XN000022-1991-10-03 — Page 4

THURSDAY, OCTOBER 3, 1991

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MR CHAU SAID SERVICES

PLAYED AN ROLE IN THE WORLD ECONOMY SINCE THE 1970'S.

INCREASINGLY

"IN JUST FIVE YEARS FROM 1985 TO 1990, WORLD SERVICES INCREASED MORE THAN 60 PER CENT.

"IN 1990, EXPORTS OF WORLD COMMERCIAL SERVICES WERE U.S.$650 BILLION.

IMPORTANT

EXPORTS OF

VALUED ÅT

"TRADE IN SERVICES NOW ACCOUNTS FOR ONE QUARTER OF WORLD TRADE, AND IS IMPORTANT TO DEVELOPED AND DEVELOPING ECONOMIES SAID.

ALIKE,"

HE

HK

-

NEW ENGLAND NETWORK TO FOSTER PARTNERSHIPS

THE DIRECTOR-GENERAL OF INDUSTRY, MR T.H. BARMA, HÁS ANNOUNCED THE SETTING UP OF THE HONG KONG-NEW ENGLAND NETWORK TO FOSTER BUSINESS AND TECHNOLOGY PARTNERSHIPS BETWEEN HONG KONG AND MASSACHUSETTS.

SPEAKING AT A RECEPTION IN BOSTON YESTERDAY (WEDNESDAY) AS PART OF A ONE-WEEK VISIT TO NORTH AMERICA,

MR BARMA SAID HE HOPED SUCH A LINK WOULD HELP NURTURE BUSINESS RELATIONSHIPS BENEFICIAL ΤΟ

BOTH PLACES.

THIS WORKING ARRANGEMENT BETWEEN HONG KONG AND MASSACHUSETTS FOLLOWED AN AGREEMENT IN HONG KONG LAST AUGUST WHEN GOVERNOR WELD AND THE HONG KONG GOVERNMENT CONCLUDED A MEMORANDUM OF UNDERSTANDING WITH THE OBJECT OF PROMOTING INVESTMENT ACTIVITIES AND TECHNOLOGICAL ADVANCEMENT FOR MUTUAL BENEFIT.

MR BARMA SAID THE ASIA PACIFIC RESOURCE GROUP, A MÁSSÁCHUSETTS MANAGEMENT CONSULTANCY, HAD BEEN ENGAGED TO PROMOTE THE NETWORK.

EXPLAINING THE NEED FOR SUCH A WORKING ARRANGEMENT, MR BARMA SAID IN THE YEARS AHEAD, BOTH MASSACHUSETTS AND HONG KONG COMPANIES MUST FACE THE CHALLENGE OF WORLD-WIDE COMPETITION AND THAT STRATEGIC, WELL-BALANCED PARTNERSHIPS WOULD BE A PARTICULARLY USEFUL WAY то BUILD A GLOBAL BUSINESS.

"OUR GOAL IN SUPPORTING THIS PROJECT IS SIMPLE: WE WANT TO MAKE IT EASIER FOR BUSINESSMEN IN HONG KONG AND MASSACHUSETTS TO WORK TOGETHER TO BUILD THEIR COMPANIES.

"WE WOULD LIKE THE NETWORK TO BE RECOGNISED, AND REGARDED AN EFFICIENT AND RELIABLE MEANS FOR EXECUTIVES AND ENTREPRENEURS, EXCHANGE PRODUCTIVE INFORMATION AMONG THEMSELVES," HE SAID.

AS

ΤΟ

MR BARMA SAID HONG KONG AND MASSACHUSETTS HAD MUCH TO OFFER EACH OTHER.

/"MASSACHUSETTS HAS