XN000022-1972-03-16 — Page 22

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Thursday, March 16, 1972

Mr. Ann said he was deeply impressed some years ago by a Japanese

delegate at an ECAFE meeting when he commented that Japan always

endeavoured to meet overseas market demands by making changes in her line

of exports.

A ready example was the transistorized pocket radio in which

Japan could no longer compete with Hong Kong, Taiwan and South Korea, he cited.

"In this regard, Hong Kong can be no exception," he stressed.

Hong Kong's enamelware industry had dwindled from an export

turnover of $72 million in 1956 to less than half the amount or $32 million

in 1970, he said.

Industry

During the ten-year period 1960 to 1970, it shrank from 2.2 per

cent of the Colony's then total domestic exports to a present day percentage

of 0.26 per cent, he added.

"On the other hand, our early planners saw the possibility of

developing the electronic industry and expanding our garment industry by

trying to penetrate the fashion domain.

"The Ready-to-Wear Festival, which you, Sir, saw ten days ago, is

the result of this exercise," he said.

Mr. Ann attributed Hong Kong's prosperity to the deliberate

laissez faire policy of the Colony.

"In Hong Kong's circumstances any undue interference by Government

will, we all agree, only stifle its growth," he said.

/He commended .............