Hong Kong will benefit from a new round of trade talks that involve tearing down trade barriers, says Permanent Representative of Hong Kong to the World Trade Organisation (WTO) Stuart Harbinson. As the current chair of the WTO General Council, Hong Kong plays an important role in setting global trade regulations.

“There are a number of subjects which are included in the negotiating agenda of the WTO which are of interest to Hong Kong,” said Mr Harbinson during an interview on RTHK’s Radio 3 Hong Kong Today programme on 19 November.

First and foremost was the issue of trade and services, he explained. “Hong Kong depends on trade and services for a substantial part of its GDP. It is recognised that we are pretty competitive in terms of the world, and therefore a round of negotiations on liberalisation of trade and services would be very much to our benefit,” said Mr Harbinson.

“Secondly, there are also to be negotiations on reductions of industry tariffs. Hong Kong has no tariffs, but other WTO members would have to lower theirs. Similarly, negotiations on reducing subsidies given by governments will also be beneficial to Hong Kong because it does not subsidise industry.

“As a result of WTO, China will be more integrated with the world economy, and the ‘size of the cake’ will expand. Hong Kong has a very good and very positive agenda from the WTO talks, and should look forward to the results with a fair degree of confidence,” Mr Harbinson concluded.