Performance in the West Pacific/SE. Region
1978 was also a good year for our trade with the countries
in the Far Eastem and Southeast Asian region. Our domestic exports to the region this decade have been growing at an average of 16 per
cent a year.
But last year they grew by 30 per cent in money terms as
I do not against a growth in our world-wide trade of 16 per cent. know if this diversification of markets will be permanent but it is
certainly welcome.
This success was achieved in spite of the fact that in the region regrettably most countries still protect their markets with
trade barriers.
Even in Japan, where no governmental impediment exists,
there has been some invisible factor at work that has denied our
exporters the success they have achieved in other markets.
bewilderment at this situation that prompted Sir Y.K. Kan's economic
mission.
It was our
I can only hope that after the sympathetic hearing it received,
a botter relationship between our businessmen can be built up that will render Hong Kong/Japan trade less lop-sided. Obviously this will take
both persistence, effort and time.
China
But I am sure you will all agree, and particularly in the light
of the Chamber's om visit, that developments in China during the past year dominate all others in significance for this region and for Hong
Kong, and are of great importance for the world at large.
/Vigorous.....