1
5
THURSDAY, OCTOBER 26, 1989
MR LEUNG SAID AS THE BEC
A'COUNTING FOR 20 PER CENT OF
WAS THE ALL. WORLD
WORLD'S LARGEST EXPORTER, TRADE, HE HAD REASON TO ESSENTIALLY AN OPEN MARKET
BELIEVE THAT THE COMMUNITY WOULD REMAIN INSTEAD OF DEVELOPING INTO A "FORTRESS EUROPE",
MR
COMMISSION
QUOTING A REPORT RELEASED LAST YEAR BY THE EUROPEAN
OF THE BENEFITS
INTERNAL MARKET, ON THE ECONOMIC
LEUNG SAID
THAT THE
OF
THE INTERNAL ECONOMISTS BELIEVED
FRONTIERS, OF TECHNICAL TRADE OPENING OF MARKETS TO COMPETITION, THE ABOLITION
FINANCIAL MARKETS
GREATLY WOULD BARRIERS, AND THE ENHANCE THE COMMUNITY'S ECONOMIC PERFORMANCE.
REMOVAL.
OF INTEGRATION
A
MIGHT BE (EUROPEAN CURRENCY
ECONOMISTS OF THE COMMISSION PREDICTED THAT THERE ONE-OFF GAIN OF BETWEEN 170 AND 250 ECU BILLION UNIT) ARISING FROM ECONOMIES OF SCALE, COST BENEFITS AND COMPETITION.
EUROPEAN MARKET MR LEUNG SAID THE COMPLETION OF AN INTEGRATED
TRADING BLOC IN THE OF 320 MILLION PEOPLE WOULD CREATE THE LARGEST WORLD, RIVALLING THE ECONOMIC STRENGTH OF THE UNITED STATES AND JAPAN.
FAR-REACHING HE SAID THIS DEVELOPMENT MIGHT HAVE FOR HONG KONG'S MERCHANDISE TRADE WITH THE COMMUNITY.
IMPLICATIONS
TRADE DEMAND A
WILL ARISE FROM FREE SHOULD LEAD EEC CONSUMERS ΤΟ
"THE INCREASED COMPETITION THAT AMONG MEMBER STATES (MSS) HIGHER QUALITY/PRICE RATIO,
"EEC MANUFACTURERS, THEREFORE, WOULD BE UNDER PRESSURE TO
SUPPLIES, WHETHER COMPONENT PARTS OR IVEN MORE COMPETITIVE FRODUCTS.
"SOME COULD WELL BE MORE DISPOSED TO LOOK BEYOND THEIR TO THE REST OF THE WORLD, PARTICULARLY THE ASIA PACIFIC REGION, HONG KONG OCCUPIES A PIVOTAL POSITION," MR LEUNG SAID.
THE
MORE
SEEK FINAL
BORDERS WHERE
OF
*THE WHICH
HE ADDED THAT
GROWTH BUOYANT ECONOMIC COMMUNITY MIGHT ENABLE IT TO ADOPT A MORE LIBERAL TRADE POLICY, SHOULD BENEFIT HONG KONG'S EXPORT-ORIENTED ECONOMY.
THE ELIMINATION OTHER ADVANTAGES TO BE BROUGHT ABOUT INCLUDED
PAPERWORK, THE REMOVAL OF OF CUMBERSOME ADMINISTRATIVE AND CUSTOMS
REGIONAL LIMITS FOR QUOTAS ON TEXTILES AND FRONTIER CONTROL AND
RELAT ING CLOTHING AS WELL AS THE HARMONISATION OF TECHNICAL STANDARDS TO QUALITY, HEALTH, SAFETY AND ENVIRONMENTAL ASPECTS OF GOODS.
MR LEUNG BELIEVED ALL THESE
NEW ARRANGEMENTS
MARKET OPPORTUNITIES FOR EXPORTS TO THE COMMUNITY,
TALKING ABOUT THE DISADVANTAGES
SHOULD IMPROVE
ARISE, MR LEUNG MIGHT LEAD TO
WITHIN
THE
THE
THAT MIGHT COMPETITION
KAID HE WORRIED THAT INCREASED INTENSIFICATION OF PROTECTIONIST PRESSURE FROM INDUSTRIES EEC. INCLUDING THE DEMAND FOR PRODUCTION SUBSIDIES.
/ANOTHER WORRY