MONDAY, MAY 26, 1986
* A GOVERNMENT FULLY COMMITTED TO A FREE MARKET
ECONOMY WITH NO UNNECESSARY INTERFERENCE IN ANY SECTOR OF THE ECONOMY:
★ INDUSTRIOUS AND QUICK-TO-LEARN WORKERS; AND
* WELL TRAINED AND EXPERIENCED MANAGEMENT EXECUTIVES
WHO ARE FULLY FAMILIAR WITH INTERNATIONAL TRADING AND COMMERCIAL PRACTICES.
SIR EDWARD ADDED THAT HONG KONG COULD PROVIDE A CONVENIENT AND EFFECTIVE BASE FOR TRADE AND INVESTMENT IN CHINA, PARTICULARLY WITH REGARD TO ITS SOUTHERN REGIONS NEAR HONG KONG,
+HONG KONG IS WELL PLACED TO ASSIST IN FACILITATING JAPANESE TRADE AND INVESTMENT WITH CHINA, TO THE MUTUAL BENEFIT OF ALL CONCERNED, + HE SAID.
REFERRING TO MUCH IMPROVED TECHNOLOGICAL FACILITIES, SIR EDWARD EMPHASISED THE OPPORTUNITIES WHICH HONG KONG OFFERED TO JAPAN AS A BASE FOR OFF-SHORE MANUFACTURING OPERATIONS INVOLVING HIGHER TECHNOLOGICAL PROCESSES RATHER THAN SIMPLY AS A BASE FOR ASSEMBLY WORK.
GIVEN HONG KONG'S ENHANCED ABILITY TO PRODUCE QUALITY PRODUCTS, GOOD INDUSTRIAL DESIGN AND HIGH STANDARD EQUIPMENT CALIBRATION SERVICES, HE URGED JAPANESE MANUFACTURERS TO INVEST IN THE METALS, LIGHT ENGINEERING AND PLASTICS INDUSTRIES WHICH HAD GOOD EXPORT PROSPECTS BOTH DIRECTLY AND BY SUPPLYING HONG KONG ELECTRONIC INDUSTRIES.
HE ADDED THAT JAPANESE MANUFACTURERS OF ELECTRONIC MEASUREMENT EQUIPMENT WOULD ALSO FIND GOOD OPPORTUNITIES IN HONG KONG AS ITS ELECTRONIC FIRMS PROVIDED A READY LOCAL CLIENTELE.
ON HONG KONG'S TRADE WITH JAPAN, SIR EDWARD SAID THERE WAS CONCERN ABOUT THE GAP THAT EXISTED.
HE POINTED OUT THAT THE VALUE OF TRADE BETWEEN HONG KONG AND JAPAN HAD INCREASED BY 67 PER CENT IN THE PAST FIVE YEARS TO OVER US$8.1 BILLION IN 1985, BUT THE RATIO OF IMPORTS FROM JAPAN TO DOMESTIC EXPORTS TO JAPAN HAD INCREASED FROM 10 TO ONE IN 1983 TO 12 TO ONE IN 1985.
HE SAID AS A FIRM BELIEVER OF FREE TRADE, HONG KONG MADE NO COMPLAINT ABOUT JAPANESE EXPORTS TO IT, BUT THERE WAS DEEP CONCERN OVER THE GREAT DIFFICULTY OF OBTAINING ENTRY FOR HONG KONG PRODUCTS INTO THE JAPANESE MARKET.
+WE FOR