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FRIDAY, APRIL 19, 1985
HONG KONG GETS FINNISH GSP
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MR JERMU LAINE, THE FINNISH MINISTER OF FOREIGN TRADE, WHO IS CURRENTLY ON AN OFFICIAL VISIT TO HONG KONG, HAS REVEALED THAT HIS GOVERNMENT IS TO INCLUDE HONG KONG AS A BENEFICIARY OF FINLAND'S GENERALISED SYSTEM OF PREFERENCES (GSP).
THE MOVE, WHICH IS SEEN AS A SIGNIFICANT BREAK THROUGH IN BILATERAL TRADE RELATIONS, WILL COME INTO FORCE WITH EFFECT FROM MAY 1, 1985. IT WILL MEAN THAT HONG KONG GOODS ARE GRANTED TOTAL EXEMPTION FROM IMPORT DUTIES AND LEVIES, UNLIMITED BY ANY TARIFF QUOTAS OR SIMILAR RESTRICTIONS.
THE DECISION TO EXTEND ELIGIBILITY FOR GSP TO HONG KONG COMES AGAINST THE BACKGROUND OF RAPIDLY GROWING BILATERAL TRADE. IN 1984, TWO-WAY TRADE EXPANDED BY 60 PER CENT TO HK$691 MILLION, WITH HONG KONG'S IMPORTS OF FINNISH PRODUCTS RISING BY 115 PER CENT TO HK$357 MILLION, LARGELY THANKS TO A REMARKABLE 582 PER CENT INCREASE IN PURCHASES OF FURSKINS.
HONG KONG'S EXPORTS TO FINLAND ALSO ROSE STRONGLY, BY 24 PER CENT TO HK$300 MILLION, WHILE RE-EXPORTS INCREASED BY 33 PER CENT TO NEARLY HK$34 MILLION DURING THE YEAR.
MINISTER LAINE SAID THAT THIS HIGHLY POSITIVE GROWTH IN TRADE HAD BEEN +LARGELY DUE TO THE EFFORTS OF HONG KONG TRADE DEVELOPMENT COUNCIL AND ITS CLOSE COOPERATIVE RELATIONSHIP WITH FINNISH FOREIGN TRADE ASSOCIATION IN RECENT YEARS+. HE ALSO STRESSED THAT THE APPOINTMENT OF A PROMINENT LOCAL BUSINESSMAN, MR W.H. CHOU OF WINSOR INDUSTRIAL CORPORATION, AS FINLAND'S HONORARY CONSUL IN HONG KONG HAD BEEN IMPORTANT IN STIMULATING INCREASED TRADE TIES.
MINISTER LAINE NOTED THAT THE TDC'S ACTIVITIES IN FINLAND HAD HELPED TO PROMOTE A GROWING AWARENESS OF HONG KONG BOTH AS A RELIABLE SOURCE OF A WIDE RANGE OF HIGH QUALITY PRODUCTS AND, AT THE SAME TIME, AS AN ATTRACTIVE MARKET.
THE TDC HAS BEEN PLACING GREATER PRIORITY ON DEVELOPING BILATERAL BUSINESS IN THE PAST TWO YEARS AND THE COUNCIL'S STOCKHOLM OFFICE HAS STEPPED UP ITS ACTIVITIES IN THAT MARKET.
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