XN000022-1990-08-02 — Page 5

THURSDAY, AUGUST 2, 1990

APART FROM IMPROVING THE ROAD NETWORK AND PORT AND AIRPORT FACILITIES, MR CHAN SAID THE GOVERNMENT WAS ALSO TAKING STEPS ΤΟ SUPPORT THE FURTHER DEVELOPMENT OF MANUFACTURING INDUSTRIES TERRITORY.

IN THE

"WE ARE ALSO ENCOURAGING THE DEVELOPMENT OF MORE KNOWLEDGE AND TECHNOLOGY – INTENSIVE INDUSTRIES.

+

"WE ARE NOW BUILDING AN INDUSTRIAL TECHNOLOGY CENTRE, WHICH IS PLANNED TO COME ON STREAM EARLY IN 1993, ΤΟ PROVIDE FACILITIES AND SERVICES FOR NEW AND SMALL-SCALE HIGH TECHNOLOGY COMPANIES UNTIL THEY CAN STAND ON THEIR OWN FEET, HE SAID.

"

MR CHAN SAID ALL THESE ACTIONS

COMMITMENT TO THE FUTURE.

DEMONSTRATED THE GOVERNMENT'S

"THEY WILL ENABLE HONG KONG TO CONTINUE AS ONE OF THE MOST DYNAMIC INDUSTRIAL AND TRADING ECONOMIES IN THE ASIA PACIFIC REGION WELL INTO THE 21ST CENTURY.

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"AS WE ENGAGE

IN

BUILDING A BETTER FUTURE, THERE WILL BE PLENTY OF BUSINESS AND INVESTMENT OPPORTUNITIES FOR FOREIGN AND LOCAL COMPANIES ALIKE.

"WE WELCOME COMPANIES FROM SINGAPORE TO JOIN US IN OUR GREAT UNDERTAKING," HE SAID.

HONG KONG'S OPEN TRADE POLICIES PRAISED

A REVIEW OF HONG KONG'S TRADE POLICY AND PRACTICES BY THE COUNCIL OF THE GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT), THE 97-MEMBER STRONG WORLD TRADE WATCHDOG BASED IN GENEVA, HAS ENDED WITH FLYING COLOURS FOR HONG KONG.

"THE COUNCIL PRAISED HONG KONG'S OPEN TRADE POLICIES, WHICH WERE A MAJOR SOURCE OF ITS PROSPERITY. MEMBERS EXPRESSED APPRECIATION FOR HONG KONG'S READINESS TO MAKE ITS OWN CONTRIBUTION TO THE SUCCESS OF THE URUGUAY ROUND NEGOTIATIONS," SAID THE CHAIRMAN OF THE COUNCIL, AMBASSADOR RUBENS RICUPERO, IN HIS REMARKS CONCLUDING THE REVIEW OF HONG KONG,

"THE COUNCIL NOTED THAT HONG KONG'S TRADE POLICIES WERE BASED ON THE MOST-FAVOURED-NATION PRINCIPLE. IT WAS AN ACTIVE AND CONSCIENTIOUS MEMBER OF THE GATT AND HAD SUBSCRIBED TO VIRTUALLY THE TOKYO ROUND CODES. ITS TRADE POLICIES WERE TRANSPARENT, THE CHAIRMAN SAID.

ALL

"

IN INTRODUCING TO THE COUNCIL HONG KONG'S REPORT WHICH FORMED THE BASIS OF THE REVIEW, DEPUTY SECRETARY FOR TRADE AND INDUSTRY, MR JOSEPH W.P. WONG, EXPLAINED HONG KONG'S BASIC PHILOSOPHY ON TRADE AND ITS PARTICIPATION IN THE GLOBAL TRADING SYSTEM.

/*HONG KONG