The effort to remove barriers to trade and investment has been a critical contributor to this region's economic growth. Trade and investment liberalisation - and greater integration into regional and global economic affairs - are very much in China's and Hong Kong's interests, and in the interests of Australia and other countries. It is the driving force behind the Asia-Pacific's economic dynamism.
At the regional level, we have already seen tremendous reductions in trade barriers, partly under the auspices of APEC. These have brought real benefits to Australia and its neighbours, including China and Hong Kong.
ASEAN, in particular, has cut applied tariffs on a trade-weighted basis by two-thirds a
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