XN000022-1986-01-19 — Page 2

SUNDAY, JANUARY 19, 1986

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PROTECTIONISM STILL BIG WORRY - SIR EDWARD

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THIS YEAR WILL BE VERY IMPORTANT FOR HONG KONG'S TEXTILE AND APPAREL TRADE, WITH PROTECTIONISM IN THE MAJOR MARKETS REMAINING OF PARTICULAR CONCERN, THE GOVERNOR, SIR EDWARD YOUDE, SAID TODAY.

SPEAKING JUST BEFORE OPENING THE TRADE DEVELOPMENT COUNCIL'S GALA FASHION PRESENTATION OF THE CASUAL APPAREL SHOW THIS EVENING, THE GOVERNOR ADDED: +PROTECTIONIST SENTIMENTS COULD ALSO HAVE AN ADVERSE EFFECT ON THE OUTCOME OF THE NEGOTIATIONS ARISING FROM THE EXPIRY OF THE MULTIFIBRE ARRANGEMENT IN JULY.

BUT

+PRESIDENT REAGAN'S VETO OF THE THURMOND-JENK INS BILL A FEW WEEKS AGO IS A WELCOME STEP IN THE RIGHT DIRECTION. PROTECT IONIST PRESSURES ARE LIKELY TO PERSIST.+

SIR EDWARD SAID THAT THE GOVERNMENT WAS FULLY ALERT TO THE SERIOUSNESS OF THIS THREAT, AND WAS TAKING ALL POSSIBLE MEASURES TO SAFEGUARD HONG KONG'S TRADING INTERESTS.

HONG KONG WOULD ALSO LIKE TO SEE EASIER ACCESS TO THOSE MARKETS WHICH STILL REMAINED RESISTANT TO ITS EXPORT EFFORTS, AND WOULD CONTINUE TO USE EVERY OPPORTUNITY TO PRESS ITS CASE - THROUGH ITS REPRESENTATION ABROAD, COORDINATION WITH OTHER TRADING PARTNERS, AND THROUGH THE LAUNCHING OF TRADE MISSIONS OVERSEAS, HE SAID.

+THE TASKS WE FACE IN 1986 ARE GREAT. BUT, WE HAVE TALENTED DESIGNERS, EFFICIENT MANUFACTURERS AND RESOURCEFUL EXPORTERS. THROUGH THE CONCERTED EFFORT OF ALL THREE, I HAVE EVERY CONFIDENCE THAT HONG KONG WILL GIVE A GOOD ACCOUNT OF ITSELF,+ THE GOVERNOR SA ID.

HE SAID THAT THE WIDE SELECTION OF THE LATEST AND BEST OF HONG KONG DESIGNED CASUAL WEAR ON SHOW WOULD REINFORCE HONG KONG'S REPUTATION AS A LEADING SUPPLIER OF HIGH QUALITY LEISURE WEAR.

HE CONGRATUALTED ALL CONCERNED FOR THE IR EXCELLENT WORK IN ORGANISING THE SHOW.

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