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TRADE AND INDUSTRY

various task forces, including the Pacific Economic Outlook Project, Trade Policy Forum and other activities of interest to the Hong Kong economy. The territory was also represented at the 10th General Meeting of the PECC, held from March 22 to 24 in Kuala Lumpur, Malaysia.

Since 1989, Hong Kong has been participating actively in workshops organised by the Organisation for Economic Co-operation and Development (OECD), as part of OECD's informal dialogue with Dynamic Non-Member Economies. Hong Kong became an observer on the OECD Trade Committee in April 1994. The Trade Committee plays a unique role as a forum for debates and discussions on trade policy matters, many of which are of concern to the territory. Ideas which are first introduced in this committee are often followed up in the GATT and translated into binding multilateral agreements or codes.

Hong Kong Trade Development Council

The Hong Kong Trade Development Council (TDC) was set up by statute in 1966 to promote and expand the territory's trade. As the international marketing arm for the territory's manufacturers and traders, it plays a vanguard role in opening new and difficult markets for Hong Kong companies.

It was a landmark year for the TDC. Since utilisation of the council's existing Hong Kong Convention and Exhibition Centre is fast approaching saturation, work started on building an extension to it which will more than double its size. The project was entrusted to the TDC by the government. The extension, to be built on reclaimed land directly in front of the existing facility and to be completed in mid-1997, will ensure that Hong Kong retains its lead as Asia's trade fair capital and sourcing hub.

By organising trade fairs for all major Hong Kong industries, the council provides local manufacturers and traders with a cost-effective way of reaching international buyers. Many TDC fairs, such as the Hong Kong Fashion Week, the Hong Kong Electronics Fairs and the Hong Kong Toys and Games Fair, are among the largest of their kind in Asia. The Hong Kong Watch and Clock Fair is among the largest for that industry in the world. The TDC's 16 trade and consumer fairs set new records in 1993-94 with the total number of exhibitors increasing by 12 per cent to nearly 6 000, and total business up by 57 per cent to reach HK$15 billion in value. The total number of visitors was 1.4 million.

Four new overseas offices were added to the TDC's global network, in 1993-94, bringing the number of offices to a total of 40 in 27 countries. Nine more offices are scheduled to open in 1994-95. This growing network is essential in expanding and boosting international awareness of business opportunities in Hong Kong, and the rising quality and design excellence of the territory's products. A key aim is to promote Hong Kong as the most effective gateway to China, and to the markets of the Asia-Pacific region.

Another important task of the TDC's overseas offices is to gather information about international buyers, which is fed into the council's global corporate database. This contains details of almost 400 000 companies worldwide, including 120 000 mainland Chinese enterprises, and can be accessed quickly by over 65 000 Hong Kong traders and manu- facturers.

The database provides the cornerstone of the council's Trade Enquiry Service, and is invaluable to the myriad of small companies in Hong Kong which lack the resources to build their own network of overseas buyers and business partners.