TUESDAY, AUGUST 5, 1986
GERMAN COMPANIES TOLD OF SCOPE FOR TRADE
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HONG KONG OFFERS AN IDEAL OFF-SHORE MANUFACTURING BASE FOR GERMAN COMPANIES TO EXPAND THE IR COVERAGE OF WORLD MARKETS, OR EVEN TO HELP KEEP THE IR PRODUCTS COMPETITIVE IN THESE MARKETS.
THE SECRETARY FOR TRADE AND INDUSTRY, MR E.P. HO, SAID THIS WHEN ADDRESSING A LUNCHEON HOSTED BY THE BADEN-WUERTTEMBERGISCHE BANK IN STUTTGART, FEDERAL REPUBLIC OF GERMANY, TODAY (TUESDAY).
HE SAID THAT ALTHOUGH THE LEVEL OF GERMAN INDUSTRIAL INVESTMENT IN HONG KONG WAS RATHER SMALL, ABOUT ONE PER CENT OF ALL OVERSEAS INVESTMENT IN THE TERRITORY, THERE WAS AMPLE SCOPE FOR MORE GERMAN MANUFACTURERS TO EXPAND THE IR PRODUCTION.
HE NOTED THAT DIRECT GERMAN INVESTMENT SO FAR ONLY AMOUNTED TO ABOUT US$15,9 MILLION, MOSTLY IN ELECTRICAL PRODUCTS, METAL PRODUCTS AND GARMENTS.
+HONG KONG ALSO OFFERS AN EXCELLENT ENVIRONMENT FOR THE OVERSEAS INVESTOR BY PROVIDING EFFICIENT COMMUNICATIONS AND A GOOD ECONOMIC INFRASTRUCTURE, AN INDUSTRIOUS AND ADAPTABLE WORKFORCE, A LOW TAX REGIME AND A WELL ESTABLISHED LEGAL SYSTEM,+ HE SAID.
+THIS IS ESPECIALLY SO NOW THAT THE SINO-BRITISH JOINT DECLARATION ON HONG KONG'S FUTURE IS IN PLACE. THIS, AMONG OTHER THINGS, PROVIDES FOR THE CONTINUATION OF THOSE ELEMENTS WHICH ARE ESSENTIAL TO HONG KONG'S SUCCESS.
+THAT HONG KONG HAS BECOME THE 91ST CONTRACTING PARTY TO THE GATT ALSO CONTRIBUTES TOWARDS ITS CONTINUING STABILITY AND PROSPERITY.
+WITH THE OPENING UP OF CHINA'S ECONOMY, HONG KONG AS A GATEWAY TO CHINA IS NOW AN IMPORTANT ELEMENT IN THE DEVELOPMENT OF HONG KONG-GERMANY TRADE AND INVESTMENT.+
MR HO SAID GERMANY WAS THE LARGEST EUROPEAN CUSTOMER FOR HONG KONG'S EXPORTS, TAKING DM3 015 MILLION WORTH IN 1985, AND WAS ALSO A MAJOR SUPPLIER, SELLING HONG KONG DM2 525 MILLION WORTH.
+NONETHELESS, HONG KONG PROVIDES A GOOD MARKET FOR GERMAN GOODS AND, ON A PER CAPITA BASIS, IMPORTS FROM GERMANY 10 TIMES AS MUCH AS GERMANY IMPORTS FROM HONG KONG.+
HE EXPLAINED THAT HONG KONG PRACTISED FREE TRADE AND OPENED ITS MARKETS TO ALL.
+WE HAVE NO TARIFF OR NON-TAR IFF BARRIERS TO IMPORTS, AND COMPETITION IN HONG KONG IS FREE AND FAIR.
/+WE ACCEPT