Edward Yau Makes Trade Plea

Secretary for Commerce & Economic Development Edward Yau has urged Asia-Pacific Economic Cooperation members to support the multilateral trading system.

Speaking at a discussion session at the APEC Ministers Responsible for Trade Meeting in Port Moresby today, Mr Yau said trade disputes can hurt rival parties and cause collateral damage to trade and economic development.

Given their interdependence in the closely-knit world economy, he said APEC member economies are vulnerable and should redouble support for the rule-based multilateral trading system, with the World Trade Organization at its centre.

He said Hong Kong, as a loyal WTO member and a responsible custodian, stands ready to work with the other 163 WTO members to make the organisation stronger against protectionism.

"However, we cannot have a meaningful discussion if any one of us behaves like a captain getting ready to abandon its ship."

Mr Yau said Hong Kong, as a staunch supporter of the multilateral trading system and a free trade practitioner, is very concerned about the prolonged impasse in filling the vacancies in the Appellate Body of the WTO.

He urged all APEC member economies push forward the process for filling in the appellate body's vacancies.

Mr Yau also participated in two other discussion sessions - "Fostering Sustainable & Inclusive Growth Through Digital Agenda" and "Deepening Regional Economic Integration & Connectivity".

Between these sessions, Mr Yau attended a minister's working lunch to speak with ministers on enhancing market access for micro and small and medium enterprises using information and communications technology.

On the sidelines of the APEC meeting, he met trade and economic development officials from Indonesia, the Philippines, Singapore, Canada, New Zealand, Malaysia, Thailand and Vietnam.

The trade meeting will continue tomorrow.