XN000022-1984-10-25 — Page 18

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THURSDAY, OCTOBER 25, 1984

+THEREFORE WE MUST IMPROVE THE QUALITY OF OUR PRODUCTS AND EFFICIENCY OF OUR INDUSTRIES.

+WE MUST ALSO KEEP UP OUR FINE RECORD OF TRADE PROMOTION TO MAINTAIN OUR MARKET SHARE,+ HE SAID.

MR POON SAID HONG KONG'S FINANCIAL SUCCESS DEPENDED A LOT ON EXPORTS, WHICH WERE VULNERABLE IN THE FACE OF A GROWING TREND TOWARDS PROTECTIONISM AND A SLOWING DOWN OF ECONOMIC GROWTH IN ITS MAJOR MARKETS.

THE RECENT RULES ON COUNTRY OF ORIGIN FOR IMPORT OF GARMENTS AND TEXTILES INTO THE UNITED STATES HAD STRUCK A HEAVY BLOW TO HONG KONG.

MEANWHILE, HONG KONG WAS LUCKY THAT THE PROPOSED NEW CRITERIA FOR THE US GENERALISED SCHEME OF PREFERENCES WHICH WOULD CLASSIFY THE TERRITORY AS A MEDIUM GDP TERRITORY AND RESULT IN REDUCTION OF PREFERENTIAL TREATMENT, WAS NOT APPROVED AND THE SCHEME EXPIRING IN JANUARY, 1985, WAS RENEWED FOR A FURTHER PERIOD OF ABOUT EIGHT YEARS.

+THOUGH WE CAN HAVE A TEMPORARY SIGH OF RELIEF, THIS SHOWS HOW EXTERNAL FACTORS CAN CAUSE GREAT DAMAGE TO OUR COMPETITIVENESS,

+ IN THIS REGARD, THE EFFORTS OF BOTH GOVERNMENT AND THE REPRESENTATIVES OF OUR INDUSTRIES WHO FOUGHT SO HARD TO PROTECT OUR RIGHTS UNDER GATT AND MFA ARE HIGHLY APPRECIATED,+ MR POON SAID.

HONG KONG ENTERING A STAGE OF STEADY GROWTH

******

P.K. YEUNG

HONG KONG IS ENTERING A STAGE OF STEADY DEVELOPMENT, THE HON YEUNG PO-KWAN SAID IN SUPPORT OF THE MOTION OF THANKS ON THE GOVERNOR'S ADDRESS, IN THE LEGISLATIVE COUNCIL TODAY (THURSDAY).

HE SAID THE SEEMINGLY CONSERVATIVE ADDRESS AS A WHOLE MENTI. POLICY CHANGES WHICH ECHOED THE MESSAGE OF THE SINO-BRITISH DRAFT AGREEMENT AND THE PROPOSALS IN THE GREEN PAPER ON FURTHER DEVELOP OF REPRESENTATIVE GOVERNMENT IN HONG KONG.

+ IT ALSO BRINGS OUT THE FACT THAT THE GOVERNMENT WANTS TO MAN. KNOWN TO THE PEOPLE ITS CONFIDENCE TOWARDS THE FUTURE OF HONG KONG THROUGH ITS DETERMINED TONE AND PRAGMATIC ACTIONS, AS CAN BE SEEN IN THE ADDRESS, + HE SAID.

MR YEUNG QUESTIONED HOW COULD THE HONG KONG SYSTEM REMAIN UNCHANGED FOR 50 YEARS AFTER 1997 IF WE COULD NOT EFFECTIVELY *AINTAIN A FIRM AND STABLE GOVERNMENT IN THE NEXT 13 YEARS?

/TO MAINTAIN