XN000022-1986-03-03 — Page 2

MONDAY, MARCH 3, 1986

ARTS FESTIVAL FIRMLY ESTABLISHED GOVERNOR

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THE HONG KONG ARTS FESTIVAL HAD FIRMLY ESTABLISHED ITSELF IN THE WORLD AND HAD CONTRIBUTED GREATLY TO THE CULTURAL LIFE OF HONG KONG, THE GOVERNOR, SIR EDWARD YOUDE, SAID THIS EVENING.

IT HAD ALSO BEEN A STIMULUS TO THE +REMARKABLE FLOWERING OF ARTISTIC TALENT WHICH HAD BEEN SO EVIDENT OVER THE PAST DECADE+ IN HONG KONG, HE SAID.

SPEAKING AT THE CELEBRATION DINNER FOR THIS YEAR'S ARTS FESTIVAL, SIR EDWARD SAID THAT IT WAS +NO SMALL ACHIEVEMENT+ FOR THE ARTS FESTIVAL TO BE MOVING INTO ITS FIFTEENTH YEAR.

THE FESTIVAL SUCCEEDED BECAUSE IT HAD WIDE COMMUNITY SUPPORT, THE GOVERNOR SAID. THANKING IN PARTICULAR THE FESTIVAL CHAIRMAN, SIR RUN RUN SHAW FOR ALL THAT HE HAD DONE FOR THE HONG KONG ARTS FESTIVAL.

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+WITHOUT HIS DEDICATED LEADERSHIP, THE ARTS FESTIVAL WOULD NEVER HAVE ACHIEVED ITS PRESENT STATUS IN SO SHORT A TIME. ALL OF US IN HONG KONG ARE GRATEFUL TO HIM,+ SIR EDWARD SAID,

HECTIC YEAR AHEAD FOR HK'S INTERNATIONAL TRADE

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THE YEAR 1986 WILL BE A HECTIC ONE FOR HONG KONG'S INTERNATIONAL TRADE IN TEXTILES AND GARMENTS, THE ACTING SECRETARY FOR TRADE AND INDUSTRY, MR STEWART WEBB-JOHNSON, SAID TODAY (MONDAY).

SPEAKING AT THE ANNUAL SPRING DINNER OF THE FEDERATION OF HONG KONG GARMENT MANUFACTURERS, MR WEBB-JOHNSON SAID THE MAIN CONCERN FOR HONG KONG IN 1986 WOULD CONTINUE TO BE THE PROBLEM OF PROTECTIONISM IN HONG KONG'S MAJOR MARKETS.

+SUCH DEVELOPMENTS, PARTICULARLY IN THE UNITED STATES, POSE A SERIOUS THREAT TO HONG KONG'S TRADING PROSPECTS, PARTICULARLY ON THE TEXTILE FRONT.

+MORE SPECIFICALLY, PROTECTIONIST SENTIMENTS COULD ADVERSELY AFFECT THE OUTCOME OF THE NEGOTIATIONS ARISING FROM THE EXPIRY OF THE CURRENT MULTIFIBRE ARRANGEMENT AT THE END OF JULY.+

MR WEBB-JOHNSON SAID ALTHOUGH GOVERNMENTS ALL OVER THE WORLD BOTH IN DEVELOPING AND DEVELOPED COUNTRIES - WERE STILL CONSIDERING THE POSITION THEY WOULD TAKE IN REGARD TO THE FUTURE OF THE MFA, THERE WERE CLEAR SIGNS THAT THE U.S.. HONG KONG'S BIGGEST MARKET FOR DOMESTIC EXPORTS, WOULD ADOPT A HARDLINE POSITION TO THE DETRIMENT OF MAJOR TEXTILE AND GARMENT SUPPLIERS LIKE HONG KONG.

/ON HONG