mechanism,” Mr Yau said.

He added that attempts to negotiate new rules on e-commerce, domestic regulations and fisheries subsidies should move forward in parallel.

The gathering provided an opportunity for ministers to discuss ways to advance the trade agenda and to preserve the relevance and credibility of the multilateral trading system.

Ahead of the gathering, Mr Yau attended the Informal Ministerial Meeting on Electronic Commerce.

At the meeting, he said it is important that negotiations cover all essential elements for building a predictable and conducive e-commerce environment for global trade.

Mr Yau also said the outcome should lead to a set of trade rules which give both suppliers and consumers the confidence they need to engage in and reap the benefits of e-commerce.