WEDNESDAY, JANUARY 15, 1986
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HONG KONG VOICES C.CERN OVER U.S. GSP MOVE
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THE GOVERNMENT TOLD A GROUP OF VISITING AMERICAN SENATORS TODAY THAT IT IS DEEPLY CONCERNED ABOUT PROPOSALS TO EXCLUDE HONG KONG FROM THE UNITED STATES GENERAL ISED SCHEME OF PREFERENCES (GSP).
A GROUP OF GOVERNMENT OFFICIALS LED BY THE FINANCIAL SECRETARY SIR JOHN BREMRIDGE, HELD TALKS THIS MORNING WITH THE U.S. DELEGATION HEADED BY SENATOR JOHN DANFORTH. OTHER MEMBERS OF THE GOVERNMENT TEAM INCLUDED THE SECRETARY FOR TRADE AND INDUSTRY, MR E.P. HO, AND THE DIRECTOR OF TRADE, MR HAMISH MACLEOD.
A GOVERNMENT SPOKESMAN SAID THE OFFICIALS EXPRESSED CONCERN ABOUT PROPOSALS IN THE TRADE ENHANCEMENT ACT OF 1985 WHICH MIGHT RESULT IN THE EXCLUSION OF HONG KONG FROM THE U.S. GSP.
MR DANFORTH AND ANOTHER MEMBER OF THE VISITING DELEGATION,
MR MAX BAUCUS, ARE CO-SPONSORS OF THE ACT,
IT WAS STRESSED THAT HONG KONG IS FIRMLY COMMITTED TO AN OPEN MARKET POLICY. THE TERRITORY ACCORDS TARIFF-FREE TREATMENT TO ALL U.S. IMPORTS, AND INDEED TO IMPORTS FROM ALL OVER THE WORLD. THE UNITED STATES SHOULD TAKE THIS IMPORTANT FACTOR INTO ACCOUNT. U.S. IMPORTS INTO HONG KONG AMOUNTED TO US$3.1 BILLION IN 1984.
ABOUT 16 PER CENT OF THE UNITED STATES' TOTAL IMPORTS FROM HONG KONG, REPRESENTING US$1 326 MILLION, ENTERED DUTY FREE IN 1984.
THE OFFICIAL ALSO POINTED OUT THAT ONLY ABOUT FOUR PER CENT OF TOTAL U.S. IMPORTS ENTERED DUTY FREE SO THAT EVEN IF SOME BENEFICIARY COUNTRIES ARE EXCLUDED THE BENEFITS TO THE UNITED STATES WILL BE MINIMAL AND IT WILL IN NO WAY HELP TO SOLVE THE COUNTRY'S DEFICIT PROBLEMS.
APART FROM THE GSP ISSUE. THE OFFICIALS ALSO REITERATED THE IR STRONG OPPOSITION TO THE PROTECTIONIST JENKINS BILL WHICH SEEKS TO CURB HONG KONG'S TEXTILE EXPORTS TO THE UNITED STATES.
THE TWO SIDES ALSO DISCUSSED THE NEED TO GAIN GREATER ACCESS TO THE JAPANESE MARKET.
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