A GROUP of professionals spearheading an initiative to encourage the Clinton administration to deregulate the United States shipping market is seeking support from Hong Kong shipping interests.
The group comprises international trade lawyers Sheldon & Mak, London-based accountancy firm Moore Stephens, and Manchester Trade, an international trade consultancy.
''With deadlines for action taking place in September, growing participation in the coalition is now needed,'' the group said, adding that European and Asian shipping interests had an opportunity to come together to effect change.
As Hong Kong was at the forefront of international trade, the group hoped that shipping interests in the territory would support their lobbying efforts.
The group said its initiative was to support a preliminary report submitted by US Vice-President Al Gore's National Performance Review for the maritime industry which appears set to endorse legislation which would effectively deregulate the US maritime industry.
The deregulation move is seen as a radical policy shift as it will open US-flag trade to foreign-built and repaired carrier lines, foreign investors and foreign crews.
It also will cease operational subsidies after current contract expiry dates and separate national defence issues from industrial maritime issues.
