XN000022-1991-10-21 — Page 3

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MONDAY, OCTOBER 21, 1991

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'THERE ARE THEREFORE GOOD OPPORTUNITIES FOR HONG KONG EXPORTERS AND ENTREPRENEURS," HE SAID.

HE

THAT NOTED

CENTRAL

AND TOTAL TRADE BETWEEN HONG KONG EASTERN EUROPE HAS ALREADY BEEN GROWING ENCOURAGINGLY, HE SAID.

TO OVER CENT

"IN 1990, TOTAL TRADE ROSE BY 32 PER CENT OVER 1989, $4.4 BILLION. IN THE FIRST HALF OF THIS YEAR, THERE WAS A 35 PER INCREASE TO REACH $2.5 BILLION.

BASE, THE

"ALTHOUGH THE INCREASES WERE ON A RELATIVELY SMALL UPWARD TREND REFLECTS THE GOOD POTENTIAL OF THESE MARKETS," HE SAID.

MARKETS, MR MONITORING AND

TURNING TO HONG KONG'S EFFORT IN DEVELOPING THESE MACLEOD SAID THE TRADE DEVELOPMENT COUNCIL HAD BEEN DEVELOPING THE MARKETS IN AUSTRIA AND EASTERN EUROPE.

"IT

IN ROLE USEFUL

EXHIBITIONS A NUMBER OF

TO POLAND, ORGANISED

SEEKING To HAVE HUNGARY,

AN ACTIVE AND HAS PLAYED A HONG KONG PRESENCE THERE. ESTABLISH BEEN HELD

TRADE AND CZECHOSLOVAKIA AND USSR.

MISSIONS

HONG KONG LAST MONTH

"IN PARTICULAR, EXHIBITIONS OF HONG KONG PRODUCTS ARE REGULARLY

A RECENTLY, HELD IN WARSAW, BUDAPEST AND PRAGUE. MOST PRODUCTS EXHIBITION BY ABOUT 40 COMPANIES HELD IN WARSAW ACHIEVED GOOD RESULTS.

**SOME $28

ON THE MILLION WORTH OF BUSINESS ORDERS WERE MADE

UNDER NEGOTIATION, НЕ SPOT AND ANOTHER $73 MILLION OF ORDERS ARE SAID.

THAT PENETRATING THE CENTRAL-

HOWEVER, MR MACLEOD CAUTIONED EASTERN EUROPEAN MARKETS WAS BY NO MEANS EASY.

AND

"THERE ARE PROBLEMS OF SHORTAGE OF FOREIGN CURRENCY, INADEQUATE COMMERCIAL INFRASTRUCTURE, LOW PRODUCTIVITY, LOW PURCHASING POWER GOVERNMENT RED-TAPE,' HE SAID.

ARE "THESE

"I

FURTHERMORE,

•

HE NOTED.

INVESTMENT. OBSTACLES TO TRADE AND ECONOMIC SUCCESS IN THE REGION IS FAR FROM ASSURED,

"THAT SAID, DEVELOPMENTS IN EASTERN EUROPE UNDOUBTEDLY PROVIDE AN QPPORTUNITY FOR THE IMAGINATIVE ENTREPRENEUR. AND ALL THE SIGNS ARE THAT THESE COUNTRIES ARE VERY SERIOUS ABOUT ESTABLISHING MARKET ECONOMY," HE ADDED.

A WORKING

ON AUSTRIA'S RELATIONS WITH EASTERN EUROPE AND HONG MACLEOD SAID GIVEN ITS GEOGRAPHICAL POSITION AND EXPERIENCE, WAS WELL PLACED TO ACT AS A CONVENIENT SPRINGBOARD FOR BUSINESSMEN SEEKING TO ESTABLISH A FOOTHOLD IN THE REGION.

KONG

KONG, MR AUSTRIA HONG KONG

AUSTRIA

"HONG

TO CHINA 19 IN SOME RESPECTS WHAT EASTERN EUROPE. BOTH ARE MAJOR GATEWAY TO THE HINTERLAND,

IMPORTANT

IS TO

" HE SAID.

CONDUIT FOR THE RE-

"FOR MANY YEARS, AUSTRIA HAS BEEN AN TRADE WITH EASTERN EUROPE. PRESUMABLY REFLECTING THIS ROLE, EXPORT TRADE BETWEEN AUSTRIA AND HONG KONG ROSE BY AN AMAZING 15 TIMES BETWEEN 1986 AND 1990.

/"AND THE