SATURDAY, MARCH 21, 1987
CALL TO FIGHT AGAINST PROTECTIONISM
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HONG KONG CAN MEAN BIG BUSINESS FOR AMERICAN EXPORTERS } DIRECTOR OF HONG KONG ECONOMIC AFFAIRS, MR BILLY LAM, SAID IN SEATTLE YESTERDAY (FRIDAY).
SPEAKING BEFORE AN AUDIENCE OF BUSINESS EXECUTIVES AT A HALF-DAY SEMINAR ORGANISED BY THE WASHINGTON STATE CHINA RELATIONS COUNCIL IN CONJUNCTION WITH THE HONG KONG ECONOMIC AFFAIRS OFFICE, MR LAM SAID THAT BOTH THE STATE OF WASHINGTON AND HONG KONG DEPEND UPON TRADE FOR SURVIVAL.
+THE VALUE OF HONG KONG'S EXPORTS CONSISTENTLY STANDS AT SOME 170 TO 180 PER CENT OF ITS GDP, WHILE THE STATE OF WASHINGTON MAINTAINS A SIMILARLY HIGH RECORD EXPORTING 124 PER CENT OF ITS GDP THROUGH ITS PORTS, + MR LAM SAID.
+IT IS IN THE COMMON INTEREST OF BOTH WASHINGTON AND HONG KONG TO FIGHT AGAINST PROTECTIONIST LEGISLATION,+ MR LAM SAID, AND CALLED UPON THE WASHINGTON TRADING COMMUNITY TO CHALLENGE THE PROPOSED TEXTILE AND APPAREL TRADE ACT AND ANY OTHER LEGISLATION WHICH WOULD SERIOUSLY ENDANGER TRADE BETWEEN THE TWO PLACES.
+ HONG KONG IS ONE OF THE STRONGEST SUPPORTERS OF AND THE TRUEST PRACTITIONERS OF THE PRINCIPLES OF FREE TRADE. WE HAVE NO TARIFF OR NON-TARIFF BARRIERS AGAINST IMPORTS.+
HE BELIEVED WASHINGTON TOO, COULD IN NO WAY BENEFIT FROM FURTHER TRADE BARRIERS.
HONG KONG CURRENTLY RANKS SIXTH AMONG WASHINGTON'S TRADING PARTNERS, WITH EXPORTS TO HONG KONG FROM THE STATE RANGING FROM AVIATION (BOEING AIRPLANES) TO CIGARETTES, PAPER AND FOODSTUFFS, INCLUDING APPLES AND EXCELLENT NEW WINES.
*IMPORTS TO WASHINGTON FROM HONG KONG INCLUDE APPAREL, TOYS AND ELECTRONICS, + MR LAM POINTED OUT, ADDING THAT THERE IS A HEALTHY TWO-WAY TRADE BETWEEN THE TWO PLACES WHICH AMOUNTED TO US$1 367 MILLION IN 1935.
NOTING THAT WASHINGTON STATE IS ALREADY A MAJOR EXPORTER OF FARM PRODUCE TO HONG KONG, MR LAM STRESSED THAT THERE ARE STILL FURTHER OPPORTUNITIES FOR GROWTH AS THE TERRITORY HAS TO IMPORT ALMOST 30 PER CENT OF ITS FOOD.
*STATISTICS SHOW THAT EVERY MAN, WOMAN AND CHILD IN HONG KONG CONSUMES MORE THAN US$65 WORTH OF US FARM PRODUCTS EACH YEAR,+ MR LAM SAID.
/TURNING TO