26
WEDNESDAY. NOVEMBER 15. 1989
HK SHOULD HAVE ROLE IN REGIONAL ECONOMIC CO-OPERATION
SHOULD HONG KONG. AS AN INTEGRAL PART OF THE REGIONAL ECONOMY.
IN REGIONAL ECONOMIC HAVE A CONTRIBUTION TO MAKE AND A ROLE TO PLAY
MICHAEL CO-OPERATION. THE DEPUTY SECRETARY FOR TRADE AND INDUSTRY. MR CARTLAND, SAID TODAY (WEDNESDAY).
MEETING SPEAKING AT THE SEVENTH
OF THE PACIFIC ECONOMIC MR CARTLAND CO-OPERATION CONFERENCE (PECC1 IN AUCKLAND, NEW ZEALAND.
THAT PECC WAS AN SAID HONG KONG BELIEVED
IMPORTANT PART OF THE AND. REGARDLESS OF REGIONAL ECONOMIC CO-OPERATION
HOW OTHER NEED COMPLEMENTARY DISCUSSIONS MIGHT DEVELOP, THERE WOULD ALWAYS BE A
FOR THE PROVIDED.
ACADEMIC VALUABLE
AND BUSINESS
CONTRIBUTION
"WE STAND
TO READY
PARTICIPATE
IN REGIONAL
THAT PECC
ECONOMIC
CO-OPERATION." HE SAID.
MR CARTLAND SAID HONG KONG HAD PARTICIPATED IN TASK FORCE AND ATTENDED THE MEETING AS GUEST OBSERVERS.
HE SAID HONG KONG'S MAIN INTEREST WAS IN THE AREA OF TRADE POLICY.
WORK
IN
THE
ACTIVITIES OF
PECC
AND
ECONOMY. IT "GIVEN HONG KONG'S EXTERNALLY-ORIENTED EXPORT-LED
HAVE A STRONG IS INEVITABLE THAT WE
INTEREST IN MAINTAINING STRENGTHENING THE OPEN WORLD TRADING SYSTEM, HE SAID.
HONG
TRADE IN 1988. AND MAKING HONG
MR CARTLAND SAID THE VALUE OF
KONG'S MERCHANDISE HAD GROWN RAPIDLY DURING THE 1980'S TO REACH US$127 BILLION REPRESENTING 2.2 PER CENT OF WORLD TRADE IN GOODS KONG THE 11TH LARGEST TRADING ECONOMY IN THE WORLD.
HAS, WE BELIEVE,
"A MAJOR DETERMINANT OF HONG KONG'S SUCCESS BEEN THE PURSUIT OF NON-INTERVENTIONIST FREE TRADE POLICIES.
NO BARRIERS "THERE ARE
то TRADE. NO TARIFF, NO EXCHANGE - CONTROLS: WE ARE OPEN TO INWARD AND OUTWARD INVESTMENT FLOWS AND
TRADE IN SERVICES. A COMPARATIVELY UNREGULATED ENVIRONMENT FOR SAID.
HAVE
14
HE
ΤΟ
ΤΟ THE FLEXIBLE MR CARTLAND SAID ALL OF THIS HAD CONTRIBUTED AND ADAPTABLE NATURE OF HONG KONG'S ECONOMY WHICH ADJUSTED READILY CHANGING CIRCUMSTANCES.
HE SAID HONG KONG'S ADJUSTMENT IN RESPONSE CURRENCY MOVEMENTS.
ΤΟ
ECONOMY WAS IN A CONTINUOUS
MARKET DEVELOPMENTS. COST
STATE FACTORS
OF
AND
"IT HAS DEMONSTRATED AN ABILITY TO DEVELOP COMPLEMENTARITIES AND A DEGREE OF INTER-DEPENDENCE WITH OTHER ECONOMIES TO OF THE REGION AS A WHOLE." HE SAID.
THE BENEFIT
/"AS MUCH
E