The Chief Executive, Mr Tung Chee Hwa, said today (November 16) in Brunei that this year's Asia Pacific Economic Co-operation (APEC) Leaders Declaration contained elements of particular interest and importance to Hong Kong.

The declaration, finalised after a day of talks at the exclusive Jerudong Polo Club on Brunei's northern coast, included calls for a new round of world trade talks, ongoing efforts to reinforce international financial markets, a strategy to harness the forces of technology and the need for stability in world oil prices.

Mr Tung said leaders of APEC's 21 economies had decided that there was a need to launch a new round of WTO talks for the benefit of all WTO economies, in particular least-developed and developing economies.

"We agreed that a balanced and broad-based agenda should be finalised within 2001 and that a new round of multi-lateral talks under the WTO should be launched in 2001," said Mr Tung.

"For decades, Hong Kong has prospered through the expansion in global trade. If we succeed in pushing further trade liberalization on the multi-lateral front through APEC, Hong Kong stands to gain.

"Our colleagues responsible for Hong Kong's trade negotiations will work with our international partners to play our part in this process."

Mr Tung said APEC Leaders had resolved to continue working in international forums to help shape the global economy and to provide a more secure and stable financial environment for developed and developing countries.

He said Hong Kong would continue to play a role internationally, through groups such as the Financial Stability Forum.

The Chief Executive said APEC Leaders were determined to ensure that all economies could use technology as a 'passport to prosperity' and to significantly widen community access to the Internet.

"In Hong Kong, the IT sector has undergone very rapid growth. The government will soon launch the Electronic Services Delivery scheme," he said.

"Our Cyberport and Science Park facilities have been taken up rapidly. We have also launched the Growth Enterprise Market.

"In my last Policy Address, I announced measures to bridge the digital divide by providing needy students with computers.

"So, Hong Kong's strategy for embracing the New Economy has been set."

In Canada, the Director of Hong Kong Economic and Trade Office, Mrs Rosanna Ure, said not only Hong Kong and Canada were members of APEC, the two economies were partners on the cultural, economic and social fronts.

In 1998, the Hong Kong and Canadian governments signed a Memorandum of Understanding (MOU) on Information and Telecommunications Technologies to further boost collaboration.

During a visit to Ottawa last month, the Secretary for Information Technology and Broadcasting, Mrs Carrie Yau, met the then Minister of Industry, Mr John Manley, to discuss IT cooperation. Both sides expressed keen interest to pursue more collaborative activities mandated under the MOU.

Mrs Ure said: "Being a strategic partner creates a win-win situation for all concerned in the fast-developing Asian IT and telecommunications sectors."

Mr Tung said leaders had also noted the risks posed by volatility in the oil markets and called for co-operation within APEC to help reduce vulnerability and promote market stability.

He said international oil prices would continue to be closely monitored in Hong Kong.

Mr Tung thanked the government and people of Brunei for their warm welcome and hospitality during this year's APEC meetings.

For further information please contact Chief Information Officer, Jean Chan [email protected].

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