XN000022-1985-01-17 — Page 4

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ليا

THURSDAY, JANUARY 17,

HONG KONG HOPED, THE GOVERNOR SAID, THAT THE UNITED STATES WOULD RESPOND FAVOURABLY BEFORE LONG TO HONG KONG'S REPRESENTATIONS +ITHIN THE SPIRIT AND THE LETTER OF OUR BILATERAL AGREEMENT AND THE MFA.+

IN THIS CONTEXT, SIR EDWARD SAID, HONG KONG WAS ENCOURAGED BY THE UNITED STATES GOVERNMENT'S DECISION TO CONTINUE TO ACCEPT HONG KONG AS A BENEFICIARY OF THE U.S. GENERALISED SYSTEM OF PREFERENCES UNDER THE RECENTLY ENACTED TRADE AND TARIFF ACT.

+THIS STATUS IS IMPORTANT TO US, THE GOVERNOR SAID.

+ IN 1983 ABOUT U.S.$1.1 BILLION WORTH OF IMPORTS FROM HONG KONG BENEFITED FROM THE GENERALISED SYSTEM OF PREFERENCES.

HE NOTED THAT THERE WERE PROVISIONS IN THE ACT REQUIRING THE U.S. PRESIDENT TO REVIEW THE PRODUCTS AND IMPORTS FROM BENEFICIARY TERRITORIES UNDER THE NEW SYSTEM, AND SAID HONG KONG WOULD GIVE ITS FULL COOPERATION TO ANY SUCH REVIEW.

SIR EDWARD SAID THAT THE U.S. WAS THE LARGEST SOURCE OF OVERSEAS INVESTMENT IN HONG KONG'S MANUFACTURING INDUSTRY, ACCOUNTING FOR 54 PER CENT OF THE TOTAL.

THERE WERE 130 FACTOR IES IN HONG KONG WHOLLY OR PARTLY OWNED BY U.S. INTERESTS, EMPLOYING 39 700 WORKERS, OR OVER FOUR PER CENT OF THE INDUSTRIAL WORKFORCE. THEIR SALES IN 1983 AMOUNTED TO U.S.$1.68 BILLION, NEARLY 10 PER CENT OF HONG KONG'S DOMESTIC EXPORTS IN THE YEAR, SIR EDWARD SAID.

BY ANY STANDARDS, HE SAID, HONG KONG WAS ABLE TO OFFER A STRONG PROSPECTUS TO THOSE SEEKING TO DO BUSINESS HERE.

REFERRING TO THE SINO-BRITISH NEGOTIATIONS ON THE FUTURE OF HONG KONG, SIR EDWARD SAID THAT DURING THAT PERIOD, THE WORLD SAW A QUESTION MARK OVER OUR FUTURE AFTER 1997.+

IT TOOK TWO YEARS OF NEGOTIATION, OFTEN DIFFICULT AND ALWAYS INTENSIVE. BETWEEN CHINA AND THE UNITED KINGDOM TO PRODUCE THE

HONG ANSWER. AND DURING THE NEGOTIATIONS, CONDUCTED IN CONFIDENCE, KONG PASSED THROUGH SOME ROUGH WATER, HE SAID.

THROUGHOUT, THE HONG KONG POPULATION AND THE REST OF THE WORLD COULD ONLY GUESS AT THE OUTCOME.

+WHEN IT EMERGED, THE SINO-BRITISH AGREEMENT PROVED A TRIBUTE TO GOOD SENSE. IT OWED MUCH TO THE IMAGINATION OF CHINESE LEADERS WHO RECOGNISED THAT, IF THE CONFIDENCE ON WHICH THE STABILITY AND PROGRESS OF HONG KONG DEPENDS IS TO BE MAINTAINED, HONG KONG NEEDS TO CONTINUE WITH ITS OWN DISTINCTIVE ECONOMIC AND SOCIAL SYSTEM,+ SIR EDWARD SAID.

/GIVING SUME