XN000022-1983-01-21 — Page 3

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FRIDAY, JANU MY 21, 1983

THE THIRD FUNDAMENTAL POINTED OUT BY SIR EDWARD IS THAT THE TALKS ARE BEST KEPT CONFIDENTIAL.

+LET ME REPEAT AND EMPHASISE THAT PEOPLE SHOULD NOT BE PREJUDICED BY WHAT THEY HEAR SAID OUTSIDE THE ACTUAL NEGOTIATIONS,

+OF COURSE DIFFERENCES NEED TO BE RECONCILED. THAT IS WHAT THE TALKS ARE FOR. REMAIN CONVINCED THAT THEY CAN BE RECONCILED AND THAT CONFIDENTIAL TALKS ARE THE RIGHT AND MOST EFFECTIVE WAY OF DOING SO,+ SIR EDWARD SAID.

SIR EDWARD, WHO IS LEAVING FOR LONDON THIS EVENING, DISCLOSED THAT HE WOULD DISCUSS THESE AND OTHER QUESTIONS WITH THE BRITISH GOVERNMENT DURING HIS VISIT THERE.

RETURNING TO ECONOMIC ISSUES, SIR EDWARD SAID THAT WHILE HONG KONG COULD NOT BE IMMUNE TO THE EFFECTS OF GLOBAL RECESSION, IT NOW HAS NEW STRENGTHS WHICH CAN HELP HONG KONG THROUGH THE CURRENT DIFFICULT TIMES.

AS EXAMPLES, SIR EDWARD POINTED OUT THAT IN RECENT YEARS HONG KONG'S MANAGERIAL AND PROFESSIONAL RESOURCES HAVE BEEN GREATLY STRENGTHENED AND THE TRAINING OF ITS WORK FORCE IMPROVED.

THE ECONOMY HAS BEEN DIVERSIFIED AND THE RANGE OF THE FINANCIAL FACILITIES HONG KONG CAN OFFER HAS GROWN, HE WENT ON.

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THESE STRENGTHS, HE SAID, HAVE BEEN ADDED TO THE NATURAL AND OTHER ADVANTAGES WHICH HAVE BROUGHT HONG KONG THROUGH DIFFICULT TIMES BEFORE THE ENTERPRISE OF HONG KONG'S ENTREPRENEURS, THE WILLINGNESS OF THE WORK FORCE TO WORK HARD, GOVERNMENT POLICIES CONDUCIVE TO THE DEVELOPMENT OF PRIVATE BUSINESS AS WELL AS THE SOCIAL GOOD, AND HONG KONG'S POSITION AS AN INTERNATIONAL COMMUNICATIONS CENTRE.

+ IT IS THEREFORE WELL TO REMEMBER THAT IF THE WEATHER IS ROUGH, THE SHIP IS SOUND, HE EMPHASISED.

NOR HAS THE BAD WEATHER DEFLECTED THE HONG KONG GOVERNMENT FROM ITS DECLARED INTENTION TO CONTINUE TO INVEST VIGOROUSLY IN THE FUTURE, SIR EDWARD EMPHASISED.

HE POINTED OUT THAT GOVERNMENT INVESTMENT PLANS ARE STILL ON TARGET AND THERE IS NO REASON WHY THEY SHOULD NOT REMAIN SO.

+NOR SHALL WE STAND STILL. WE SHALL KEEP UNDER CONSTANT REVIEW THE NEW PROBLEMS WHICH ARE ARISING AND CONSIDER WHAT CONTRIBUTION GOVERNMENT, WITHOUT DEPARTING FROM THOSE FUNDAMENTAL PRINCIPLES WHICH HAVE UNDERLAIN THE ECONOMIC GROWTH OF THIS TERRITORY, CAN AND SHOULD MAKE TO THEIR SOLUTION, SIR EDWARD PLEDGED.

THE GOVERNMENT, IN CONSULTATION WITH THE PRIVATE SECTOR, WILL ALSO CONTINUE TO DEFEND HONG KONG'S COMMERCIAL INTERESTS OVERSEAS TO +THE UTMOST OF OUR ABILITY, AS WE HAVE DONE IN THE RECENT NEGOTIATIONS ON THE MULTI FIBRE ARRANGEMENT, HE ADDED.

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