HR BUSINES
HK APPEALS
STANDARD
TO EEC FOR
REVIEW OF
STATUS IN
GSP SCHEME
THE HONGKONG Economic Association yesterday issued Las appeal to the Common Market Government 19 seriously examine Hongkong's status within the EEC generalised system of preferences.
The appeal, issued as
а
statement by Mr Ronald Hsia, the association's president, stressed that the EEC in excluding Hongkong from the scheme in connection with textiles and footwear was in effect going counter to the purpose of The scheme. The basic purpose of the preference scheme, Mr Hsia said, is to provide better export opportunities to developing countries so as to reduce the income gap between developed and developing countries. "The standard of living in
Hongkong is still
long way
behind that of developed countries and its economic problems were similar to, and in some respects more serious than, those of other developing countries. "There is no justification for excluding Hongkong's exports of textiles and footwear from the GSP of the EEC," Mr Hsia said. He pointed out the problem 13 now more serious with the alignment
of British preference scheme with that of the original six EEC members.
Britain has been according preference to Hongkong for many years under Commonwealth preference and the change in British general scheme of preference will probably mean that Hongkong would lose her preference in the British market in respect to textiles and footwear while non-Commonwealth countries would get benefit, Mr Hsia stressed. The Hongkong Economic Association considers, that preference, if granted, should be applied to developing countries.
the