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FRIDAY, MAY 28, 1993
HK HELPS PROMOTE CHINA'S TWO-WAY TRADE
IT WOULD BE TO HONG KONG'S ADVANTAGE IF IT IS SEEN то BE PLAYING A PART IN RESTORING TRADE BALANCES BETWEEN CHINA AND OTHER COUNTRIES, THE DEPUTY DIRECTOR-GENERAL OF TRADE, MR CHRISTOPHER JACKSON, SAID.
**THERE IS A GROWING RESENTMENT IN THE WEST AGAINST RAPIDLY RISING IMPORTS OF CHEAP BUT COMPETITIVE CHINA-MADE CONSUMER PRODUCTS,' HE SAID.
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FOR THE UNITED STATES THIS MEANT AN US$18 BILLION TRADE DEFICIT WITH CHINA LAST YEAR, WHILE IN MEXICO IT HAS PRODUCED SUDDEN AND HIGH PRELIMINARY ANTI-DUMPING DUTIES AGAINST A WIDE RANGE OF CHINA-MADE PRODUCTS.
HONG KONG TRADERS HAD GOT CAUGHT IN THE CROSS-FIRE BECAUSE OF THE RE-EXPORTS OF CHINA-MADE PRODUCTS TO THESE TWO COUNTRIES.
MR
SPEAKING AT THE HONG KONG SOCIETY OF ACCOUNTANTS' SEMINAR, JACKSON SAID: "IT WOULD OBVIOUSLY BE TO OUR ADVANTAGE IF HONG KONG WERE TO BE SEEN PLAYING A PART IN RESTORING TRADE BALANCES A BIT, HELPING OTHERS TO SELL THEIR GOODS TO CHINA."
BY
"THE HONG KONG TRADE DEVELOPMENT COUNCIL HAS RECENTLY DEVELOPED A PROGRAMME CONSISTENT WITH THIS THINKING WHICH THEY HAVE NAMED
'OPERATION PACIFIC BRIDGE'.
DESIGNED IN THE FIRST INSTANCE FOR U.S. BUSINESSMEN, THE 'OPERATION PACIFIC BRIDGE' EXPLAINS THE POTENTIAL OF THE CHINA MARKET AND OFFERS TO HELP LINK U.S. BUSINESSES WITH HONG KONG BUSINESSMEN WITH RELEVANT KNOWLEDGE AND EXPERIENCE OF THE CHINA MARKET.
"THE AIM IS TO MEET THAT NEED FOR INFORMATION IN CHINA ABOUT PRODUCTS AND MATERIAL, ENCOURAGE MORE BALANCED TRADE FLOWS THROUGH HONG KONG WITH CHINA, AND REINFORCE HONG KONG'S ROLE AS A BRIDGE INTO CHINA, AS WELL AS BEING CHINA'S WINDOW ON THE WORLD," HE SAID.
TURNING TO THE URUGUAY ROUND OF TALKS, MR JACKSON SAID THERE WERE STILL MANY DIFFICULT ISSUES TO RESOLVE, BUT HE WAS OPTIMISTIC ABOUT THE OUTCOME.
HIS OPTIMISM WAS TWO-FOLD. FIRSTLY THE U.S. AND 'EC HAD BEEN ADDRESSING SERIOUS DIFFERENCES BETWEEN THEM AND SECONDLY, MOST PARTICIPANTS BELIEVED THAT DECEMBER 15 WAS THE LAST DEADLINE.
"THIS SENSE THAT DECEMBER 15 IS THE REAL DEADLINE SHOULD FOCUS MINDS WONDERFULLY," HE ADDED.
ON THE PHASE-OUT OF THE MULTI-FIBRE ARRANGEMENT, HE SAID THERE SIGNS THAT U.S. NEGOTIATORS MIGHT SEEK TO EXTEND THE PHASE-OUT
WERE PERIOD.
THE
"THAT WOULD BE A MAJOR SET-BACK FOR THE TALKS GIVEN IMPORTANCE OF THE CURRENT DRAFT TO MANY EXPORTING COUNTRIES, INCLUDING HONG KONG.
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