XN000022-1989-11-15 — Page 28

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WEDNESDAY. NOVEMBER 15. 1989

HK SHOULD HAVE ROLE IN REGIONAL ECONOMIC CO-OPERATION

SHOULD HONG KONG. AS AN INTEGRAL PART OF THE REGIONAL ECONOMY.

IN REGIONAL ECONOMIC HAVE A CONTRIBUTION TO MAKE AND A ROLE TO PLAY

MICHAEL CO-OPERATION. THE DEPUTY SECRETARY FOR TRADE AND INDUSTRY. MR CARTLAND, SAID TODAY (WEDNESDAY).

MEETING SPEAKING AT THE SEVENTH

OF THE PACIFIC ECONOMIC MR CARTLAND CO-OPERATION CONFERENCE (PECC1 IN AUCKLAND, NEW ZEALAND.

THAT PECC WAS AN SAID HONG KONG BELIEVED

IMPORTANT PART OF THE AND. REGARDLESS OF REGIONAL ECONOMIC CO-OPERATION

HOW OTHER NEED COMPLEMENTARY DISCUSSIONS MIGHT DEVELOP, THERE WOULD ALWAYS BE A

FOR THE PROVIDED.

ACADEMIC VALUABLE

AND BUSINESS

CONTRIBUTION

"WE STAND

TO READY

PARTICIPATE

IN REGIONAL

THAT PECC

ECONOMIC

CO-OPERATION." HE SAID.

MR CARTLAND SAID HONG KONG HAD PARTICIPATED IN TASK FORCE AND ATTENDED THE MEETING AS GUEST OBSERVERS.

HE SAID HONG KONG'S MAIN INTEREST WAS IN THE AREA OF TRADE POLICY.

WORK

IN

THE

ACTIVITIES OF

PECC

AND

ECONOMY. IT "GIVEN HONG KONG'S EXTERNALLY-ORIENTED EXPORT-LED

HAVE A STRONG IS INEVITABLE THAT WE

INTEREST IN MAINTAINING STRENGTHENING THE OPEN WORLD TRADING SYSTEM, HE SAID.

HONG

TRADE IN 1988. AND MAKING HONG

MR CARTLAND SAID THE VALUE OF

KONG'S MERCHANDISE HAD GROWN RAPIDLY DURING THE 1980'S TO REACH US$127 BILLION REPRESENTING 2.2 PER CENT OF WORLD TRADE IN GOODS KONG THE 11TH LARGEST TRADING ECONOMY IN THE WORLD.

HAS, WE BELIEVE,

"A MAJOR DETERMINANT OF HONG KONG'S SUCCESS BEEN THE PURSUIT OF NON-INTERVENTIONIST FREE TRADE POLICIES.

NO BARRIERS "THERE ARE

то TRADE. NO TARIFF, NO EXCHANGE - CONTROLS: WE ARE OPEN TO INWARD AND OUTWARD INVESTMENT FLOWS AND

TRADE IN SERVICES. A COMPARATIVELY UNREGULATED ENVIRONMENT FOR SAID.

HAVE

14

HE

ΤΟ

ΤΟ THE FLEXIBLE MR CARTLAND SAID ALL OF THIS HAD CONTRIBUTED AND ADAPTABLE NATURE OF HONG KONG'S ECONOMY WHICH ADJUSTED READILY CHANGING CIRCUMSTANCES.

HE SAID HONG KONG'S ADJUSTMENT IN RESPONSE CURRENCY MOVEMENTS.

ΤΟ

ECONOMY WAS IN A CONTINUOUS

MARKET DEVELOPMENTS. COST

STATE FACTORS

OF

AND

"IT HAS DEMONSTRATED AN ABILITY TO DEVELOP COMPLEMENTARITIES AND A DEGREE OF INTER-DEPENDENCE WITH OTHER ECONOMIES TO OF THE REGION AS A WHOLE." HE SAID.

THE BENEFIT

/"AS MUCH

E