THURSDAY, MARCH 5, 1987
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EXPANDED BUSINESS TIES WITH BELGIUM URGED
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HONG KONG AND BELGIUM ENJOY A CORDIAL ECONOMIC RELATIONSHIP AND THE TERRITORY IS CONTINUOUSLY LOOKING FOR WAYS TO EXPAND BUSINESS OPPORTUNITIES IN BELGIUM, THE SECRETARY FOR TRADE AND INDUSTRY, MR E.P. HO, SAID TODAY THURSDAY).
SPEAKING AT A LUNCHEON MEETING HOSTED BY THE BELGIAN CONSULATE-GENERAL IN HONG KONG, MR HO SAID BELGIUM HAD ALREADY BEEN PLAYING A USEFUL PART IN FACILITATING TRADE BETWEEN HONG KONG AND ITS THIRD LARGEST TRADING PARTNER, THE EEC AS A WHOLE.
IN 1986, THE EEC ACCOUNTED FOR SOME 13 PER CENT OF HONG KONG'S TOTAL TRADE. IT WAS HONG KONG'S SECOND LARGEST MARKET, TAKING SOME $31 300 MILLION WORTH OF OUR DOMESTIC EXPORTS AND WAS ALSO OUR THIRD LARGEST SUPPLIER, SELLING SOME $31 700 MILLION WORTH.
MR HO SAID HONG KONG WAS AN IMPORTANT MARKET FOR EEC GOODS, WITH ITS IMPORTS PER CAPITA FROM THE EEC MORE THAN, FOR EXAMPLE, AUSTRALIA, CANADA, THE UNITED STATES AND JAPAN.
HONG KONG WAS A VERY GOOD MARKET FOR BELGIAN PRODUCTS PARTICULARLY DIAMONDS, BUT THE BALANCE OF TRADE HAD ALWAYS BEEN IN BELGIUM'S FAVOUR.
+WE DO NOT HAVE ANY TARIFF OR NON-TARIFF BARRIERS TO IMPORTS, AND NATURALLY SEEK TO ACHIEVE THE BEST POSSIBLE ACCESS FOR OUR PRODUCTS IN OVERSEAS MARKETS.+
HONG KONG'S INDUSTRIES WERE CONTINUOUSLY EVOLVING TO MAINTAIN EXPORT COMPETITIVENESS AND IF THE OPPORTUNITIES WERE LEFT TO BE EXPLOITED BY MARKET FORCES WITHOUT HINDRANCE THROUGH PROTECTIONISM THERE WOULD BE INCREASED TRADE BOTH WAYS, HE SAID.
ON BELGIAN INVESTMENT IN HONG KONG, MR HO SAID BELGIAN INTERESTS WERE ALREADY PRESENT IN THE BANKING, FINANCIAL, INSURANCE AND MANUFACTURING SECTORS.
+HÔNG KONG IS A GOOD PLACE FOR SUCH INVESTMENT. WE HAVE A HARDWORKING AND RESOURCEFUL WORK FORCE, EXCELLENT INFRASTRUCTURE AND COMMUNICATION FACILITIES, A LOW TAX REGIME
A LOW TAX REGIME, A STABLE LEGAL FRAMEWORK AND AN IDEAL LOCATION ALONG THE TRADE ROUTES OF THE ASIAN-PACIFIC REGION, AND A GATEWAY TO CHINA.+
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