XN000022-1985-07-01 — Page 7

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ON

MOND...

لا

Y 1, 1985

ON THE INTERNATIONAL FRONT HONG KONG IS PARTICIPATING FULLY

AT IN DISCUSSIONS WITH OTHER DEVELOPING COUNTRIES IN GENEVA. LEAST TWO NEW INITIATIVES WERE BEING PLANNED,

+LOOKING AHEAD TO JULY, WE ENVISAGE THAT THERE WILL BE A NUMBER OF DEVELOPMENTS,+ SAID MR FOOTMAN.

+WE ARE CONFIDENT THAT OPPOSITION TO THE BILL WILL GROW AS U.S. INTERESTS REALISE THE TRUE NATURE OF THE BILL AND ITS IMPLICATIONS. BUT THERE ARE ALSO DANGERS, THE SENATE WILL HOLD HEARINGS ON THE BILL ON JULY 15 AND THAT WILL BE AN IDEAL FORUM FOR PROPONENTS OF THE BILL. DISCUSSIONS CONCERNING ARRANGEMENTS WHICH WILL FOLLOW THE EXPIRY OF THE MULTI-FIBRE ARRANGEMENT WILL COMMENCE IN GENEVA ON JULY 23. IT IS TO BE EXPECTED THAT THE TEXTILE CAUCUS WILL MOUNT A FURTHER MAJOR INITIATIVE IN THE CONTEXT OF THIS BILL TO CONSTRAIN THE U.S. NEGOTIATORS IN GENEVA.+

HK'S ECONOMY NO NEED FOR CHANGE

****

HONG KONG'S ECONOMY IS OPEN AND MARKET-ORIENTED, AND THE GOVERNMENT SEEKS TO INTERVENE ONLY WHERE PRUDENT REGULATION AND THE GOOD NAME OF HONG KONG SO REQUIRES, THE SECRETARY FOR ECONOMIC SERVICES, MR GERALD HIGGINSON, SAID TODAY (MONDAY).

SPEAKING AT THE OPENING CEREMONY OF A MEETING OF THE UNESCO REGIONAL NETWORK OF MICROBIOLOGY, MR HIGGINSON TRACED THE TRANSFORMATION OF HONG KONG FROM A SMALL TRADING PORT TO A THRIVING INDUSTRIAL AND MANUFACTURING ECONOMY AND AN INTERNATIONAL FINANCIAL CENTRE.

+IN HONG KONG. WE HAVE AN ECONOMY AND AN ATMOSPHERE WHICH IS WELCOMED BY OVERSEAS BUSINESSMEN AS IT IS ONE IN WHICH THEY CAN FEEL AT HOME BOTH PERSONALLY AND IN THE IR BUSINESS ACTIVITIES,+ HE SAID.

REFERRING TO THE JOINT DECLARATION ON THE FUTURE OF HONG KONG, MR HIGGINSON SAID IT HAD RETAINED THE FEATURES OF AN EFFICIENT ECONOMIC INFRASTRUCTURE, TOGETHER WITH THE RIGHTS AND FREEDOM OF THE PEOPLE.

+ THE ESSENCE OF THE AGREEMENT IS THAT IT PROVIDES FOR THE CONTINUATION OF THOSE CHARACTERISTICS WHICH HAVE CONTRIBUTED TO HONG KONG'S SUCCESS IN THE PAST AND, AS SUCH, IT REMOVES MUCH OF THE UNCERTAINTY ABOUT THE FUTURE,+ HE ADDED.

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