THURSDAY, OCTOBER 18, 1990
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HK BUSINESSMEN WORRY ABOUT OPENNESS OF EUROPEAN MARKET: GOVERNOR
THE GOVERNOR, SIR DAVID WILSON TODAY (THURSDAY} TOLD THE BELGIAN BUSINESSMEN THAT HONG KONG'S EXPORTERS, RIGHTLY OR WRONGLY, WORRIED THAT 1992 WILL MEAN EUROPE OPENING UP INTERNALLY, BUT NOT TO THE REST OF THE WORLD.
THE GOVERNOR WAS ADDRESSING THE FEDERATION OF BELGIAN ENTERPRISES AND THE BELGIUM-HONG KONG SOCIETY IN BRUSSELS DURING THE LAST LEG OF HIS VISIT TO EUROPE.
"THEY CITE THE EXAMPLE OF EXISTING QUANTITATIVE RESTRAINTS ON MANY OF OUR TRADITIONAL EXPORTS, TOGETHER WITH HEAVY DUTIES. BOTH CONTRAST ODDLY WITH HONG KONG'S OPENNESS,
"THEY CITE ALSO THE RESORT BY SOME EUROPEAN INDUSTRIES TO ANTI- DUMPING MEASURES WHICH DAMAGE TRADE BY CREATING UNCERTAINTY EVEN BEFORE THE CASE HAS BEEN EXAMINED,' SIR DAVID SAID.
10.
THE GOVERNOR SAID THE HONG KONG GOVERNMENT HAD TAKEN UP THIS TYPE OF ISSUE WITHIN THE GATT.
"I HOPE THAT THE URUGUAY ROUND, IN WHICH WE HAVE MADE A POINT OF PLAYING AN ACTIVE PART, AND WHICH ENDS IN BRUSSELS IN DECEMBER THIS YEAR, WILL HELP FREE INTERNATIONAL TRADE FROM BUREAUCRACY AND REGULATION," THE GOVERNOR SAID.
HE URGED THE EUROPEAN BUSINESSMEN THAT AS THEY GRAPPLED WITH THE INTEGRATION OF THEIR INTERNAL MARKET, THEY DID NOT FORGET THE REST OF THE WORLD AND THE OPPORTUNITIES FOR GROWTH WHICH LAY THERE.
"MANY OF THESE OPPORTUNITIES CAN BE FOUND IN HONG KONG, SIR SAID, CITING HONG KONG'S PLANS FOR MAJOR NEW INFRASTRUCTURAL
DAVID INVESTMENT.
ON BILATERAL TRADE, SIR DAVID POINTED OUT THAT THR EUROPEAN COMMUNITY WAS HONG KONG'S THIRD LARGEST TRADING PARTNER, AFTER CHINA THE USA, AND HONG KONG'S THIRD LARGEST SUPPLIER AFTER CHINA AND
AND JAPAN.
"OVER THE PAST DECADE, EUROPEAN EXPORTS TO HONG KONG HAVE INCREASED AT OVER 17 PER CENT PER ANNUM.
"EVEN So, I BELIEVE THERE ARE OPPORTUNITIES POR BUROPEAN ENTERPRISES IN HONG KONG WHICH HAVE NOT BEEN FULLY EXPLOITED.
/"OUR MARKET