XN000022-1984-12-11 — Page 6

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TUESDAY, DECEMBER 11, 1984

SIR EDWARD SAID THAT THOUGH HONG KONG MIGHT NOT HAVE +THE NEGOTIATING MUSCLE OF THE MAJOR ECONOMIES,+ HE HOPED THAT HONG KONG INTERESTS WOULD NOT BE OVERLOOKED BY THE JAPANESE AUTHORITIES AS THEIR DOORS WERE OPENED WIDER.

+1 WOULD LIKE TO THINK THAT JAPAN WOULD STAND TO BENEFIT FROM HONG KONG'S EXPERTISE AND EXPERIENCE IN THE SAME WAY AS HONG KONG HAS BENEFITED FROM THE PRESENCE OF JAPANESE FINANCIAL CONCERNS

IN HONG KONG,+ SIR EDWARD SAID.

HONG KONG, HE SAID, WAS NOT AFRAID OF INCREASED. COMPETITION IN FINANCIAL SERVICES. THIS REGION WOULD, HE WAS SURE, CONTINUE TO BE ONE OF THE WORLD'S MAIN GROWTH AREAS FOR A LONG TIME TO COME. AND THE ASSOCIATED DEMAND FOR FINANCIAL SERVICES SHOULD CREATE AMPLE OPPORTUNITIES FOR MANY.

+I BELIEVE, THEREFORE, THAT HONG KONG CAN LOOK TO THE FUTURE WITH CONFIDENCE. THE DRAFT AGREEMENT BETWEEN THE UNITED KINGDOM AND THE PEOPLE'S REPUBLIC OF CHINA SIGNIFIES A BINDING COMMITMENT ON THE PART OF BOTH GOVERNMENTS TO IMPLEMENT ALL THE PROVISIONS OF THE AGREEMENT.

+I HAVE NO DOUBT THAT THEY WILL DO SO, AS I ALSO HAVE NO DOUBT THAT THE PEOPLE OF HONG KONG CAN BUILD A SUCCESSFUL FUTURE ON ITS FOUNDATION, SIR EDWARD SAID.

IT WAS ALSO IN THE WIDER INTERNATIONAL INTERESTS THAT THE AGREEMENT SHOULD BE A SUCCESS.

+ IN A WORLD WHERE PROBLEMS BETWEEN NATIONS OFTEN PROVE SO INTRACTABLE AND INCAPABLE OF NEGOTIATED SETTLEMENT, THE AGREEMENT ON THE FUTURE OF HONG KONG IS AN EXAMPLE OF WHAT CAN BE ACHIEVED BY NEGOTIATION WHEN THERE IS THE NEED AND THE WILL TO SUCCEED, + SIR EDWARD SAID.

THERE WAS SCOPE FOR DEVELOPING FURTHER THE ECONOMIC LINKS BETWEEN JAPAN AND HONG KONG, AND FOR BOTH TO BENEFIT FROM THE FUTURE GROWTH IN THE ECONOMIES OF CHINA AND THE COUNTRIES IN THE PACIFIC RIM.

+HONG KONG FOR ITS PART IS DETERMINED TO TAKE FULL ADVANTAGE OF THESE OPPORTUNITIES, SIR EDWARD SAID.

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