WEDNESDAY. OCTOBER 4. 1989
SERVICES REPREVENT AREA OF GREAT EXPORT FOTENTIAL
IN THE REGION AND SERVICES REPRESENT
IN VIEW OF HONG KONG'S STRATEGIC LOCATION ITS EXCELLENT COMMUNICATION LINKS WITH THE WORLD. AN AREA OF GREAT EXPORT POTENTIAL. THE ACTING FINANCIAL SECRETARY. DAVID NENDICK, SAID TODAY (WEDNESDAY},
MP
TRADE IN SERVICES STILL "ALTHOUGH HONG KONG'S
LAGS BEHIND HAS BEEN MERCHANDISE TRADE IN VALUE TERMS, GROWTH IN THE PAST DECADE
GROWTH RATES FOR THE GREATER FHENOMENAL. WITH DOUBLE DIGIT ANNUAL FR OF THIS PERIOD," HE SAID.
OFFICIATING AT THE OPENING OF THE HONG KONG SEMINAR ON TRADE IN CENTRE THIS SERVICES HELD AT THE HONG KONG CONVENTION AND EXHIBITION
HAD MORE MORNING. MR NENDICK POINTED OUT THAT OUR EXPORT OF SERVICES
MARKET PRICES AND OUR THAN DOUBLED AT CONSTANT
IMPORTS INCREASED
THREE-FOLD.
THOSE
SERVICES COVER A WIDE RANGE OF IN BANKING. INSURANCE.
BUSINESS ACTIVITIES INCLUDING CONSTRUCTION. TRANSPORTATION.
COMMUNICATIONS,
ACCOUNTING,
ADVERTISING,
CONSULTANCY
AND
ENTERTAINMENT.
ACCORDING
TO THE LATEST
REPORT PUBLISHED BY THE GENERAL 18TH IN THE WORLD
AGREEMENT ON TARIFFS AND TRADE. HONG KONG RANKED LEAGUE OF COMMERCIAL SERVICES EXPORTERS LARGEST IMPORTER OF SUCH SERVICES IN THE
IN 1987 AND WAS THE 20TH SAME YEAR.
AVAILABLE. GROSS DOMESTIC OF THE AVERAGE FOR
WHICH DATA WAS IN 1987. THE MOST RECENT YEAR FOR
CONTRIBUTION TO
KONG'S THE SERVICES SECTOR'S
HONG PRODUCT WAS 65 PER CENT, AND THAT WAS IN EXCESS INDUSTRIAL COUNTRIES. MR NENDICK SAID.
CENT OF
"IN TERMS OF EMPLOYMENT, IT ACCOUNTED FOR SOME 58 PER
FIRST QUARTERS OF 1989." HE HONG KONG'S WORKING POPULATION IN THE ADDED.
"FOR 1988. THE TOTAL TRADE IN SERVICES AMOUNTED TO OVER
HE SAID. BILLION OR SOME 18 BILLION IN U.S. DOLLAR TERMS,
+
HK$141
"THIS ALL POINTS TO THE HEALTH OF THIS SECTOR MR NENDICK NOTED.
IN HONG KONG.
FF
GROWTH.
WORLD
TRADE
IN
HOWEVER, DESPITE ITS SPECTACULAR SERVICES WAS NOT WITHOUT ITS PROBLEMS. HE SAID.
"I AM SURE SOME OF YOU IN THE AUDIENCE TODAY BEING ABLE TO
PERSONALLY THE FRUSTRATION OF NOT MARKET BECAUSE OF OVER-REGULATION OR BECAUSE MARKET DENIED TO PROTECT LOCAL INTERESTS." HE SAID.
HAVE EXPERIENCED TAP AN ACCESS
OVERSEAS
HAS
BEEN
/WHILE IT