TNAG-2912-FCO40-4187-International-support-from-Asia-regarding-the-future-of-Hong-1993 — Page 16

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MR GOODLAD'S VISIT TO SOUTH KOREA, 5-7 JANUARY 1994 HONG KONG

Background

1.

South Korea, China and Hong Kong are fellow members of the Asia Pacific Economic Cooperation (APEC) forum. The volume of trade between South Korea and Hong Kong is growing. South Korea is Hong Kong's seventh largest trading partner in terms of volume of trade. In 1992 Hong Kong's exports to South Korea totalled arond £1,111 million of which the bulk was re-exports (£1,006 million). South Korea is a major supplier of raw materials to Hong Kong (£3,270 million in 1992) coming fifth (after China, Japan, Taiwan and the USA).