THURSDAY, NOVEMBER 20,
20, 1986
SIR DAVID DETAILS RAPID GROWTH IN TRADE WITH BELGIUM
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TRADE BETWEEN HONG KONG AND BELGIUM IN THE FIRST EIGHT MONTHS OF 1986 INCREASED RAPIDLY TO OVER U.S.$280 MILLION, 23 PER CENT MORE THAN IN THE SAME PERIOD LAST YEAR.
THE SUDDEN SURGE COMPARED WITH AN ANNUAL GROWTH RATE OF LESS THAN ONE PER CENT IN THE PREVIOUS FIVE YEARS.
THE SIGNIFICANCE OF THIS INCREASE IN TWO-WAY TRADE WAS HIGHLIGHTED BY THE CHIEF SECRETARY, SIR DAVID AKERS-JONES, AT A LUNCHEON RECEPTION HELD IN BRUSSELS TODAY (THURSDAY) TO ANNOUNCE THE FORMATION OF THE BELGIUM-HONG KONG SOCIETY THERE.
SIR DAVID SAID THE INCREASE NOT ONLY REFLECTED A RISING TREND IN BELGIUM'S TRADE WITH THE FAR EAST BUT ALSO SHOWED THAT THE HONG KONG ECONOMY WAS GOING THROUGH ANOTHER CYCLE OF EXPANSION, ECONOMIC GROWTH WAS FORECAST TO REACH 5.6 PER CENT THIS YEAR, COMPARED WITH 0.8 PER CENT IN 1985, HE NOTED.
+BUT PERHAPS THE MOST SIGNIFICANT ECONOMIC FACTOR, AND THE ONE WHICH IS AN IMPORTANT INDICATOR OF THE POLITICAL MOOD - THE CONFIDENCE FACTOR - IS THE SIGNIFICANT REVIVAL IN INVESTMENT INTENTIONS, + HE SAID.
IN ADDITION TO CONTINUING EXPANSION OF PRIVATE INVESTMENT. SIR DAVID SAID THE GOVERNMENT WAS ALSO INVESTING IN, AND DEVELOPING THE PHYSICAL INFRASTRUCTURE OF HONG KONG, BUILDING ROADS, TUNNELS, BRIDGES AND WHARVES.
BEING
HE POINTED OUT THAT HONG KONG. BE ING AN OPEN AND UNRESTRICTED MARKET FOR FOREIGN GOODS, ALSO OFFERED OPPORTUNITIES FOR INVESTMENT AND TRADE IN SERVICES TO SERVE THE WHOLE PACIFIC REGION,
NOTING THAT BELGIAN INTERESTS HAD BEEN PRESENT IN HONG KONG'S BANKING, FINANCIAL, INSURANCE AND MANUFACTURING SECTORS FOR A CONSIDERABLE TIME, SIR DAVID SAID THAT THERE WAS AN ADDED DIMENSION: FOR THOSE WISHING TO DO BUSINESS WITH CHINA, HONG KONG HAD NOT ONLY THE EXPERTISE AND THE NECESSARY FACILITIES.
+ IT ALSO HAS THE IRREPLACEABLE ADVANTAGE OF PROXIMITY TO THIS GROWING MARKET, AND A KNOWLEDGE OF THE LANGUAGE AND COMMERCIAL CHARACTERISTICS, MECHANISMS AND LAWS OF CHINA, HE SAID.
ON THE FUTURE OF HONG KONG, SIR DAVID EXPLAINED THAT IT IS THE OBJECTIVE OF THE JOINT DECLARATION THAT THE SYSTEM - THE FAMILIAR HONG KONG SYSTEM OF LAWS, FREEDOMS, RELATIONSHIPS AND CAPITAL IST ECONOMY - SHOULD CONTINUE FOR 50 YEARS AFTER 1997.+
IN SAID