Hong Kong-N.Z. trade prospects look bright

Press, 6 September 1982, Page 26

Hong Kong-N.Z. trade prospects look bright

PA Wellington A trade mission from Hong Kong had opened up “real prospects in the development of our trade,” said the Minister of Trade and' Industry, Mr Templeton, in Wellington. Speaking after “useful, helpful, exciting” talks with the Hong Kong mission, Mr Templeton said there were clear opportunities for the

expansion of trade in virtually all spheres. “This mission is a basis on which we can develop.” Trade between Hong Kong and New Zealand is roughly in balance and has increased at an average annual rate of 24 per cent during the last three years, with a 36 per cent leap in the first half of this year. The mission is led by the chairman of the Hong Kong

Trade Development Council, Sir Yuet-Keung Kan, who said that in foodstuffs alone, there were considerable opportunities. “There are more than 5M people there and almost everything they eat has to be imported,” he said:

Members of the mission said that the world trade depression did not apply to Asia and there were considerable opportunities for growth in trade.

Sir Yuet-Keung said significant export opportunities existed in three main areas — infrastructure and housing construction, foodstuffs and the transfer of technology.

. Bating habits in Hong Kong : . are changing rapidly,

imports of dairy products increasing 60 per cent in three years up to this year. “All indications suggest that this trend is accelerating,” he said. New Zealand imports mainly yarn and fabric from Hong Kong, as well as consumer items .such as watches and clocks.