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THURSDAY, SEPTEMBER 11, 1986
HE SAID: +WE APPRECIATE THE RECOGNITION IN THE EUROPEAN COMMUNITY'S MANDATE ON TEXTILES NEGOTIATIONS THAT SUPPLIERS WITH
WE OPEN MARKETS SHOULD BE GIVEN MORE FAVOURABLE TREATMENT. SINCERELY HOPE THAT THIS VERY APPROPRIATE PROVISION IN THE MANDATE WILL BE TRANSLATED INTO ACTION IN THE HONG KONG-EUROPEAN ECONOMIC COMMUNITY NEGOTIATIONS TO BE HELD IN BRUSSELS LATER THIS MONTH. +
REVIEWING HONG KONG'S ECONOMIC DEVELOPMENTS SINCE HE LAST SPOKE TO A LONDON BUSINESS AUDIENCE, AT THE STOCK EXCHANGE IN JANUARY 1985, SIR EDWARD NOTED THERE HAD BEEN A RESUMPTION IN POSITIVE GROWTH IN DOMESTIC EXPORTS WHICH, IN THE FIRST SIX MONTHS OF THIS YEAR, HAD RISEN BY EIGHT PER CENT.
THE ANNUAL RATE OF INCREASE IN CONSUMER PRICES STOOD AT LESS THAN THREE PER CENT AND THE TERRITORY WAS WELL ON THE WAY TO ACHIEVING THE FORECAST REAL GROWTH RATE OF 4.5 PER CENT IN GOP.
SIR EDWARD SAID THE JOINT LIAISON GROUP SET UP UNDER THE SINO-BRITISH JOINT DECLARATION ON HONG KONG'S FUTURE CONTINUED TO MAKE GOOD PROGRESS. HE REFERRED TO THE PARTICULAR IMPORTANCE OF THE AGREEMENT EARLIER THIS YEAR THAT HONG KONG SHOULD BECOME A CONTRACTING PARTY TO THE GENERAL AGREEMENT ON TARIFFS AND TRADE, AND REMAIN SO AFTER 1997.
+ IT IS A GOOD OMEN FOR THE FUTURE THAT THIS KEYSTONE OF OUR WORLD TRADING POSITION HAS BEEN SET IN PLACE SO QUICKLY. IT AUGURS WELL FOR CONTINUING CO-OPERATION BETWEEN BRITAIN AND CHINA. AND SHOWS A HEARTENING RECOGNITION BY THE WORLD'S TRADING NATIONS OF THE IMPORTANCE OF THE SINO-BRITISH AGREEMENT+, HE SAID.
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HE NOTED THAT THE OPENING UP OF CHINA'S ECONOMY HAD ADDED A NEW DIMENSION TO HONG KONG'S ROLE IN INTERNATIONAL TRADE AND THE OPPORTUNITIES IT COULD OFFER TO BRITAIN. THE TERRITORY'S WELL-DEVELOPED INFRASTRUCTURE AND ITS FINANCIAL AND OTHER SERVICES COULD BE OF DIRECT BENEFIT TO CHINA IN ITS DRIVE TO EXPAND TRADE AND INVESTMENT AND TO BRITISH COMPANIES SEEKING A ROLE IN THAT EXPANS ION.
HONG KONG'S TRADE IN GOODS AND SERVICES WITH CHINA HAD ALREADY INCREASED SUBSTANTIALLY IN RECENT YEARS.
SIR EDWARD ALSO POINTED OUT THAT HONG KONG PRODUCTS HAD INCREAS INGLY EARNED A REPUTATION FOR QUALITY AND RELIABILITY, AND ITS MANUFACTURERS WERE ABLE TO MEET THE REQUIREMENT OF BUYERS IN TERMS OF BOTH COMPETITIVE PRICES AND IN QUALITY AND RELIABILITY OF DELIVERY.
/+THIS HAS ...