Hong Kong is pushing for an ambitious formula that will bring tariff cuts for the benefit of all World Trade Organization (WTO) members.

Speaking on the fourth day of the WTO's Sixth Ministerial Conference at the Hong Kong Convention and Exhibition Center on Friday, Hong Kong Assistant Director-General of Trade and Industry Rosanna Law, said the objective of the Hong Kong delegation is shared by the majority members.

"On non-agricultural market access, discussion is concentrating on the structure of the tariff reduction formula, including flexibility for developing countries. Views are mixed, but there is a general consensus that higher tariffs should be subject to higher cuts," she said.

"What we are doing is to push for an ambitious formula to deliver a real reduction of tariffs, particularly for products of export interest to developing countries. We are working with a number of like-minded members to achieve this. Our objective is shared by the majority of members, but real progress is linked to progress in agriculture."

Law said agriculture discussion at this stage focused on the possibility of setting an end-date for the elimination of all forms of export subsidies. Hong Kong strongly supported this work and looked to major players, such as the European Community, to demonstrate leadership.

On services, Law said Hong Kong was working with like-minded members to secure ministers' endorsement of the direction and approaches set out in Annex C of the Draft Ministerial Declaration.

On development, discussion is focusing on the question of duty-and quota-free access for the least-developed countries.

The Hong Kong delegation fully supports this initiative and "we spare no efforts in all the informal meetings to push for its adoption," Law said.

She said "Negotiations are intensifying. The delegation hopes that all members will exercise flexibility and pragmatism to bring about a successful outcome."

Source: Xinhua