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FS speaks to service providers in Bangkok

The Financial Secretary, Mr Donald Tsang, is in Bangkok today (Tuesday) to begin the third leg of his Southeast Asia trip.

Speaking at the business seminar organised by the Hong Kong Trade Development Council in Bangkok, Mr Tsang said the service providers in Thailand and Hong Kong could forge effective alliances with each other in exploring regional business opportunities.

"The bilateral trade between Thailand and Hong Kong has grown rapidly in recent years. It reached $33.6 billion or Baht 107.5 billion in 1995, representing an increase of 24 per cent over 1994."

"Hong Kong is the third largest source of foreign investment in Thailand. Hong Kong's direct investment in Thailand totalled $15.5 billion (Baht 49.7 billion) from 1985 to 1994. In the other direction, Thai companies have invested a total of $2 billion (Baht 6.4 billion) in Hong Kong over the same period," Mr Tsang said.

Thailand is Hong Kong's largest supplier of rice, accounting for 77 per cent of our total consumption in 1995. It is also one of the favourite destinations of Hong Kong tourists.

"Since stepping up its liberalisation policies in 1987, Thailand has recorded spectacular economic performance with an average growth of 8.2 per cent a year. Heavy investment in infrastructure will be a key to sustaining this impressive growth rate," Mr Tsang said.

Mr Tsang left Singapore for Bangkok yesterday. Today he met with the Minister of Finance of Thailand, Dr Surakiat Sathirathai, and the Governor of Bank of Thailand, Mr Vijit Supinit, and discussed matters of mutual interest.

While in Bangkok, he will meet local politicians and businessmen over luncheons and dinners, and brief the media on his trip and the latest situation in Hong Kong.

Mr Tsang will call on Deputy Prime Minister, Dr Amnuey Viravan, tomorrow afternoon. He will depart for London in the same evening to continue with his duty visit in the United Kingdom.

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