TUESDAY, MARCH 2, 1993
11
"THE TRADE DEPARTMENT AND THE TRADE DEVELOPMENT COUNCIL ARE WORKING TOGETHER TO DEVISE WAYS IN WHICH TO DO SOME MARRIAGE BROKING; WE AIM TO ENCOURAGE U.S. BUSINESSES THAT HAVE YET TO REALLY THE HONG KONG AND CHINA MARKETS TO DO SO, AND TO WITH HONG KONG FIRMS WELL-PLACED TO HELP.
FOCUS ON
PUT THEM IN
TOUCH
FROM SUCH AN
TO GOING
GET
DERIVED "THERE IS OBVIOUS MUTUAL BENEFIT TO BE
PROBLEM WHICH EXERCISE AND IT WILL BE AIMED AT A
IS BIGGER CHINA'S TRADE SURPLUS WITH AMERICA," MR TSANG SAID.
-
WOULD BB
IT WAS WELL UNDERSTOOD THAT ACCESS TO CHINA'S MARKET THE
TO KEY
ADDRESS GROWING AND WIDESPREAD CONCERN IN AMERICAN BUSINESS AND LABOUR CIRCLES. HOWEVER, IT WOULD NOT BE AN EASY PROCESS.
MR TSANG BELIEVED THE AMERICANS KNEW THE PROBLEM.
THE
"THEY HAVE SHIRKED FOR 30 YEARS FROM OPENING UP THEIR TEXTILES GARMENT
TO MARKET
FULL-BLOODED COMPETITION, FEARING UNEMPLOYMENT AND ECONOMIC READJUSTMENT THAT WOULD REQUIRE.
AND
"THEY ARE ASKING MUCH MORE OF CHINA, AND CHINA IS RESPONDING.
"PREVIOUSLY PROTECTED INDUSTRIES WILL SUFFER. BUT THE CHINESE APPEAR QUITE DETERMINED TO REFORM THEIR MARKET, REINFORCE THEIR INFRASTRUCTURE AND BOOST THEIR ECONOMY, MR TSANG SAID.
וי
WITH CHINA'S FIVE-YEAR PLAN FOR 1991 ΤΟ 1995 WHICH INVOLVED SPENDING US$300 BILLION TO US$500 BILLION ON IMPORTS, OPPORTUNITIES PRESENTED TO HONG KONG AND AMERICAN COMPANIES ALIKE WERE TREMENDOUS.
MR TSANG PREDICTED AMERICA'S EXPORTS TO CHINA WOULD CONTINUE TO FLOURISH, AND THAT CRITICAL TRADE SURPLUS WOULD BEGIN TO DECLINE.
"HONG KONG MUST BE A PART OF THAT PROCESS, AND WILL BENEFIT FROM IT IN MANY WAYS, HE ADDED.
17
TSANG
MR GATT, THIS MULTILATERAL REASONABLE AND AGREED
BY
CHINA'S TURNING TO
DESIRE TO RE-JOIN THE INDICATED HONG KONG'S SUPPORT OF ITS ADMITTANCE TO TRADING BODY, BUT "THE CONDITIONS MUST BE ALL PARTIES".
'CHINA IS TAKING THAT PROCESS SERIOUSLY HOPEFUL THAT THE TERMS OF CHINA'S ACCESSION TO AGREED BY THE END OF THIS YEAR, HE SAID.
AND Į AM GATT
REASONABLY
WILL HAVE BEEN
HONG KONG ALSO WELCOMED TAIWAN TO BECOME A MEMBER OF THE GATT.
MR TSANG SAID GREATER ECONOMIC ACTIVITY AND MORE AMONG OUR NEIGHBOURS WAS WHAT WE NEEDED.
OPEN
MARKETS
"AS PROTECTIONISM CAUSES UNCERTAINTY IN OUR TRADITIONAL LOWERED CLOSER TO MARKETS, IT IS A RELIEF TO SEE THE BARRIERS BEING HOME.
"AND AS OUR SERVICE GROWS IT WILL MOST OF OPPORTUNITIES OPENING UP NEARBY,
BE
WELL-PLACED TO MAKE
THE
HE SAID.
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