THURSDAY, OCTOBER 8, 1987
FUTURE IN OUR HANDS
GOVERNOR
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NOW THE FRAMEWORK FOR OUR FUTURE IS IN PLACE, IT IS. UP ΤΟ US ALL TO MAKE SURE IT WORKS, THE GOVERNOR, SIR DAVID WILSON, SAID TODAY (THURSDAY).
SPEAKING AT A CEREMONY MARKING THE OPENING OF THE REGIONAL MEETING OF THE ASIA PACIFIC COUNCIL OF THE AMERICAN CHAMBERS dF COMMERCE, SIR DAVID SAID: "THE JOINT DECLARATION SEEKS TO ENSURE THAT, WHEN HONG KONG BECOMES A SPECIAL ADMINISTRATIVE REGION OF CHINA ON JULY 1, 1997, ALL THOSE FACTORS WHICH HAVE MADE HONG KONG'S SUCCESS POSSIBLE WILL CONTINUE.
"THESE INCLUDE, FOR EXAMPLE, CONTINUITY OF THE FREE ENTERPRISK CAPITALIST ECONOMY; CONTINUITY OF HONG KONG'S STATUS AS A SEPARATE CUSTOMS TERRITORY; CONTINUITY OF THE LEGAL SYSTEM; FREE CONVERTIBILITY OF THE HONG KONG CURRENCY WITHOUT EXCHANGE CONTROLS; AND GUARANTEES OF PERSONAL RIGHTS AND FREEDOMS."
SIR DAVID SAID QUESTIONS WERE, OF COURSE, STILL ASKED ABOUT HOW ALL THESE ARRANGEMENTS WOULD WORK OUT IN PRACTICE.
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"BUT THE IMPORTANT POINT IS THAT THE FRAMEWORK FOR THE FUTURE IS NOW IN PLACE. IT IS NOW UP TO US ALL TO MAKE SURE THAT IT WORKS, HE SAID.
SIR DAVID NOTED THAT GOOD PROGRESS WASALREADY BEING MADE IN IMPLEMENTING THE PROVISIONS OF THE JOINT DECLARATION, CITING HONG KONG'S STATUS AS A SEPARATE CONTRACTING PARTY TO THE GENERAL AGREEMENT ON TARIFFS AND TRADE AS WELL AS ITS MEMBERSHIP OF THE CUSTOMS COOPERATION COUNCIL.
TURNING TO TRADE, THE GOVERNOR STRESSED: "WE IN HONG KONG ARE FIRM BELIEVERS IN FREE TRADE."
HE SAID DURING HIS VISIT TO THE UNITED STATES LATER THIS MONTH HE WOULD MEET ADMINISTRATION OFFICIALS, CONGRESSMEN AND BUSINESS LEADERS.
"ONE OF THE MESSAGES THAT I SHALL TRY OPENNESS OF HONG KONG'S ECONOMY AND THE SCOPE BILATERAL TRADE AND ECONOMIC TIES, HE SAID.
TO GET ACROSS IS THE FOR EXPANSION IN OUR
ON HONG KONG'S CLOSE ECONOMIC TIES WITH THE U.S., SIR DAVID SAID: "LAST YEAR THE U.S. WAS OUR LARGEST OVERSEAS MARKET AND OUR FOURTH MOST IMPORTANT SUPPLIER.
"IT WAS THE SINGLE INVESTMENT IN HONG KONG."
LARGEST SOURCE OF OVERSEAS
/HE NOTED
INDUSTRIAŁ