XN000022-1992-09-19 — Page 4

SATURDAY, SEPTEMBER 19, 1992

EC INITIATES ANTI-DUMPING PROCEEDINGS ON MAGNETIC DISCS

THE

COMMISSION

TRADE DEPARTMENT HAS RECEIVED INFORMATION THAT THE OF THE EUROPEAN COMMUNITY (EC) HAS ANNOUNCED THE INITIATION OF ANTI-DUMPING PROCEEDINGS AGAINST 3.5-INCH MAGNETIC DISCS ORIGINATING IN HONG KONG AND KOREA.

THE ACTION IS TAKEN IN RESPONSE TO A COMPLAINT LODGED BY THE COMMITTEE OF EUROPEAN DISKETTE MANUFACTURERS.

DECISION

A TOTAL OF 16 HONG KONG COMPANIES ARE NAMED IN THE COMPLAINT.

"THE DEPARTMENT IS DISAPPOINTED WITH THE COMMISSION'S TO INITIATË ANTI-DUMPING PROCEEDINGS AGAINST HONG KONG, ASSISTANT DIRECTOR-GENERAL OF TRADE, MS MARIA KWAN, SAID.

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"GIVEN HONG KONG'S OPEN MARKET AND THE SMALL SIZE OF OUR COMPANIES, WE FIND IT DIFFICULT TO UNDERSTAND WHY

WE SHOULD BE THE SUBJECT OF SUCH ACTION.

IN

"IN THIS PARTICULAR CASE, THERE HAS BEEN A SUBSTANTIAL FALL THE LEVEL OF HONG KONG'S EXPORT TO THE EC OF THE PRODUCT CONCERNED SINCE THE SECOND HALF OF 1991. FALLING IMPORTS FROM HONG KONG SHOULD NOT HAVE CAUSED INJURY TO THE EC'S INDUSTRY, MS KWAN ADDED.

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THE DEPARTMENT HAS KNOWN FOR SOME TIME THE INITIATION OF THE PROCEEDINGS WAS BEING CONSIDERED AND HAS ALREADY HELD A FEW MEETINGS WITH THE LOCAL MANUFACTURERS TO FOREWARN THEM.

"THE TRADE DEPARTMENT WILL MEET THE LOCAL PRODUCERS TO THE WAY FORWARD AFTER WE HAVE STUDIED THE RELEVANT DOCUMENTS OUT THE EC'S COMPLAINT, SHE SAID.

"

DISCUSS SETTING

THERE IS NO PRECISE HONG KONG EXPORT FIGURES FOR 3.5-INCH MAGNETIC DISCS. THE PRODUCT IS INCLUDED UNDER THE COMMODITY HEADING IN THE EXPORT STATISTICS COVERING UNRECORDED MAGNETIC DISCS FOR SOUND RECORDING OR SIMILAR RECORDING OF OTHER PHENOMENA.

EXPORT TO THE EC UNDER THIS HEADING AMOUNTED ΤΟ

HK$196 MILLION IN 1991 AND HK$69 MILLION IN THE FIRST SEVEN MONTHS OF 1992. EXPORT LEVEL FELL SIGNIFICANTLY SINCE THE SECOND HALF OF 1991.

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