|
See also:
|
The third Trade Policy Review of Macao, China has been thorough and
informative and has given us a better understanding of the trade
policies and practices of the Macao Special Administrative Region (MSAR)
together with the challenges that it faces. I thank Mr Tam Pak Yuen
and his delegation as well as the Discussant, Mr Paulo Estivallet de
Mesquita of Brazil, and Members of the TPRB for contributing to our
fruitful exchange of views. The reports by the Macao, China
authorities and the Secretariat, as well as the detailed responses of
the delegation of Macao, China to the many questions posed, have
provided a valuable resource for domestic reflection and for
transparency within the WTO.
Members noted that Macao, China continues to be open towards trade and
investment. Since the last Trade Policy Review, its economy has grown
rapidly as a result of sound economic policies, liberalization of the
gaming sector and a favourable external environment. The MSAR is
essentially a free port that imposes no tariffs and few non-tariff
border measures and has no contingency measures in place. While
Members appreciated the absence of trade restrictive measures, they
noted that the scope of MSAR's tariff bindings remains low. They urged
Macao, China to expand bindings coverage notably in the context of the
DDA negotiations and the authorities have indicated a willingness to
do so. Members also noted that a number of services sectors have been
liberalized, notably gaming and mobile telephony, and in the context
of the DDA, Macao, China's revised GATS offer can be considered
relatively comprehensive. Regarding the investment regime, given the
low rates of tax on company profits and the non-discriminatory
treatment of foreign investors, Macao, China is widely regarded as an
attractive investment destination.
Members welcomed Macao, China's active and constructive role in the
WTO and its contribution to the DDA negotiations and its commitment to
the primacy of the rules-based multilateral trading system. They also
noted the current and potential benefits from the Closer Economic
Partnership Arrangement (CEPA) with the Mainland in terms of both the
opportunities for at least partial diversification of economic
activities and for ensuring a steady and expanding flow of visitors
and tourists to Macao, China, mainly as a result of the Individual
Traveller Scheme.
Members noted the MSAR's steady and consistent improvements in the
protection of intellectual property rights, but welcomed further
efforts to strengthen transparency, the legal framework as well as
enforcement in matters relating in particular to signal, software and
optical disc piracy. Members also appreciated the recent legislation
that was passed targeting money laundering activities and a Member
enquired about any plans to improve anti-corruption legislation in the
private sector.
Some Members noted the lack of a comprehensive competition policy law
to address, for example, the activities of private companies with
exclusive rights under government concessions and consumer protection.
Some Members encouraged Macao, China to further open its government
procurement system and encouraged the authorities to consider joining
the GPA. Attention was also drawn to an apparent lack of transparency
in certain areas such as land allocation and to difficult challenges
in terms of infrastructure development. The question was raised as to
whether MSAR legislation gives the Chief Executive the authority to
provide export subsidies. Concerning sustainable development, a Member
emphasised the need for Macao, China to strike a careful balance
between economic growth and social development.
Members noted that the MSAR has become increasingly a
services-oriented economy focused on tourism and commended the
initiatives of the authorities to transform Macao, China from a gaming
destination into a regional hub for meetings, incentives, conventions
and exhibitions.
This Review has been very useful in giving us all an overview of
Macao, China's trade policies and practices and the challenges it
faces. I would once again like to thank the Macao, China delegation
for their efforts, the Discussant for his insightful comments, and
Members for contributing to what has been an enlightening two days of
discussions. We look forward to receiving the remaining outstanding
responses as soon as possible.
|
> Problems viewing this page?
Please contact webmaster@wto.org giving details of the operating system and web browser you are using.
|
