XN000022-1990-10-03 — Page 5

WEDNESDAY, OCTOBER 3, 1990

ECONOMIC TIES ON GLOBAL BASIS URGED

ENTERPRISE,

SAID CHAN,

ECONOMIC CO-OPERATION AND DEVELOPMENT SHOULD BEST BE PURSUED IN A GLOBAL CONTEXT AND IN THE SPIRIT OF FREE TRADE AND FREE

THIS TRADE AND INDUSTRY, THE SECRETARY FOR (WEDNESDAY) MORNING.

MR JOHN

SPEAKING AT THE OPENING OF THE 1990 SYMPOSIUM SAID THAT IN EXECUTIVES AT A LOCAL HOTEL, MR CHAN DID NOT DECRY THE VIRTUES OF REGIONAL CO-OPERATION.

AND

OF ASIAN CHIEF SAYING THIS

НВ

TERRITORIES OF THE DEVELOPMENT OF

HE SAID THERE WAS MUCH THAT THE COUNTRIES ASIA COULD DO FOR AND WITH ONE ANOTHER TO FOSTER THEIR OWN ECONOMIES AND OF THE REGION'S ECONOMY AS A WHOLE.

"HONG KONG TAKES

A KEEN

INTEREST IN

REGIONAL

CO-OPERATIVE

ARRANGEMENTS AND CONTRIBUTES TO THEM AS BEST WE CAN.

"FOR EXAMPLE: WE PLAY AN ACTIVE

FOR ASIA

PART IN THE UNITED NATIONS ASIAN THE AND

AND THE PACIFIC, ECONOMIC COMMISSION

THE PACIFIC DEVELOPMENT BANK. WE ARE GEARING UP FOR A BIGGER ROLE IN

INTERESTED IN ECONOMIC CO-OPERATION CONFERENCE AND WE REMAIN DEEPLY THE WORK OF THE INFORMAL ASIA PACIFIC ECONOMIC CO-OPERATION FORUM, SAID.

||

HE

KONG

MR CHAN SAID BILATERAL ECONOMIC CO-OPERATION BETWEEN HONG AND CHINA IN THE REGION HAD BROUGHT CONSIDERABLE PRACTICAL BENEFITS TO BOTH SIDES.

HONG

AT THE SAME TIME, PACIFIC REGION INCREASED BY SOME 25 PER CENT THREE YEARS. TODAY, HONG KONG'S TRADE WITH ITS ASIA ACCOUNTED FOR 79 PER CENT OF ITS GLOBAL TRADE.

KONG'S TRADE

WITH

THE

ASIA A YEAR OVER THE LAST PACIFIC PARTNERS

WIDER

WORLD WAS A BIGGER

BUT, MR CHAN SAID THAT BY DEFINITION THE PLACE THAN A REGION. "IF REGIONAL CO-OPERATION CAN BRING BENEFITS, HOW MUCH MORE BENEFICIAL WOULD GLOBAL CO-OPERATION BE.

"AND HOW

MUCH MORE

SENSIBLE

BE THEY

WOULD IT BE FOR REGIONAL TRADE FREE CUSTOMS UNIONS, CO-OPERATION ARRANGEMENTS,

THEY REMAIN OUTWARD LOOKING AGREEMENTS OR WHATEVER, TO ENSURE THAT

** HE SAID. AND OPEN TO THE OUTSIDE, AND NOT CLOSE IN UPON THEMSELVES,

MORE AND MORE MR CHAN SAID THERE WERE CLEAR INDICATIONS THAT

OF THE FREE RECOGNITION WAS BEING GIVEN TO THE INTRINSIC EFFICIENCY

то BE DECIDED MARKET MECHANISM AND TO THE WISDOM OF ALLOWING THINGS

FORCES IN A FREELY COMPETITIVE BY THE NATURAL OPERATION OF MARKET ENVIRONMENT.

CO-OPERATION ON A GLOBAL

"THE SIGNS AUGUR WELL FOR ECONOMIC SCALE. AND INCREASINGLY THE ECONOMIES OF THE TOGETHER TO TRY AND SORT OUT THEIR PROBLEMS SOLUTIONS, HE SAID

11

WORLD ARE AND SEEK

COMING

COMMON

/MR CHAN