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The China―Hong Kong Closer Economic Partnership Arrangement Revisited

The China―Hong Kong Closer Economic Partnership Arrangement Revisited The Mainland China and Hong Kong Closer Economic Partnership Arrangement (CEPA) was entered into on 30 June 2003, which marked the visit of Chinese Premier Wen Jiabao to the Territory.1 The prevailing view in the Territory is that the CEPA is a gift from the Central Government of China to Hong Kong.2 A number of issues, however, must be resolved in order to make it function effectively. I. COMPLIANCE WITH WTO PRINCIPLES The World Trade Organization does not prohibit the establishment of free trade zones or any other arrangement that will give greater market access or encourage liberalization of trade.3 Therefore, the compliance of the CEPA with the WTO both in spirit and in principle is beyond doubt. It is consistent with the spirit of the WTO because the WTO considers that it is its duty to promote the liberalization of trade. It is consistent with the principles of the WTO because the General Agreement on Tariffs and Trade (GATT) so provides. GATT Article �cxlv(3) stipulates in relevant part: "The provisions of this Agreement shall not be construed to prevent: (a) Advantages accorded by any contracting party to adjacent countries in order to facilitate frontier traffic; ..." GATT http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

The China―Hong Kong Closer Economic Partnership Arrangement Revisited

Journal of World Investment and Trade , Volume 5 (1): 9 – Jan 1, 2004

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190004X00353
Publisher site
See Article on Publisher Site

Abstract

The Mainland China and Hong Kong Closer Economic Partnership Arrangement (CEPA) was entered into on 30 June 2003, which marked the visit of Chinese Premier Wen Jiabao to the Territory.1 The prevailing view in the Territory is that the CEPA is a gift from the Central Government of China to Hong Kong.2 A number of issues, however, must be resolved in order to make it function effectively. I. COMPLIANCE WITH WTO PRINCIPLES The World Trade Organization does not prohibit the establishment of free trade zones or any other arrangement that will give greater market access or encourage liberalization of trade.3 Therefore, the compliance of the CEPA with the WTO both in spirit and in principle is beyond doubt. It is consistent with the spirit of the WTO because the WTO considers that it is its duty to promote the liberalization of trade. It is consistent with the principles of the WTO because the General Agreement on Tariffs and Trade (GATT) so provides. GATT Article �cxlv(3) stipulates in relevant part: "The provisions of this Agreement shall not be construed to prevent: (a) Advantages accorded by any contracting party to adjacent countries in order to facilitate frontier traffic; ..." GATT

Journal

Journal of World Investment and TradeBrill

Published: Jan 1, 2004

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