TUESDAY, OCTOBER 25, 1988
ROOM FOR EXPANSION IN HK-UK TRADE INVESTMENT: GOVERNOR
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THOUGH BILATERAL TRADE BETWEEN THE UNITED KINGDOM AND HONG KONG IS GROWING VERY HEALTHILY, THE OPPORTUNITY EXISTS FOR THE
UK TO EXPAND ITS INVOLVEMENT IN MANUFACTURING AND TO MAKE MORE USE OF THE TERRITORY'S ENTREPOT ROLE, THE GOVERNOR, SIR DAVID WILSON, SAID IN LONDON TODAY (TUESDAY).
IN ADDITION, BRITISH TECHNOLOGY AND MANUFACTURING KNOW-HOW OPERATING IN HONG KONG COULD HELP BRITISH FIRM9 STRENGTHEN THEIR MARKET POSITION IN THE ASIA PACIFIC REGION, SIR DAVID SAID WHEN ADDRESSING A TRADE DEVELOPMENT COUNCIL DINNER.
SIR DAVID SAID HONG KONG WOULD LIKE TO SEE BOTH TRADE AND INVESTMENT RELATIONSHIPS CONTINUE то EXPAND, THOUGH THE OVERALL ECONOMIC RELATIONSHIP WAS IN GOOD SHAPE.
"I SER THIS AS MIRRORING BRITAIN'S CONTINUED POLITICAL COMMITMENT TO THE TERRITORY, CERTAINLY THERE IS NO BASIS FOR THE MYTH THAT THE UK IS GRADUALLY WITHDRAWING FROM HONG KONG," HE SAID.
IN HIS SPEECH ENTITLED "HONG KONG
A FORCE IN WORLD TRADE" + SIR DAVID SAID HONG KONG UK BILATERAL TRADE IN 1987 HAD INCREASED BY 33 PER CENT OVER 1986, AND IN THE FIRST SEVEN MONTHS OF THIS YEAR IT HAD SHOWN A FURTHER 20 PER CENT RISE.
LAST YEAR, THE UK WAS HONG KONG'S FOURTH LARGEST MARKET, TAKING SOME ONE BILLION POUNDS STERLING OF THE TERRITORY'S GOODS. IMPORTS FROM THE UK INCREASED BY 25 PER CENT, ΤΟ A TOTAL OF 915 MILLION POUNDS STERLING.
UK HAD
BUT DESPITE THIS VERY CREDITABLE EFFORT, LAST YEAR THE SLIPPED FROM FIFTH TO SIXTH PLACE IN THE LEAGUE OF HONG KONG'S TRADING PARTNERS
NOW AND THE FEDERAL REPUBLIC OF GERMANY WAS
HONG KONG'S LARGEST TRADING PARTNER IN THE BUROPEAN COMMUNITY.
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'THERE IS CERTAINLY EVIDENCE OF A NEW FOUND AWARENESS OF THE IMPORTANCE OF HONG KONG AMONG THE BRITISH BUSINESS COMMUNITY," HE SAID.
**BUT I - HAVE THE IMPRESSION THAT UNDER-ESTIMATE HONG KONG, BOTH AS A MARKET IN CENTRE FOR REGIONAL TRADE.'
SOMB PEOPLE STILL ITS OWN RIGHT AND A
HE POINTED OUT THAT THE GOODS IMPORTED FROM THE UK LAST YEAR REPRESENTED ONLY THREE PER CENT OF TOTAL IMPORTS.
ON A PER HEAD BASIS, EACH PERSON IN HONG KONG LAST YEAR HAD BOUGHT 163 POUNDS STERLING OF UK GOODS.
REFERRING TO