ENG-1996 — Page 153

TRADE AND INDUSTRY

Hong Kong is the Co-Vice Chair of the APEC Committee on Trade and Investment (CTI), and the Convener of the Government Procurement Experts Group under the CTI. The territory contributed constructively towards the implementation of the Osaka Action Agenda which was a road map adopted by Economic Leaders in 1995 to achieve the goal of free trade and investment in the Asia-Pacific region by 2020. The Hong Kong PECC Committee, set up in March 1990 to advise on and co-ordinate the territory's participation in and input to the PECC process, continued to participate actively in the council's various task forces and fora, including the Trade Policy Forum, the Pacific Economic Outlook and the Financial Markets Development Project. In April 1996, Hong Kong hosted a series of PECC Meetings including the Co-ordinating Group and Standing Committee Meetings. It was the first time that major PECC meetings had been held in Hong Kong since it became a full member of PECC in May 1991.

In September 1996, a Hong Kong delegation comprising representatives from the academic, business and government sectors participated in the Ninth Trade Policy Forum held in Seoul and another delegation participated in the PECC Co-ordinating Group and Standing Committee Meetings held in Cartagena, Colombia. Hong Kong also attended a symposium organised by the PECC Trade Policy Forum in Singapore in December. A senior directorate officer of the government was seconded to the PECC Secretariat in Singapore as its Director-General for three years from February 1996.

Hong Kong is an observer on the Trade Committee of the Organisation for Economic Co-operation and Development (OECD) which is an important forum for debates and discussions on trade policy matters. Ideas which are first introduced in this committee are often followed up in other international organisations like the WTO and translated into binding multilateral agreements or codes. In March, Hong Kong hosted an OECD Workshop for Dynamic Non-Member Economies on foreign direct investment which focused on the development of multilateral rules aimed at liberalising and protecting international investment.

Hong Kong Trade Development Council

Established by statue in 1966, the Hong Kong Trade Development Council (TDC) is responsible for promoting and expanding Hong Kong's trade with the world. By April 1996 it had a network of 51 offices in 34 countries and regions, effectively serving as an international marketing arm for Hong Kong's manufacturers and service providers and, as an increasing priority, Hong Kong's service industries.

The TDC marked its 30th anniversary in 1996 with a variety of activities. It also worked intensively on two major initiatives. In response to the government's call for the TDC to increase its emphasis on promoting Hong Kong's service industries, the council launched a 10-point plan in March 1996 to promote awareness of Hong Kong's role as a regional hub for services. Four advisory committees were set up in the areas of media and communications, finance, trade-related services and professional services to help the council to better understand the needs of Hong Kong's service sector, and to decide market priorities and promotional strategies.

The message is clear Hong Kong has a ready supply of services and international expertise which can assist trade expansion, infrastructure development and further economic growth in the rest of Asia and to contribute to the ongoing liberalisation and expansion of China's tertiary sector.

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