ENG-1967 — Page 87

INDUSTRY AND TRADE

55

of 14 per cent over 1966. This was 24 per cent of the total combined value of exports of Hong Kong manufactures and re-exports of imported goods. During 1967, Indonesia overtook Japan and became the most important re-export market. Singapore took third place, followed by the United States, Belgium, Macau, and Taiwan. The principal commodities in the re-export trade were textile fabrics, diamonds, medicinal and pharmaceutical products, and animal and vegetable crude materials.

TRADE PROMOTION

This was the first full working year of the newly formed Trade Development Council. Established as a statutory corporation under an independent chairman, it is composed of two representatives each from the Hong Kong General Chamber of Commerce, Federation of Hong Kong Industries and the Chinese Manufac- turers' Association; the chairman of the Hong Kong Tourist Association and the Exchange Banks Association; two senior government officials-the Director of Commerce and Industry and the Director of Information Services; and four members appointed by name. The council has a permanent secretariat under an executive director and it is financed by subventions from the government, roughly equivalent to the existing support from general revenue for trade promotion, plus a levy on the value of trade imposed on the commercial and industrial community. Its head office is in the ocean terminal, Kowloon, where it main- tains a permanent display of Hong Kong products.

The programme of active promotion during the year concen- trated more on selling missions than attendance at fairs. The first mission went to Scandinavia in April, and one went to Spain in May. These markets have shown definite increases in trade, partic- ularly Norway, Denmark and Sweden, and members of the missions reported good business. In both Spain and Scandinavia the council has appointed public relations consultants to keep Hong Kong's name before the public. In June, in an attempt to diversify Hong Kong's trade with Austria and Switzerland, a mission was sent to these countries.

A mission to East Africa in September had a novel approach. An exhibition of products was housed in a mobile display area