Registry No.
SECURITY CLASSIFICATION
Top Secret.
Secret.
Confidential.
Restricted.
Unclassified.
PRIVACY MARKING
..In Confidence
DRAFT
To:-
BRITISH TRADE INTERESTS
13.
Type 1 +
From
Telephone No. & Ext.
Department
Last year the value of two-way trade between the
UK and Hong Kong exceeded £269 million, with the
visible balance considerably in Hong Kong's favour.
Her exports to Britain, her second biggest customer,
in 1971 amounted to £165 million, of which textiles
and clothing accounted for £103.5 million. The
strong growth in exports to Britain particularly of
fabrics and
will
polyester/cotton garments is expected to slacken
following Hong Kong's recent agreement to restrain
shipments of these items.
year.
14. British exports to Hong Kong in 1971 totalled
£104 million - а 51 per cent increase on the previous
In the two important fields of electric and ctric and
non-electrical machinery, however, Britain is doing
well, with exports in 1971 up by 11 per cent and
36 per cent respectively on 1970. Even so, Britain's
overall share of the Hong Kong market, declining
Las
since 1968 it has stagnated at between 92per cent
This is
and 87 per cent in spite of the strong increase in
recent years in the demand for capital goods needed
for the Colony's industrial re-equipment and expansion
programmes. For these reasons, and to demonstrate
Britain's wish to strengthen traditional commercial
and other ties on her impending accession to the EEC,
(885363) Dd. 896639 1,000M 8/71 St.S.
NOTHING TO BE WRITTEN IN THIS MARGIN
/a major