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The Trade and Industry Department (TID) of the Hong Kong Special Administrative Region Government announced today (March 19) that it would donate US$150,000 to Asia-Pacific Economic Cooperation (APEC) for the newly established Fund to provide financial support to APEC member economies for launching projects that seek to enhance the efficiency of the supply chain for goods and promote connectivity in the region.
Improving the supply chain and strengthening connectivity is one of APEC's core activities. In 2010, APEC decided to achieve an APEC-wide target of a 10 per cent improvement in supply chain performance by 2015, in terms of reduction of time, cost and uncertainty, through member economies' collective and individual actions.
"Hong Kong, as an international trading and logistics hub, will stand to benefit from more convenient and efficient transport infrastructure, logistics operations and customs clearance in the region," a spokesman for the TID said.
"The contribution reflects the importance we attach to APEC activities, particularly those that would enhance connectivity, strengthen economic integration and achieve mutual prosperity in the region," the spokesman added.
Hong Kong, China is one of APEC's 21 member economies. The other members are Australia, Brunei Darussalam, Canada, Chile, China, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the United States, and Vietnam.
The United States, New Zealand, Singapore and Chinese Taipei have announced their intention to make donations to the Fund in addition to the donation by Hong Kong, China.
Ends/Wednesday, March 19, 2014
Issued at HKT 15:15
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