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Hong Kong : Textile & clothes sector assured business friendly support |
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2004-8-19
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Hong Kong would remain competitive in textiles and clothes manufacturing after the removal of import quotas by the World Trade Organization (WTO) next year, according to John Tsang.
Tsang, Secretary of Commerce, Industry & Technology, said he does not think that local factories will move their facilities outside after the quota removal.
As per the WTO agreement on textile and clothing, all quota restrictions imposed by WTO members on their textile and clothing imports would be totally lifted on January 1, 2005.
He said that the removal of the quota system marked an important milestone in the liberalization of international trade in textiles and clothing.
He said while trade liberalization could broaden the scope for trade and facilitate market expansion by Hong Kong business fraternity, it would at the same time boost market competition.
Tsang pledged that the government would continue to offer the trade a business-friendly environment and improve services.
He urged the trade to lower production costs and boost product quality to sharpen Hong Kong''s competitiveness.
Tsang said the proposed regulatory framework for textiles after the quota removal had been worked out and law revisions would be tabled at the Legislative Council in October.
"We will still continue to allow our manufacturers here to make use of the outward processing arrangement that helps them to deal with a lot of the more labor-intensive aspects of the manufacturing," he said.
While production costs in Hong Kong were higher than neighboring cities, Hong Kong still had its advantages, like product quality and prompt response to market demand, said Tsang.
Hong Kong had become a key financial, logistics, information and services support and co-ordination hub in the region.
"I think Hong Kong will continue to remain a pretty attractive place for the manufacturing of textiles and clothing," said Tsang. |
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