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Developing trade
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Without doubt, one of the key factors con- tributing to Hong Kong's impressive ex- port figures is the work of the Hong Kong Trade Development Council (TDC). Since it was established in 1966, this statutory body has secured a reputation as an aggres- sive, imaginative and effective promoter of goods made in Hong Kong. Its work has paralleled the growth of the territory's domestic exports which were valued at $35,438 million in the 1977-8 financial year. Hong Kong's most important export industry, by far, is clothing, and this is emphasised by the TDC's annual fashion spectacular, the Ready-to-Wear Festival. In 1978, more than 5,400 buyers attended the seven-day festival. Another major func- tion organised by the TDC is the Hong Kong Toy and Gift Fair which attracted nearly 4,000 buyers in 1978. The functions of the TDC include assisting companies to promote their products at international fairs, organising trade missions and intro- ducing potential buyers to manufacturers. During 1978, significant projects were a trade mission to Central and South America and, in association with the Trade Industry and Customs Department, an economic mission to Japan. Besides its headquarters, the TDC maintains 17 offices overseas and works to improve trade with countries which are either established or new cus- tomers of Hong Kong. While the territory's main markets are Western Europe and North America, the TDC is stressing the potential of smaller markets and the need for product diversification owing to in- creasing protectionism in some countries.
Previous page: The Ready-to-Wear Festi- val puts the spotlight on Hong Kong's high quality fashion and production capabilities. Left: The Trade Development Council's executive director and staff members inspect a model of the display unit designed for Caracas, Venezuela; a wide variety of Hong Kong goods was exhibited; a fine dragon was used in the promotion at Caracas.
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