WEDNESDAY, JULY 11, 1984
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WHILE STRESSING IT IS VITAL FOR HONG KONG TO MAINTAIN ITS GATT RIGHTS, MR BLYE NOTED THAT THE GATT OPERATES BY CONSENSUS AND THE DEVELOPMENT OF A CONSENSUS AGAINST HONG KONG COULD EFFECTIVELY DISPOSSESS IT OF ITS STATUS IN THAT BODY.
BUT HE ADDED, IN THIS CONNECTION, WE CAN ALL BE ENCOURAGED BY THE RECENT PUBLIC STATEMENTS MADE SEPARATELY BY THE CONSULS GENERAL OF THE UNITED STATES OF AMERICA AND JAPAN THAT THEIR GOVERNMENTS GOVERNMENTS OF TWO OF OUR LARGEST TRADING PARTNERS SUPPORT HONG KONG'S CONTINUED PARTICIPATION IN GATT AND OTHER INTERNATIONAL ORGANISATIONS.+
HE ALSO STRESSED THE NEED TO RETAIN AN INSTITUTIONAL FRAMEWORK WHICH IS FLEXIBLE AND WHICH DOES NOT STIFLE ENTERPRISE,
+ IT IS NOT EASY TO BE PRECISE ABOUT WHAT IS NECESSARY TO ENSURE OUR CONTINUED ECONOMIC PROSPERITY AND STABILITY AND TO PRESERVE THE SPECIAL MAGIC THAT IS HONG KONG.
+BUT WE HAVE A STRONG FOUNDATION AND, PROVIDED THE ECONOMIC SYSTEM THAT HAS SERVED US SO WELL CONTINUES, WE HAVE AMPLE CAUSE FOR OPTIMISM, + MR BLYE STATED.
WORD SOUGHT ON HK'S FUTURE TRADING STATUS
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THE GOVERNMENT WAS URGED TODAY TO SET UP A WORKING GROUP TO OBTAIN CLARIFICATION FROM THE UNITED STATES, JAPAN AND THE EEC ON WHETHER THEY WOULD CONTINUE TO TREAT HONG KONG AS AN INTERNATIONAL FREE TRADING PORT IN 1997.
THE CALL WAS MADE BY UNOFFICIAL MEMBER THE HON ALLEN LEE, IN MOVING THE ADJOURNMENT DEBATE ON THE ECONOMIC SYSTEM AND THE FUTURE OF HONG KONG+ IN THE LEGISLATIVE COUNCIL.
HE SAID IT WAS IMPORTANT TO MAKE IT ABSOLUTELY CLEAR THAT +AS WE MOVE INTO THE FUTURE THE PEOPLE OF HONG KONG WILL BE GIVEN THE OPPORTUNITY TO ENJOY CONTINUED ECONOMIC SUCCESS RATHER THAN GETTING INVOLVED IN WORLD POLITICAL ENTANGLEMENTS WHICH ARE TOTALLY OUT OF OUR CONTROL AND WHICH WOULD AFFECT OUR ECONOMIC SURVIVAL.+
THERE WAS NO QUESTION TODAY, HE SAID, THAT THE MANUFACTURING INDUSTRY WAS THE MAINSTAY OF THE ECONOMY, IT ACCOUNTED FOR ABOUT 25 PER CENT OF GROSS DOMESTIC PRODUCT AND EMPLOYED ABOUT 36 PER CENT OF THE TOTAL LABOUR FORCE.
+THE CONTRIBUTION OF THE MANUFACTURING INDUSTRY SHOULD ALSO BE ASSESSED IN TERMS OF ITS SUPPORTIVE EFFECTS ON OTHER SECTORS OF THE ECONOMY, SUCH AS SHIPPING, INSURANCE, BANKING AND COMMERCE,+ SAID MR LEE.
/+I WOULD