XN000022-1987-04-27 — Page 7

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MONDAY, APRIL 27, 1987

+1 THINK IT'S VERY CLEAP THAT WE SHARE THE BASIC THRUST OF U.5. ADMINISTRATION POLICY, THAT IS TO SAY, OFEN MARKETS, TO REINFORCE THE GATT. TOY AND HAVE IT WORK BETTER, MAKE THE NE! ROUND WORK, WHICH MEANS, ANCHA OTHER THINGS, WHERE THE PULES AREN'T WORKING VERY WELL, IMPROVE THE.

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+THOSE ARE THE THINGS E CUL ENTIRELY GO ALONG WITH, + ЧЕ АПЛЕР.

'USEFUL AND FRIENDLY EXCHANGE OF VIEWS

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THE FINANCIAL SECRETARY, MR PIERS JACOBS

MR PIERS JACOBS, DESCRIBED TALKS EARLIER TODAY (MONDAY) BETWEEN THE GOVERNOR AND THE VISITING U.S. SECRETARY OF COMMERCE, MR MALCOLM BALDRIGE, AS +A VERY USEFUL AND FRIENDLY EXCHANGE OF VIEWS ON A RANGE OF TOPICS+.

THE MEETING TOOK PLACE AT GOVERNMENT HOUSE AT 9.30 AM, AND LASTED ABOUT THREE-QUARTERS OF AN HOUR. IN ADDITION TO THE FINANCIAL SECRETARY, BOTH THE SECRETARY FOR TRADE AND INDUSTRY, MR HAMISH MACLEOD, AND THE SECRETARY FOR MONETARY AFFAIRS, MR JOSEPH YAM, WERE PRESENT AT THE TALKS.

+IN ADDTION TO A GENERAL DISCUSSION OF THE POLITICAL AND ECONOMIC SITUATION IN HONG KONG, A MAJOR THEME WAS OF COURSE BILATERAL AND MULTILATERAL TRADË,+ MR JACOBS COMMENTED.

+WE DISCUSSED TRADE AND TEXTILE LEGISLATION PENDING IN THE U.S. CONGRESS, AND EXPRESSED HONG KONG'S APPRECIATION OF THE ADMINISTRATION'S EFFORTS TO RESIST PROTECTIONIST PRESSURES.

+ CLEARLY BOTH HONG KONG AND THE UNITED STATES HAVE A COMMON INTEREST IN ENCOURAGING OTHERS TO OPEN MARKETS AND STRENGTHEN THE WORLD TRADING SYSTEM, AND THERE ARE NO MAJOR BILATERAL ISSUES BETWEEN US, HENCE THE GOOD ATMOSPHERE OF THE TALKS.+

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