"With our long history and strong credentials as a free trader, and as a beneficiary of its fruits, Hong Kong is in a better position than any other economy to speak up for free trade and open markets," Hong Kong Chief Executive Donald Tsang said here Friday.

Tsang made the remarks at the Hong Kong General Chamber of Commerce's 12th Annual Hong Kong Business Summit, "Heading into 2006: Hong Kong & the WTO."

Tsang outlined four reasons Hong Kong was keen to host the Sixth WTO Ministerial Conference that would kick off in 11 days.

"For all its complexities and challenges, we take it on with pride and with good Hong Kong relish," he said.

The administration believes Hong Kong is capable of handling whatever happens both inside and outside the Hong Kong Convention and Exhibition Center, he said.

"We also take it as an acknowledgment of our competence as a world city that we have been entrusted to do this job. Clearly, the member economies of the WTO believe we can handle whatever challenges that arise."

"As a responsible world citizen and, as a champion of the multilateral trading system, we want to do what we can to see it consolidated and strengthened," he added.

"Fourth, the former (US) President Bill Clinton, in this very place, described Hong Kong as 'Exhibit A in the case for global interdependence and its benefits.' We want to show the world the results of those benefits."

Last year, nearly half a million vessels visited Hong Kong, about 120 times more than in 1866. Trade in goods and services now accounts for over three-and-a-half times Hong Kong's domestic wealth. At present, Hong Kong's total trade stands at 4.13 trillion HK dollars (533 billion US dollars), he said.

"Our per-capita GDP, for example, has soared over 80-fold since 1955, to more than 24,000 US dollars today."

That is why he is confident a successful outcome of the Doha Round would not only bring greater prosperity across the world, " but in particular in those parts of the planet where one in five of our poorest fellow human beings live on less than 1 dollar a day," he said.

He said "Hong Kong is renowned for achieving progress through teamwork. I am confident that we will show the world that team spirit this month, while showcasing the myriad ways in which Hong Kong has benefited from globalization."

Source: Xinhua