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changing patterns of trade. We are no longer quite so
dependent on our traditional markets in North America and
Europe. Trade with the Asian region now represents about
60% of our total trade.
The figures also highlight the hub role which Hong
Kong now plays in the region A hub position partly
determined by geography and partly by our own determination
to remain the super port of Asia.
way.
And we are building for the future, in a very big
Last week, I announced our decision to build a new
international airport in Hong Kong. Those of you familiar
with the existing airport at Kai Tak may be disappointed.
In less than eight years time you will no longer be able to
enjoy the excitement of that low swoop over the rooftops of
Kowloon and the sharp righthand turn down to the tarmac.
Instead you will land on one of the two runways at a new
airport built on what is mostly now sea, just to the north
of Lantau Island. You will be whisked by rapid transit
along the back of the island through a chain of bridges and
tunnels into the heart of the city.
This is a key project for Hong Kong. We have
taken great care about the decision. The project is huge,
very expensive and we need to get it right. The decision is