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 From Hong Kong's Information Services Department
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June 5, 2008
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Trade
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Freer trade urged to tackle food price rise
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Secretary for Commerce & Economic Development Frederick Ma has urged all economies to help address the problem of rising food prices by working together to ensure freer trade in agricultural products.

 

He made the call today at a trade session of the Organisation for Economic Co-operation & Development's Ministerial Council Meeting in Paris. He discussed with other trade ministers the World Trade Organisation Doha Round negotiations and the multilateral trading system's future challenges.

 

Saying this is the moment to create an environment that will facilitate more efficient and speedy adjustments to imbalances in supply and demand in global food markets, Mr Ma urged all economies to dismantle agriculture trade barriers by making timely and forthright decisions in the agriculture negotiations.

 

He said Hong Kong is firmly committed to the full implementation of the WTO Hong Kong Ministerial Declaration.

 

"The final outcome of the round should therefore cover not only agriculture, but also real and significant market access improvements on non-agricultural products, improved market access commitments and domestic regulations for services, and a set of clear and improved trade rules to ensure that these market access improvements are not eroded by abuse or misinterpretation."

 

Mr Ma will take part in an informal meeting of trade ministers organised by Australia to discuss the way forward to bring the round to a successful conclusion.