The Chief Executive is pleased APEC Economic Leaders have reaffirmed their strong commitment to finalising the current round of global trade negotiations known as the Doha Development Agenda.
As the 11th APEC Annual Economic Leaders Meeting closed today in Bangkok, Tung Chee Hwa said he is glad economic leaders have stressed the primacy of the multilateral trading system in promoting free and open trade and investment within APEC and other economies.
He said Hong Kong fully supported re-energising global trade negotiations, and agreed that flexibility and political will are urgently needed to successfully conclude the agenda's negotiations by January 1, 2005.
Promoting trade and investment liberalisation was one of the three main topics discussed in Bangkok, along with enhancing human security and using APEC to help people and societies benefit from globalisation.
Strong support from Hong Kong
On security, Mr Tung said Hong Kong took its international responsibilities extremely seriously and will work closely with other jurisdictions to combat terrorist groups.
He said Hong Kong has played a leading role in curbing the financing of terrorist activities, and enhanced sea and air transport security, with stringent customs controls preventing the illicit trade and transhipment of weapons and strategic commodities.
Mr Tung welcomed APEC's action plan on SARS, and an initiative that will help prevent and respond to regional health threats.
He backed regional efforts to promote sound and efficient financial systems and fundamentals, and said Hong Kong will continue to work with other Asian central banks and monetary authorities to promote the development of regional bond markets.
Not the time for a sales tax
Meanwhile, responding to media questions, Mr Tung reiterated that the Government is not considering implementing a sales tax as it is not the right time to do so, considering the serious deflation in Hong Kong.
He said that in the longer term, the Government will look into whether there is a necessity to broaden the tax base. However, there is no timetable for this.
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