XN000022-1993-01-20 — Page 2

WEDNESDAY, JANUARY 20, 1993

HK/CHINA TRADE TIES TO GROW AND DEVELOP

THE TRADE DEPARTMENT WILL CONTINUE TO MAKE SPECIAL EFFORTS TO STRENGTHEN HONG KONG'S TRADE RELATIONS WITH CHINA THIS YEAR, DIRECTOR-GENERAL OF TRADE, MR DONALD TSANG, SAID TODAY (WEDNESDAY).

REVIEWING THE WORK OF THE DEPARTMENT AT A YEAR-END MEDIA SESSION, MR TSANG SAID A TOTAL OF FIVE MISSIONS WERE SENT то CHINA LAST YEAR.

USEFUL DISCUSSIONS WERE HELD WITH THE MINISTRY OF FOREIGN ECONOMIC RELATIONS AND TRADE AND THE MINISTRY OF FOREIGN AFFAIRS IN BEIJING, AS WELL AS THE PROVINCIAL AUTHORITIES IN GUANGDONG, FUJIAN AND LIAONING.

"HALF A DOZEN OFFICIAL TRADE DELEGATIONS FROM CHINA VISITED THE TRADE DEPARTMENT IN RECIPROCATION, HE SAID.

"SUBJECTS DISCUSSED WERE WIDE-RANGING, INCLUDING CHINA'S ACCESSION TO THE GENERAL AGREEMENT ON TARIFFS AND TRADE, BILATERAL TRADE, ORIGIN RULES, ILLEGAL TRANSHIPMENT AND ENFORCEMENT WORK."

MR TSANG SAID HE BELIEVED THE CURRENT ROW WITH CHINA OVER CONSTITUTIONAL REFORM WAS UNLIKELY TO HURT TRADE IN THE SHORT TERM.

"AS PRODUCTIVITY IN SOUTHERN CHINA REMAINS STRONG, I EXPECT HONG KONG'S RE-EXPORT TRADE TO GROW AT OVER 20 PER CENT IN 1993 AND TOTAL TRADE BY OVER 10 PER CENT.

"HOWEVER, SHOULD THE DISPUTE REMAIN UNRESOLVED, INVESTMENT IN HONG KONG AND SOUTHERN CHINA MIGHT BE AFFECTED, HE SAID.

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AS REGARDS CONTACTS WITH CHINESE TAIPEI (TAIWAN), MR TSANG SAID: "OUR COMMERCIAL RELATIONS WITH TAIPEI HAVE BEEN GROWING STEADILY UNDER THE ASIA PACIFIC ECONOMIC CO-OPERATION (APEC), AND THIS TREND IS LIKELY TO CONTINUE AS THE SCOPE OF APEC ACTIVITIES WIDENS.

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CHINESE TAIPEI (TAIWAN) IS HONG KONG'S FOURTH LARGEST TRADING PARTNER. CURRENT TRADE AMOUNTS TO HK$100 BILLION A YEAR AND IS GROWING BY 10 PER CENT A YEAR.

TURNING TO THE DEPARTMENT'S ACTIVITIES IN APEC, MR TSANG REPORTED THAT A DIRECTORATE OFFICER WOULD SHORTLY BE SECONDED то APRC SECRETARIAT NOW BEING ESTABLISHED IN SINGAPORE.

THE

HE SAID HE FIRMLY BELIEVED THAT APEC WOULD COMPLEMENT WORK IN THE URUGUAY ROUND (UR) OF TRADE TALKS.

WHEN ASKED ABOUT THE OUTLOOK OF THE UR NEGOTIATIONS, MR TSANG SAID CHANCES WERE SLIM FOR ITS CONCLUSION BEFORE THE CURRENT NEGOTIATING MANDATE OF THE U.S. ADMINISTRATION EXPIRED IN MARCH THIS

YEAR.

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