FINANCIAL Secretary Sir Hamish Macleod has urged regional governments to exercise the political courage necessary to liberalise trade through the Asia-Pacific Economic Co-operation (APEC) forum.
Sir Hamish, speaking at a lunch meeting of the Indian Chamber of Commerce, also said APEC would enable Hong Kong to maintain its place as the business hub of the region.
The forum aims to establish free trade by removing trade and investment barriers and pushing towards greater regional co-operation.
Twelve of the territory's 20 largest trading partners are in APEC and account for about 80 per cent of Hong Kong's trade.
Sir Hamish said: 'Members of APEC are in a position to lead the world in global liberalisation because we have something very important in common: we are all growing, all successful.
'This gives us greater self-confidence than many other economies elsewhere in the world, where unemployment is high and fears of competition and protectionist forces are becoming more and more evident.