TUESDAY, MARCH 1, 1988
HONG KONG HAS FOURFOLD ATTRACTION TO BUSINESS
HONG KONG'S SENIOR REPRESENTATIVE IN NORTH AMERICA TODAY (TUESDAY, OTTAWA TIME) GAVE A CANADIAN AUDIENCE FOUR REASONS ON TOP OF ITS FREE TRADING STATUS WHY THE TERRITORY CONTINUED TO ATTRACT FOREIGN BUSINESSMEN,
SPEAKING AT A SEMINAR ORGANISED BY THE HONG KONG/CANADA BUSINESS ASSOCIATION IN OTTAWA, THE MINISTER FOR HONG KONG ECONOMIC AND TRADE AFFAIRS, MR PETER LO CITED HONG KONG'S GROWING ROLE AS A MARKET IN ITS OWN RIGHT; AS A LOCATION FOR MANUFACTURING COMPETITIVE PRODUCTS; AS A GATEWAY TO THE POTENTIALLY VAST ECONOMY OF CHINA: AND AS A BASE FROM WHICH TO DO BUSINESS WITH THE ASIA-PACIFIC REGION AS A WHOLE.
HE NOTED THAT IMPORTS FROM CANADA LAST YEAR INCREASED BY 39 PER CENT TO C$923 MILLION, WHILE EXPORTS TO CANADA ROSE BY 16 PER CENT TO C$396 MILLION. SOME 400 CANADIAN COMPANIES HAVE BUSINESS INTERESTS IN HONG KONG AND MOST OF CANADA'S MAJOR BANKS HAVE LOCATED THEIR REGIONAL HEADQUARTERS HERE.
IS IDEAL, HE SAID. "WE HAVE
"OUR GEOGRAPHICAL POSITION EXCELLENT TRANSPORT AND TELECOMMUNICATION LINKS. WE HAVE ONE OF THE WORLD'S BUSIEST CONTAINER PORTS. WE ARE IN MANY WAYS A SERVICES CENTRE, IN PARTICULAR A FINANCIAL CENTRE, FOR THE REGION.'
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MR LO SAID THE TERMS OF THE SINO-BRITISH DECLARATION ON HONG KONG'S FUTURE HAD PROVED REASSURING TO BUSINESSMEN, ALLOWING FOR BUSINESS TO CONTINUE "JUST AS IT DOES TODAY”.
ALREADY HONG KONG HAD BECOME A SEPARATE CONTRACTING PARTY TO GATT, A SEPARATE MEMBER OF THE CUSTOMS CO-OPERATION COUNCIL, HAD BEGUN NEGOTIATING ITS OWN AIR SERVICES AGREEMENTS, AND WAS SETTING UP ITS OWN SHIPPING REGISTER.
"ALL OF THESE ACHIEVEMENTS IN TRADE AND COMMUNICATIONS ARE, OF COURSE, VITAL TO UNDERPIN ONE OF THE MOST IMPORTANT OBJECTIVES OF THE JOINT DECLARATION THAT HONG KONG SHOULD MAINTAIN ITS INTERNATIONAL LINKS AND ITS OWN IDENTITY, ' HE SAID.
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"THEY ARE THEREFORE IMPORTANT TO THE HIS DEALINGS WITH HONG KONG.
BUSINESSMAN
CONSIDERING
MR LO SAID HONG KONG'S RECENT DECISIONS 'ON THE FURTHER DEVELOPMENT OF REPRESENTATIVE GOVERNMENT PROVIDED A FIRM BASIS FOR MAINTAINING HONG KONG'S HIGH DEGREE OF AUTONOMY AFTER THE TRANSITION IN 1997.
WHILE THERE WERE BOUND TO BE WORRIES ABOUT THE FUTURE, MR LO REFUTED SUGGESTIONS THAT HONG KONG WAS FACING "MASS EMIGRATION",
HE SAID A SIGNIFICANT NUMBER OF THOSE EMIGRATING DID SO TO OBTAIN AN INSURANCE POLICY IN THE FORM OF A NEW NATIONALITY SO AS TO "RETURN TO THEIR OWN CULTURE WITH AN INCREASED PEACE OF MIND".
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