Question:
Suggested Answer:
Question:
Suggested #Answer:
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What does the Minister think of the prospects for
Hong Kong's economy and external trade?
Prospects for Hong Kong's economy depend on overseas
demand for Hong Kong's exports, especially from North
America and Western Europe, where Hong Kong has its
largest markets.
So far as external trade is concerned, Hong Kong's
competitive position has been maintained and as a
result Hong Kong is well paced to respond rapidly
to the upsurge in overseas demand when it occurs.
I understand that Hong Kong is energetically
examining and tapping new markets, and that, here at
home, you are making adjustments and are rethinking
your industrial policy and are preparing determinedly
for a comeback.
This is very sensible and tactical and I am sure
Hong Kong will get very satisfactory results when
the economic upturn acurs. It is hard to predict
when this will take place, but I am confident it will.
What does the Minister think of the likely effects
on Hong Kong of US Trade Act?
It is still too early to say what effects the new
་
Act
American Trade Act will have on Hong Kong's industry
and trade as full details of the Act are not yet
available.
However, as you are all aware, your Director of
Commerce and Industry stated recently that Hong Kong
intends to apply for beneficiary status to export, duty
free, certain products yet to be announced to the
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