XN000022-1987-11-20 — Page 12

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FRIDAY, NOVEMBER 20, 1987

TERRITORY'S ADVANTAGES TO U.S. FIRMS OUTLINED IN SEMINAR

霉霉

HONG

AMERICAN COMPANIES HAVE LONG RECOGNISED THE ADVANTAGES OF KONG AND, ALTOGETHER, ABOUT 900 U.S. FIRMS HAVE SOME KIND OF PRESENCE IN THE TERRITORY,

IN ADDITION, MANY U.S. COMPANIES HAVE HAD A BASE IN HONG KONG

FOR YEARS, AND THE NUMBER IS GROWING FAST.

THESE POINTS WERE EMPHASISED AT A SEMINAR IN WASHINGTON ON THURSDAY (U.S. TIME) BY THE MINISTER FOR HONG KONG COMMERCIAL AFFAIRS IN THE U.S. CAPITAL, MR PETER Y.F. LO.

"THE UNITED STATES HAS MORE INVESTMENT IN OUR MANUFACTURING SECTOR THAN ANY OTHER COUNTRY, ACCOUNTING FOR OVER ONE THIRD OF ALL OVERSEAS INDUSTRIAL INVESTMENTS MR LO TOLD THE SEMINAR ON "HONG KONG'S ROLE IN U.S./CHINA TRADE". THE TWO-DAY SEMINAR WAS ORGANISED

J

"

BY THE CHINA TRADE CAUCUS OF THE U.3. SENATE.

THE MINISTER OUTLINED THE ADVANTAGES THAT HONG KONG OFFERED AS A "GATEWAY TO CHINA" AND ALSO POINTED TO ITS VALUE AS A BASE FOR DOING BUSINESS WITH THE ASIA-PACIFIC REGION AS A WHOLE.

HE MENTIONED THE

EXCELLENT TRANSPORT AND

TELECOMMUNICATIONS

LINKS WITH THE COUNTRIES OF THE REGION.

"WE ARE IN MANY WAYS A SERVICES CENTRE, IN PARTICULAR A FINANCIAL CENTRE, FOR THE REGION.

"WE OFFER A STABLE, SECURE AND COMFORTABLE ENVIRONMENT IN WHICH TO WORK, AND A RELATIVELY WELL-EDUCATED LABOUR FORCE WITH MANY PEOPLE FLUENT IN ENGLISH,' HE SAID.

THE

WAS

IN DESCRIBING THE ECONOMIC AND TRADE RELATIONSHIP BETWEEN UNITED STATES AND HONG KONG, MR LO POINTED OUT THAT THE U.S. THE TERRITORY'S SECOND LARGEST TRADING PARTNER AFTER CHINA. IT WAS HONG KONG'S LARGEST MARKET, ACCOUNTING FOR ABOUT 40 PER CENT OF DOMESTIC EXPORTS ANNUALLY.

MR LO DETAILED HOW TWO-WAY TRADE BETWEEN HONG KONG AND CHINA HAD GROWN DRAMATICALLY OVER THE LAST 10 YEARS, AND HOW THE ENTREPOT ROLE HAD RE-EMERGED AS AN IMPORTANT PART OF THE HONG KONG ECONOMY.

HE LISTED THE ADVANTAGES THAT THE TERRITORY OFFERED TO FOREIGN BUSINESSMEN SEEKING TO DO BUSINESS WITH CHINA, AND REFERRED TO THE EXTENSIVE, AND GROWING, TRANSPORT LINKS BY LAND, SEA AND AIR.

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"AS WELL AS THESE IMPORTANT PHYSICAL LINKS, HONG KONG CAN OFFER THE PERSONAL CONNECTIONS THAT ARE SO IMPORTANT TO DOING BUSINESS ANYWHERE.

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