Regional Economic Co-operation

As an integral part of the Asia-Pacific economy and an important services,
financial and trading centre, the HKSAR has a role to play and
contribution to make in regional economic co-operation. Hong Kong's
economic links with the region continued to be strong. In 1997, some
80.3 per cent of the HKSAR's total external trade was conducted with the
other 17 member economies of the APEC.

The HKSAR participates as a full and separate member in APEC and
PECC using the name 'Hong Kong, China'. Heads of the relevant bureaux
attended APEC ministerial meetings on Human Resources Development,
Finance, Sustainable Development, Trade, Energy, Small and Medium
Enterprises and Transportation. The Chief Executive represented Hong
Kong, China at the APEC Economic Leaders Meeting in Vancouver,
Canada in November.

The HKSAR was a Vice-Chair of the APEC Committee on Trade and
Investment (CTI), and the Convenor of the Government Procurement
Experts Group under the CTI. Hong Kong contributed constructively to
APEC's work in 1997 towards achieving the goal of free trade and
investment in the Asia-Pacific region by 2020.

The Hong Kong Committee for Pacific Economic Co-operation, set up in
March 1990 to advise on and co-ordinate Hong Kong'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. A senior directorate officer of the government was seconded to
the PECC International Secretariat in Singapore as its Director General for
three years from February 1996.

In September 1997, an HKSAR delegation comprising representatives
from the academic, business and government sectors took part in the
Twelfth International General Meeting of PECC held in Santiago, Chile.
The delegates also participated actively in the Academic Consortium,
Trade Policy Forum Experts Roundtable, Co-ordinating Group meeting
and Standing Committee meeting held around the same time in Santiago.

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