TUESDAY, MARCH 27, 1990
++
AND
WITH SUCH GUARANTEED PROTECTION FROM FOREIGN COMPETITION, GIVEN THE EXPERIENCE OF THE MFA, IS IT REALISTIC TO EXPECT THAT THE DOMESTIC INDUSTRIES OF IMPORTING COUNTRIES WOULD BE WILLING ΤΟ SEE THE GLOBAL QUOTAS REMOVED AFTER THE TRANSITION PERIOD?" HE ASKED.
THIRDLY, HE SAID, GLOBAL QUOTAS MEANT THAT EXPORTING COUNTRIES WOULD BE LOSING THEIR RIGHT OF EXPORT CONTROL EITHER IMMEDIATELY (ACCORDING ΤΟ CANADA'S PROPOSAL} OR GRADUALLY OVER 10 YEARS (ACCORDING TO THE U.S. PROPOSAL).
NOTING THAT EXPORTING COUNTRIES HAD BEEN ABLE TO MAXIMISE UTILISATION OF THE LIMITED QUOTA AVAILABLE TO THEM BY ADMINISTERING THAT QUOTA EFFICIENTLY, MR CHAU ASKED WHAT GUARANTEES THERE WERE FOR EXPORTING COUNTRIES THAT THE IMPORT QUOTAS WOULD BE UTILISED AS FULLY AS POSSIBLE.
"AND IS IT FAIR TO EXPECT EXPORTING COUNTRIES TO CONTINUE то ACCEPT RESTRAINTS ON THEIR TRADE, BUT AT THE SAME TIME TO GIVE UP EXPORT CONTROL, WHICH IS ONE OF THE FEW ADVANTAGES THEY HAVE UNDER THE MFA?" HE QUESTIONED.
MR CHAU SAID THE GLOBAL QUOTA PROPOSALS HAD MET WITH STRONG OPPOSITION, NOT ONLY BY THE EXPORTING COUNTRIES BUT ALSO BY THE EEC, JAPAN, AUSTRIA AND THE NORDIC COUNTRIES.
HIMONT SETS UP TECHNICAL CENTRE IN HK
A $60 MILLION ADVANCED COMPOSITE MATERIAL RESEARCH AND MANUFACTURING CENTRE NEWLY SET UP IN HONG KONG BY THE WORLD'S LARGEST PRODUCER
OF POLYPROPYLENE WILL BECOME OPERATIONAL TOMORROW (WEDNESDAY).
ITS EIGHTH AT ΤΑΙ PO BARMA, SAID
WELCOMING HIMONT (EAST) LIMITED'S DECISION TO BUILD REGIONAL TECHNICAL CENTRE ON A 7,000 SQUARE METRE SITE INDUSTRIAL ESTATE, THE DIRECTOR OF INDUSTRY, MR T.H. TODAY (TUESDAY) THAT IT WAS PROOF OF CONTINUED OVERSEAS INTEREST IN HONG KONG AS AN OFFSHORE MANUFACTURING SUPPORT BASE.
HE SAID IT WAS ALSO EVIDENCE THAT OVERSEAS, HIGH-TECHNOLOGY, MULTI-NATIONAL COMPANIES WERE INCREASINGLY AWARE OF HONG KONG'S ADVANTAGES AND ATTRACTIONS FOR REGIONAL TECHNICAL SERVICE CENTRES.
HIMONT INCORPORATED, BASED AT WILMINGTON, DELAWARE, USA, HAS DESCRIBED ITS LATEST INVESTMENT AS ITS WAY OF STATING CONFIDENCE IN THE FUTURE OF HONG KONG.
THE NEW FACILITY WILL PROVIDE THE NEEDED TECHNICAL SUPPORT IN ADVANCING PLASTIC MATERIAL INDUSTRIES, INCLUDING ECOLOGICAL ISSUES AND DESIGN ADVANCEMENT CAPABILITIES.
/MR BARMA