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THURSDAY, DECEMBER 8, 1988
MR MACLEOD SAID THAT THE CHINA LINK WAS A KEY ELEMENT IN HONG KONG'S PROSPERITY,
SINCE 1978 HONG KONG-CHINA TRADE HAS INCREASED NEARLY 20 TIMES, TO US$26 BILLION IN 1987.
CHINA IS HONG KONG'S LARGEST TRADING PARTNER AND VICE VERSA, AND IS THE LARGEST SOURCE OF OVERSEAS INVESTMENT IN HONG KONG.
CANADA IS HONG KONG'S 13TH LARGEST TRADING PARTNER ACCOUNTING FOR 1.3 PER CENT OF THE TERRITORY'S TOTAL TRADE.
MR MACLEOD SAID THAT IN THE FIRST SEVEN MONTHS OF THIS YBAR HONG KONG'S IMPORTS FROM CANADA GREW BY 30 PER CENT OVER THE SAME PERIOD LAST YEAR.
DURING THE SAME PERIOD THE TERRITORY'S EXPORTS TO CANADA GREW BY SEVEN PER CENT.
SAID.
THERE WAS CONSIDERABLE SCOPE FOR GROWTH IN BILATERAL TRADE, HE
ON THE URUGUAY ROUND OF GATT TASKS MR MACLEOD SAID THAT HONG KONG WAS COMMITTED TO THE REINVIGORATION OF THE MULTILATERAL TRADING SYSTEM. THEREFORE IT WAS KEEN TO SEE THE ROUND SUCCEED.
"WE ADOPT A FREE TRADE, OPEN MARKET, NO
SUBSIDY
HE SAID.
PHILOSOPHY,
H
"ALTHOUGH WE ARE IN THE TOP EXPORTS, WE ARE EQUALLY AN IMPORTER HE ADDED.
—
DOZEN OR 30 IN THE WORLD IN OUR GLOBAL TRADE IS IN BALANCE, H
"OUR DEPENDENCE ON OVERSEAS TRADE MAKES US VULNERABLE ΤΟ PROTECTIONISM. HENCE THE IMPORTANCE WE PLACE ON THE GATT, AND ON THIS EFFORT TO BOTH IMPROVE THE RULES OF INTERNATIONAL TRADE AND THE SPIRIT THE WILLINGNESS TO OBSERVE THOSE RULES, MR MACLEOD SAID.
―
"KEY ISSUES FOR US INCLUDE TEXTILES, AND ROLLBACK, INTELLECTUAL PROPERTY AND CONCERNED AT ABUSES IN OTHER AREAS, SUCH AS RULES, HE ADDED.
"
"
SAFEGUARDS, STANDSTILL SERVICES. WE
ANTI-DUMPING
ARE ALSO AND ORIGIN
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