BRIEF 4
UK EXPORT PROMOTION IN HONG KONG
5
Major promotional exercises, such as the British Industrial Exhibition sponsored by the BOTB in March 1978 at which 140 UK firms were represented, have also helped to spread awareness of the opportunities. A growing number of officially-supported missions and British 'business visitors have visited the territory in recent years.
Details of forthcoming missions are at Annex 2.
EXPORT PROMOTION IN THE UK
6
The DoT are advised on export promotion to Hong Kong by their Hong Kong Trade Advisory Group. This consists of businessmen and bankers with wide experience of the territory. Its chairman, Mr John Browne, is a Director of the trading house of John Swire and Sons which has a major share in the Cathay Pacific Airline.
PROSPECTS
7
Hong Kong's vulnerability to restrictions on its textile and clothing exports and increasing competition from lower-cost suppliers such as Taiwan and S Korea has intensified the need to widen its industrial base. This should result in substantial opportunities for British suppliers of machinery and equipment.
UK INVESTMENT IN HONG KONG
8
The Hong Kong Government has for long encouraged the inflow of foreign investment into the manufacturing sector, chiefly because it brings with it much needed skills, technology and overseas market networks. Given the basic policy of non-interference, foreign investors are not provided with specific incentives, although the favourable investment climate has encouraged a large influx of overseas investment, including a sizeable amount from China.