XN000022-1988-03-10 — Page 7

THURSDAY, MARCH 10, 1988

ARE ALL

ΤΟ

AVOID

A

BACKLASH, PROTECTIONIST "IF WE EFFORTS MUST CONTINUE AND MUST BE SEEN TO BEAR FRUIT.

THESE

SIR DAVID SAID ON PROMOTION OF HONG KONG'S EXPORTS TO JAPAN,

FOR NEED

CAREFUL AND PERSISTENT HONG KONG WAS CONSCIOUS OF THE RESEARCH TO ASSESS WHAT WOULD SELL WELL IN THE JAPANESE MARKET.

"IN ALL THESE AREAS, THE TWO AND THE HONG KONG TRADE DEVELOPMENT PROGRESS IN THE LAST TWO YEARS.

IN HIS SPEECH,

SIR

BUSINESS COOPERATION COMMITTEES COUNCIL HAVE MADE CONSIDERABLE

*

AN ACCOUNT INVESTMENT

OF

IN TERMS

HONG

KONG'S OF

GAVE DAVID

ADVANTAGES AS A

FOR JAPANESE PLACE GEOGRAPHICAL, ECONOMIC AND POLITICAL FACTORS.

KONG WAS COMMITTED TO A HE ALSO EMPHASISED THAT HONG MARKET ECONOMY WHICH WAS THE BEST SYSTEM FOR SUSTAINED COMMERCIAL INDUSTRIAL DEVELOPMENT.

FREE

AND

HE SAID: "INDUSTRIALISTS, LOCAL AND FOREIGN ALIKE, ARE FREE

EQUIPMENT. THERE IMPORT RAW MATERIALS, SEMI-MANUFACTURES AND CAPITAL ARE NO LOCAL CONTENT REQUIREMENTS OR OTHER RESTRICTIONS.

TO

DIFFICULTY

"FREEDOM OF CAPITAL MOVEMENT MEANS THAT THERE IS NO

OUR EXPORTS ENJOY MOST-FAVOURED-NATION EARNINGS. REPATRIATING TREATMENT IN WORLD MARKETS THROUGH OUR MEMBERSHIP OF THE GATT.

IN

||

GOVERNMENT WAS MAKING HONG KONG HAD LESS PETTY RULES AND

THE DAVID

THAT ALTHOUGH SIR

ADDED EFFORTS TO IMPROVE THE ENVIRONMENT FOR INDUSTRY,

IN INTERFERENCE

INDUSTRY GOVERNMENTAL REGULATIONS THAN ANY OTHER IMPORTANT TRADING ENTITY IN THE WORLD.

-

"AND WE INTEND TO KEEP IT THAT WAY,

FEWER

77

HE SAID.

HONG KONG AND JAPAN,

REFERRING TO THE ECONOMIC TIES BETWEEN SIR DAVID SAID THAT BESIDES BEING HONG KONG'S SECOND LARGEST SUPPLIER,

SOURCE OF HONG LARGEST

KONG'S OVERSEAS JAPAN WAS ALSO THE SECOND

OF ONE FIFTH

HONG KONG'S PROVIDING ABOUT INDUSTRIAL INVESTMENT, INVESTMENT.

CAPITAL

WORKS PROGRAMME

INVOLVEMENT, HE AND THE

IS

H

"A SIGNIFICANT PROPORTION OF OUR BEING CARRIED OUT BY CONSORTIA WITH STRONG JAPANESE SAID, CITING THE EXAMPLES OF THE SECOND CROSS HARBOUR TUNNEL TATE'S CAIRN TUNNEL PROJECT.

HONG KONG, ON THE OTHER HAND, WAS JAPAN'S FIFTH LARGEST MARKET, HE SAID.

EXPORT

OF

YEN

HONG KONG "IN 1987 EVERY MAN, WOMAN AND CHILD IN

THIS GOODS. JAPANESE 156,000

IN EQUIVALENT SIGNIFICANTLY LARGER THAN PURCHASES OF JAPANESE GOODS IN MARKETS : IT COMPARES WITH ABOUT 50,000 YEN PER CAPITA IN STATES AND 17,000 YEN IN THE EUROPEAN COMMUNITY.

"

THE BOUGHT

IS FIGURE OTHER MAJOR THE UNITED

/SIR DAVID