XN000022-1986-07-21 — Page 4

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MONDAY, JULY 21, 1986

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+ BUT HONG KONG'S FUTURE ECONOMIC PROSPERITY DEPENDS ON MORE THAN THE ARRANGEMENTS I HAVE DESCRIBED.

+OF OVERRIDING IMPORTANCE IS OUR ABILITY TO INCREASE AND EXTEND OUR TRADE WITH OTHER COUNTRIES, AND PARTICULARLY WITH OUR MAJOR TRADING PARTNERS.+

HE POINTED OUT THAT IN 1985, OVER 44 PER CENT OF HONG KONG'S TOTAL DOMESTIC EXPORTS WENT TO THE UNITED STATES AND, IN TURN, THE UNITED STATES WAS THE TERRITORY'S THIRD LARGEST SOURCE OF IMPORTS.

IN CONCLUSION, SIR EDWARD SAID, HONG KONG IS WORKING HARD TO ASSURE ITS FUTURE ON THE BASIS OF THE SINO-BRITISH AGREEMENT.

+WE HOPE THAT THE UNITED STATES WILL CONTINUE TO ESPOUSE THE CAUSE OF FREER TRADE IN GOODS AND SERVICES WITH THOSE, LIKE HONG KONG, WHO GENUINELY PRACTISE IT.

+WE ALSO HOPE FOR YOUR CONTINUED UNDERSTANDING AND SUPPORT IN ASSURING THE STABILITY AND PROSPERITY OF HONG KONG WHICH IS SO MUCH IN THE INTEREST, NOT ONLY OF HONG KONG ITSELF AND OF BRITAIN AND CHINA, BUT ALSO OF THE WIDER WORLD.+

SINO-BRITISH LAND COMMISSION MEETING

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THE SINO-BRITISH LAND COMMISSION HELD ITS TENTH MEETING TODAY (JULY 21). THE TWO SIDES AGREED THAT THE AVERAGE COST OF LAND PRODUCTION FOR THE 1986-87 FINANCIAL YEAR IS HK$1 490 PER SQUARE METRE.

THE TWO SIDES EXCHANGED FURTHER VIEWS ON THE ARRANGEMENTS FOR THE EXTENSION OF NT LEASES UNDER THE PROVISIONS OF PARAGRAPH 2 OF ANNEX HI TO THE SINO-BRITISH JOINT DECLARATION, AND DECIDED THAT DISCUSSION SHOULD CONTINUE AT THE COMMISSION'S NEXT MEETING.

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