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Hong Kong chief executive calls for lower trade barriers at APEC forum

Xinhua, November 17, 2015 Adjust font size:

Chief Executive of China's Hong Kong Special Administrative Region Leung Chun-ying called for lower trade barriers here Tuesday at a CEO summit of the Asia-Pacific Economic Cooperation (APEC) forum.

Leung said that economies of the Asia-Pacific region had been going quite handsomely, particularly since China proposed the "Belt and Road" Initiative.

The initiative of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, proposed by Chinese President Xi Jinping in 2013, is aimed at reviving the ancient trade routes that span Asia, Africa and Europe.

Noting that Hong Kong was at the gateway of this wave of development opportunities, Leung said Hong Kong expected different economies to promote free trade.

Talking about the frustrated role of the World Trade Organization in regulating global trade, Leung said "I think we should not give up WTO. Hong Kong would like to see a solid global arrangement, with low barriers to trade."

The chief executive also said economies need to be careful when looking at a wide range of bilateral and multilateral trade agreements, and should not let them "end up in a spaghetti bowl."

The CEO summit was held on Monday and Tuesday, ahead of the APEC Economic Leaders' Meeting which will kick off in the Philippine capital on Wednesday. Endit