#Economics #BasicLaw #WTO HK Secretary for Commerse makes a misguided comment, as history suggests otherwise
A Brief History of GATT and WTO:
Hong Kong acquired the membership of the General Agreement of Tariffs and Trade (#GATT) as a separate customs territory in 1986.
On 1 January 1995, the World Trade Organization (WTO) replaced the GATT, which had been in existence since 1947.
The governments that have had signed GATT were officially known as “GATT contracting parties”. Upon signing the new WTO agreements, they, including Hong Kong, officially became known as “WTO members”.
The Basic Law of Hong Kong Special Administration Region (HKSAR) was enacted in 1997. Article 116 of the Basic Law provides that HKSAR shall be a separate customs territory.
China became a WTO member on 11 December 2001.
Secretary for Commerce and Economic Development Edward Yau Tang-wah, however, claimed that China, which became a member of WTO only in 2001, had permitted Hong Kong to be a member of WTO in 1995 based on Basic Law, which took effect in 1997.
Source: Simon Lim Facebook #Aug16 #FakeNews
A Brief History of GATT and WTO:
Hong Kong acquired the membership of the General Agreement of Tariffs and Trade (#GATT) as a separate customs territory in 1986.
On 1 January 1995, the World Trade Organization (WTO) replaced the GATT, which had been in existence since 1947.
The governments that have had signed GATT were officially known as “GATT contracting parties”. Upon signing the new WTO agreements, they, including Hong Kong, officially became known as “WTO members”.
The Basic Law of Hong Kong Special Administration Region (HKSAR) was enacted in 1997. Article 116 of the Basic Law provides that HKSAR shall be a separate customs territory.
China became a WTO member on 11 December 2001.
Secretary for Commerce and Economic Development Edward Yau Tang-wah, however, claimed that China, which became a member of WTO only in 2001, had permitted Hong Kong to be a member of WTO in 1995 based on Basic Law, which took effect in 1997.
Source: Simon Lim Facebook #Aug16 #FakeNews
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Simon Lim
邱騰華：香港於世貿享有單獨關稅區的獨特地位，這身份是中國根據《基本法》賦予香港的。 我們考古一下。 香港於1986年成為「關稅及貿易總協定」的單獨締約成員。該協定於1995年演變成「世貿組織」，香港當時更順理成章，成為世貿的創始成員。 1997年，《基本法》生效。 2001年，中國加入世貿。...