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"The outcome of these studies will enable the Government to decide whether or not to proceed with a number of projects currently under planning," he said.
Looking ahead, Mr Lee said that his department would continue its work on new town development.
"We will also be putting more emphasis on the new major developments in the urban area," he said.
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Hong Kong and Singapore sign air services agreement
Hong Kong today (Tuesday) signed an Air Services Agreement (ASA) with Singapore, the first such agreement between Hong Kong and Singapore and the thirteenth ASA signed by Hong Kong in accordance with the terms of the Sino-British Joint Declaration. The ASA provides the legal and regulatory framework for the operation of air services.
Secretary for Economic Services, Mr Gordon Siu, signed the agreement on behalf of Hong Kong, whilst Minister for Communications, Mr Mah Bow Tan, signed on behalf of Singapore.
"This agreement will guarantee the continuation of air services links between Hong Kong and Singapore through and beyond 1997, and will be a significant boost to bilateral trade and tourism," Mr Siu said.
Mr Mah hailed the new agreement as opening a new phase in the long-standing aviation relationship between Hong Kong and Singapore.
"I am confident that the agreement will strengthen the already good bilateral ties between Hong Kong and Singapore and promote further development of air services," he said.
Singapore Airlines and Cathay Pacific together operate 63 services per week between Hong Kong and Singapore, offering a total of 22,000 seats and about 160 tonnes of cargo capacity.
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