V
28404 HKGOVT G
24145
RTRLDN G
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QZCZC LTX022 031050 DXC599 YY TWX
1725: PROHONGAID LONDON ONE:
GIS 179/80
YCX288 03-1037 YHN426
COMMISSIONER EXDIS (FOR BRAY FROM FORD)
AS REQUESTED, FOLLOWING IS FULL TEXT OF MR OSWALD CHEUNG'S SPEECH DELIVERED ON MARCH 27.
ARS
+THE BUDGET PROVIDES HKDOLLARS 549 MILLION THIS YEAR FOR DOUBLE TRACKING AND ELECTRIFICATION OF THE KOWLOON CANTON RAILWAY. THE WHOLE PROJECT WILL COST HKDOLLARS 2 BILLION. A VERY LARGE PART OF THIS WILL BE SPENT IN THE UK, WITH WHOM WE HAVE PLACED THE ORDER. FOR THE ROLLING STOCK. WE COULD HAVE PLACED THE ORDER ELSEWHERE. THE ROLLING STOCK FOR THE MTR WAS ALSO SUPPLIED BY THE UK. LIKEWISE WE COULD HAVE PLACED THAT ORDER ELSEWHERE. WE DID NOT DO SO BECAUSE WE BELIEVED IN FOSTERING RECIPROCITY IN TRADE BETWEEN
THE UK AND HONG KONG.
+WITHOUT GOING INTO DETAILS, OTHER LARGE SUMS OUT OF THIS YEAR'S BUDGET WILL BUY BRITISH GOODS AND SERVICES.
+IT HAS COME THEREFORE AS A SURPRISE TO ME THAT IN THE MATTER OF GRANTING LANDING RIGHTS ON THE HONG KONG LONDON AIRROUTE THE CIVIL AVIATION AUTHORITY IN LONDON SHOULD HAVE FORGOTTEN ABOUT RECIPROCITY: RECIPROCITY BOTH AS REGARDS TWO-WAY TRADE, AND RECIPROCITY IN THE SPECIFIC MATTER OF LANDING RIGHTS.
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