TUESDAY, JUNE 11, 1985
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HE SAID IT IS EXPECTED THAT THIS NEW SUPPORT WILL ENSURE THAT THE MTRC MAINTAIN THE CONFIDENCE OF THE FINANCIAL COMMUNITY WHICH IT HAS ALWAYS ENJOYED.+
BASED ON A PASSENGERS-PER-ROUTE KILOMETER MEASURE THE MTR IS THE MOST DENSELY UTILISED URBAN MASS TRANSIT RAILWAY IN THE WORLD, HE SAID.
IT WAS THE ONLY MASS TRANSIT SYSTEM WHOSE UNSUBSIDISED FARE REVENUES WERE SUFFICIENT TO COVER ALL COSTS, INCLUDING DEPRECIATION, PLUS A USEFUL OPERATING PROFIT MARGIN.
FRANCE URGED TO REMOVE TRADE RESTRICTIONS
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THE SECRETARY FOR TRADE AND INDUSTRY, MR E.P. HO, TODAY (TUESDAY) URGED FRENCH BUSINESSMEN TO REFLECT TO THEIR GOVERNMENT THE IMPORTANCE HONG KONG ATTACHES TO THE REMOVAL OF ALL RESIDUAL RESTRICTIONS ON ITS PRODUCTS.
HE SAID THE REMOVAL OF RESIDUAL AND DISCRIMINATORY RESTRICTIONS AGAINST HONG KONG COULD ONLY INCREASE THE FUND OF GOODWILL FOR FRANCE, AND SHOULD CONTRIBUTE TO EVEN MORE BUSINESS,
MR HO MADE THESE REMARKS WHEN HE ADDRESSED A GROUP OF FRENCH BUSINESSMEN AT A DINNER MEETING ORGANISED BY THE FRENCH TRADE COMMISSIONER AT THE REGAL MERIDIAN HOTEL.
MR HO SAID: +HONG KONG LIVES ON TRADE AND OBSERVES SCRUPULOUSLY THE PRINCIPLES OF THE GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT), INCLUDING THE PROHIBITION OF QUANTITATIVE RESTRICTIONS ON IMPORTS. IT IS THEREFORE DISHEARTENING TO SEE THAT SOME OF OUR TRADING PARTNERS ARE NOT RECIPROCATING OUR FREE TRADE PRACTICES.+
HONG KONG'S THREE MAJOR EXPORTS TO FRANCE ARE CLOTHING, WATCHES AND TOYS, ALL SUBJECT TO RESTRICTIONS OF ONE FORM OR ANOTHER.
ON CLOTHING, MR HO SAID HE HAD RECENTLY VISITED A NUMBER OF EUROPEAN CAPITALS INCLUDING PARIS AND HAD URGED MINISTERS THERE TO SERIOUSLY CONSIDER THE OPTION OF FULL LIBERALISATION WHEN THE MFA EXPIRES IN JULY NEXT YEAR.
ON WATCHES, MR HO POINTED OUT THAT HONG KONG'S EXPORTS OF DIGITAL WATCHES TO FRANCE HAD BEEN INCREASING UNTIL 1981 WHEN THE FRENCH GOVERNMENT IMPOSED A QUANTITATIVE RESTRICTION ON THESE PRODUCTS CONTRARY TO THE PROVISIONS OF THE GATT.
/HE SAID