XN000022-1988-06-19 — Page 2

SUNDAY, JUNE 19, 1988

HONG KONG IS A VERY IMPORTANT MARKET FOR UK: LORD YOUNG

THE SECRETARY OF STATE FOR TRADE AND INDUSTRY, LORD YOUNG, SAID HE HAD COME OUT TO SEE HONG KONG IN THIS PARTICULAR TRIP BECAUSE HONG KONG IS A VERY IMPORTANT MARKET FOR THE UNITED KINGDOM.

ARRIVING HERE TODAY (SUNDAY) FOR A FOUR-DAY VISIT, LORD YOUNG TOLD REPORTERS AT THE AIRPORT THAT THE UK NOW DID FAR MORE BUSINESS IN HONG KONG THAN WITH THE PEOPLE'S REPUBLIC OF CHINA.

"SO 1 HAVE REALLY COME OUT ΤΟ HAVE A LOOK AT COMMERCIAL INTERESTS IN HONG KONG AND TO SEE HOW THE UK ACTUALLY COULD HELP TO THE FURTHER DEVELOPMENT OF HONG KONG," HE SAID.

BRITISH EXPORTS TO HONG KONG HAD GONE UP BY ABOUT FIVE PER CENT IN THE PAST YEAR, REACHING OVER A BILLION POUNDS FOR THE FIRST TIME, HE NOTED.

ASKED TO COMMENT ON THE CONNECTION' BETWEEN HONG KONG AND CHINA, LORD YOUNG SAID HONG KONG IS IMPORTANT IN ITS OWN RIGHT.

"IT IS ALSO OF COURSE IMPORTANT IN RELATION ΤΟ THE PEOPLE'S REPUBLIC OF CHINA. BUT IT IS IMPORTANT IN ITSELF. I HAVE COME OUT TO LOOK AT A LOT OF THE CAPITAL PROJECTS AND OTHER PROJECTS, WHICH I HOPE WILL BE PROCEEDING IN HONG KONG, AND IN WHICH I THE HOPE UK CAN HAVE

IT'S SHARË, HE SAID.

"

LORD YOUNG SAID THE UK HAD A FAST IMPROVING ECONOMY AND HE BELIEVED IT WOULD BE WINNING ITS SHARE OF EXPORTS ROUND THE WORLD AND LOOKED TOWARDS HONG KONG AS BEING ONE OF THOSE AREAS WHERE THE UK WOULD IMPROVE EXPORTS.

HE DID NOT THINK THE STRENGTH OF THE POUND WOULD HINDER THAT DEVELOPMENT,

"WE HAVE GOT TO BE COMPETITIVE WHATEVER THE AND.

IN MANY OF THESE CASE, IT IS OF COURSE QUALITY OTHER AREAS WHICH ARE IMPORTANT, HE ADDED.

H

EXCHANGE RATE IS AND DESIGN AND

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