XN000022-1991-01-04 — Page 2

FRIDAY, JANUARY 4, 1991

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TRADE IS THE CORNERSTONE OF HK'S ECONOMIC SUCCESS

HONG KONG'S TRADE WITH THE REST OF THE WORLD HAS BEEN THE CORNERSTONE OF THE TERRITORY'S ECONOMIC SUCCESS, THE SENIOR MEMBER OF THE EXECUTIVE COUNCIL AND CHAIRMAN OF THE HONG KONG TRADE DEVELOPMENT COUNCIL, BARONESS DUNN, SAID THIS (FRIDAY) AFTERNOON.

SPEAKING AT THE OFFICIAL OPENING OF THE TRADE DEPARTMENT OFFICES AT TRADE DEPARTMENT TOWER, MONG KOK, BARONESS DUNN SAID: "THE TRADE DEPARTMENT HAS CONTRIBUTED MUCH TO THIS SUCCESS THROUGH THEIR ENLIGHTENED ATTITUDE IN CONSULTING AND INVOLVING TRADERS IN THE FORMULATION OF POLICIES, THEIR PROFESSIONALISM IN MULTILATERAL TRADE NEGOTIATIONS AND THEIR EFFICIENCY IN ADMINISTERING THE REGULATORY FRAMEWORK.

SHE SAID HONG KONG'S EFFECTIVENESS AS A TRADING AND TRADE SERVICES CENTRE WOULD ASSUME EVEN GREATER IMPORTANCE AS INTERNATIONAL BUSINESS INCREASED ITS LINKS WITH CHINA AND COMMERCIAL EXCHANGE WITHIN THE ASIAN REGION EXPANDED.

GROW.

BARONESS DUNN SAID DEMANDS ON THE TRADE DEPARTMENT WOULD ALSO

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"THE TASK OF ADMINISTERING AND REGULATING THE MILLIONS INDIVIDUAL TRANSACTIONS THAT MAKE UP OUR COLLECTIVE TRADE PERFORMANCE MAY APPEAR ROUTINE ΤΟ SOME, BUT THE ACCURATE AND EFFICIENT DOCUMENTATION OF TRADE, WITH MINIMUM BUREAUCRATIC RED TAPE, HAS BEEN ONE OF OUR INTERNATIONALLY RECOGNISED ASSETS FOR WHICH THE TRADE DEPARTMENT CAN CLAIM FULL CREDIT.

"I KNOW THIS NEW FACILITY HAS BEEN DESIGNED WITH SPECIFIC FEATURES TO ENSURE THIS TRADITION WILL BE MAINTAINED, IN FACE OF

THE GREATER TRADE VOLUMES EXPECTED IN THE YEARS TO COME, SHE SAID.

"

ALSO SPEAKING AT THE OPENING CEREMONY, THE DIRECTOR-GENERAL TRADE, MR T.H. CHAU, SAID TRADE WAS THE LIFEBLOOD OF HONG KONG THE TRADE DEPARTMENT EXISTED TO SERVE THE TERRITORY'S TRADERS.

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"WITH THE INSTALLATION OF THE TRADE DEPARTMENT ΤΟ OUR NEW PERMANENT HEADQUARTERS, WE ARE ABLE TO PROVIDE OUR TRADERS WITH A BETTER SERVICE, HE SAID.

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MR CHAU SAID THE NEW OFFICES WERE CONSIDERABLY LARGER THAN THE OLD ONES AND ALLOWED THE DEPARTMENT TO ORGANISE ITS WORK IN A MORE EFFICIENT WAY, RESULTING IN IMPROVEMENTS IN ITS SERVICES.

THE TRADE DEPARTMENT OFFICES AT TRADE DEPARTMENT TOWER, CONVENIENTLY LOCATED ON TOP OF MONG KOK MTR STATION, BECAME OPERATIONAL ON AUGUST 28 LAST YEAR.

SEVERAL FEATURES HAVE BEEN INCORPORATED IN DESIGNING THE NEW OFFICES WITH A VIEW TO IMPROVING SERVICES TO THE TRADE, INCLUDING DECENTRALISATION OF THE DEPARTMENT'S RECEIPT AND ISSUE COUNTERS TO THE RELEVANT LICENSING OFFICES ON THE RESPECTIVE FLOORS.

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