MONDAY, JANUARY 6, 1992
"BALANCED RESULTS ARE NECESSARY. I AM HOPEFUL THAT THIS WILL BE ATTAINABLE, HE SAID.
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THE TURNING TO THE CREATION OF THE SINGLE EUROPEAN MARKET BY END OF THIS YEAR, MR CHAU SAID ONE AREA OF GREAT INTEREST TO HONG KONG IS THE POSSIBLE ABOLITION OF INTERNAL BARRIERS IN THE TEXTILE SECTOR.
REPLACED BY
IS EXPECTED THAT THE PRESENT REGIME WILL BE IT COMMUNITY-WIDE QUOTAS AFTER THIS YEAR, BUT IT STILL REMAINS TO BE SEEN
EUROPEAN
TEXTILF ON QUOTAS COMMUNITY WOULD PHASE OUT REGIONAL
HOW IMPORT.
COUNTRIES,
HAVE
RECENT DEVELOPMENTS IN THE EASTERN EUROPEAN
THEIR MOVE PARTICULARLY
TOWARDS THE MARKET
COULD ECONOMY, SIGNFICANT IMPLICATIONS FOR HONG KONG, THE SECRETARY SAID.
"WITH A POPULATION OF SOME 400 MILLION PEOPLE, THIS REGION IS A MARKET WITH TREMENDOUS POTENTIAL, HE SAID.
T
MR CHAU CAUTIONED, HOWEVER, THAT TRADING WITH THESE COUNTRIES WILL NOT BE PLAIN SAILING AT THE OUTSET.
IS FAVOURABLE,
"IN GENERAL, ALTHOUGH THE OVERALL SITUATION POLITICAL AND
ARE THE ECONOMIC CONDITIONS IN CERTAIN OF
COUNTRIES VOLATILE, AND IT CALLS FOR CAUTION STILL
FOR PRUDENCE IN DOING BUSINESS WITH THIS REGION,
HE SAID.
REGION FOR HONG
TURNING TO THE ASIA-PACIFIC REGIONS, MR CHAU SAID THE IS LIKELY TO BECOME AN EVEN MORE IMPORTANT TRADING PARTNER KONG.
"WITH INCREASED POLITICAL STABILITY, THE YOUNGER ECONOMIES OF
THE ASIA-PACIFIC WILL GROW EVEN MORE RAPIDLY.
D
ΤΟ
'AS THE INTERMEDIARY FOR A NUMBER OF ECONOMIES IN THE REGION, HONG KONG STANDS READY TO GAIN IN PROVIDING THE NECESSARY SERVICES ACCOMMODATE SUCH GROWTH,' HE SAID.
ON HONG
CHAU SAID THE CHINA AND
KONG AND CHINA TRADE RELATIONS, MR SCOPE AND MAGNITUDE FOR ECONOMIC AND TRADE LINKS BETWEEN HONG KONG COULD ONLY INTENSIFY IN THE NEAR FUTURE.
"BESIDES BEING A POWERFUL CATALYST FOR THE ECONOMIC DEVELOPMENT OF THE PEARL DELTA REGION, HONG KONG WILL CONTINUE TO DO WELL IN ITS EXISTING ROLE AS THE PRINCIPAL GATEWAY TO CHINA, AS AS CHINA'S WINDOW TO THE OUTSIDE WORLD," HE SAID.
WELL
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