22
Thursday, March 16, 1972
Mr. Ann said he was deeply impressed some years ago by a Japanese
delegate at an ECAFE meeting when he commented that Japan always
endeavoured to meet overseas market demands by making changes in her line
of exports.
A ready example was the transistorized pocket radio in which
Japan could no longer compete with Hong Kong, Taiwan and South Korea, he cited.
"In this regard, Hong Kong can be no exception," he stressed.
Hong Kong's enamelware industry had dwindled from an export
turnover of $72 million in 1956 to less than half the amount or $32 million
in 1970, he said.
Industry
During the ten-year period 1960 to 1970, it shrank from 2.2 per
cent of the Colony's then total domestic exports to a present day percentage
of 0.26 per cent, he added.
"On the other hand, our early planners saw the possibility of
developing the electronic industry and expanding our garment industry by
trying to penetrate the fashion domain.
"The Ready-to-Wear Festival, which you, Sir, saw ten days ago, is
the result of this exercise," he said.
Mr. Ann attributed Hong Kong's prosperity to the deliberate
laissez faire policy of the Colony.
"In Hong Kong's circumstances any undue interference by Government
will, we all agree, only stifle its growth," he said.
/He commended .............