THURSDAY, OCTOBER 28, 1982
19
DUKE CONFIDENT ABOUT HK
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UK TRADE
HIS ROYAL HIGHNESS THE DUKE OF KENT TODAY EXPRESSED TOTAL CONFIDENCE IN THE FUTURE OF TRADE BETWEEN BRITAIN AND HONG KONG.
ADDRESSING A LUNCHEON OF THE HONG KONG GENERAL CHAMBER OF COMMERCE, THE DUKE SAID HONG KONG AND BRITAIN HAD MUCH TO OFFER ONE ANOTHER.
ALSO PRESENT AT THE LUNCHEON WERE THE DUCHESS, THE GOVERNOR AND LADY YOUDE.
HIS ROYAL HIGHNESS NOTED THAT HONG KONG HAD OVER THE PAST 30 YEARS EARNED A REPUTATION FOR ITS BUOYANT ECONOMY WHICH HAD BEEN JUSTIFIED MANY TIMES OVER.
ONE ONLY HAD TO LOOK AROUND TO SEE WHAT HONG KONG'S TRADING FLAIR HAS CREATED TO FIND PROOF, IF ANY WERE NEEDED, THAT FREE TRADE IS A GENERATOR OF PROSPERITY ON A GRAND SCALE, HE SAID.
+AND NOTWITHSTANDING THE TRENDS OF RECENT DAYS AND WEEKS, THIS REMARKABLE ECONOMIC RECORD SHOULD INSPIRE CONFIDENCE IN HONG KONG'S LASTING STRENGTH AND RESILIENCE, HE ADDED.
THE DUKE NOTED THAT HONG KONG HAD RECENTLY OVERTAKEN JAPAN TO BECOME BRITAIN'S LARGEST FAR EASTERN MARKET. BUT EVEN SO, HE ADDED, BRITAIN AS THE SIXTH LARGEST SUPPLIER STILL ONLY HAS ABOUT FIVE PER CENT OF THE HONG KONG MARKET.
+BUT OUR EXPORTERS ARE NOT GOING TO BE SATISFIED TO REMAIN IN THAT POSITION, AND IF OUR PERFORMANCE IN RECENT YEARS, ESPECIALLY ON THE PROJECT SIDE, IS ANYTHING TO JUDGE BY, WE SHOULD BE WELL PLACED TO MOVE UP THE LADDER, HE SAID.
THE DUKE MENTIONED THE CASTLE PEAK A AND B POWER STATION ORDERS, BRITISH PARTICIPATION IN THE MASS TRANSIT AND KOWLOON-CANTON RAILWAYS AND OTHER ORDERS LIKE THE STEEL WORK FOR THE NEW HONG KONG AND SHANGHAI BANKING CORPORATION BUILDING, AS +FIRST-CLASS EXAMPLES OF HOW UK INDUSTRY CAN DESIGN AND DELIVER THE BEST IN MODERN TECHNOLOGY.+
BRITAIN WOULD CONTINUE TO COMPETE FOR PROJECT BUSINESS WITH OTHER COUNTRIES ANXIOUS TO WIN THESE LARGE CONTRACTS, HE SAID.
+WHEN WE HAVE WON SUCH CONTRACTS -- AND WE HAVE WON MANY WE HAVE DONE SO BECAUSE AFTER INTENSE COMPETITION AND CLOSE SCRUTINY THE TOTAL BRITISH PACKAGE WAS FOUND TO BE THE BEST VALUE, HE EXPLAINED.
POINTING OUT ANOTHER AREA OFFSHORE OIL DEVELOPMENT --- WHERE BRITAIN HAS A UNIQUE CAPABILITY, THE DUKE SAID BRITISH COMPANIES WOULD BE CONCENTRATING THEIR MARKETING ON CHINA WHOSE OIL IT IS AND WHERE THE MAIN SUPPORT AND SUPPLY INDUSTRY WILL LIE.
+BUT THERE IS NO DOUBT THAT BRITISH FIRMS WILL SEE HONG KONG COMPANIES AS VALUABLE PARTNERS IN CERTAIN AREAS OF EQUIPMENT AND SUPPLY, HE ADDED.
/ON EXPORT ***.