XN000022-1989-04-28 — Page 5

FRIDAY, APRIL 28, 1989

ACCOMPANIED BY MR KERRY MCGLYNN, DIRECTOR OF THE HONG KONG ECONOMIC AND TRADE OFFICE IN NEW YORK, MR WIGGHAM BEGAN HIS TOUR ON WEDNESDAY IN NASHVILLE, THE CAPITOL OF THE STATE OF TENNESSEE WHERE HE MET THE STATE GOVERNOR MR NED MOWHERTER,

MR WIGGHAM URGED GOVERNOR MCWHERTER TO FOLLOW THE EXAMPLE OF OTHER AMERICAN STATES AND PORT AUTHORITIES BY ESTABLISHING A TENNESSEE OFFICE IN HONG KONG WHICH WOULD ENABLE THE STATE ΤΟ CAPITALISE ON THE TREMENDOUS OPPORTUNITIES FOR DOING BUSINESS NOT ONLY WITH HONG KONG, BUT USING IT AS A SPRINGBOARD FOR DOING BUSINESS WITH CHINA AND THE PACIFIC RIM.

DURING THE DAY MR WIGGHAM ALSO MET OTHER OFFICIALS INLCUDING MR CARL JOHNSON, COMMISSIONER OF TENNESSEE'S DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT, FOR BRIEFINGS AND DISCUSSIONS ON HONG KONG AND THE OPPORTUNITIES FOR TWO-WAY TRADE AND INVESTMENTS.

IN THE EVENING HE WAS GUEST OF THE DISTRICT COMMERCE OFFICE AT A RECEPTION HELD AS PART OF THE TENNESSEE WORLD TRADE CONFERENCE HELD IN THE CITY.

DEPARTMENT OF FIFTH ANNUAL

MISSISSIPPI,

TODAY, MR WIGGHAM FLIES TO JACKSON, CAPITOL OF WHERE HE WILL BE THE KEYNOTE SPEAKER AT THE LEADING EDGE SEMINAR ORGANISED BY THE UNIVERSITIES CENTRE OF JACKSON STATE UNIVERSITY WHICH REPRESENTS THE MAJOR INSTITUTES OF LEARNING IN THE STATE.

THE SEMINAR IS TO BE ATTENDED BY LEADERS OF THE GOVERNMENT, BUSINESS, TRADING AND ACADEMIC COMMUNITIES IN JACKSON,

PORT OF HK TO ENVISAGE EXPONENTIAL GROWTH

* * *

GROWTH OVER

THE PORT OF HONG KONG WILL ENVISAGE EXPONENTIAL THE NEXT 22 YEARS TO 2011. THE DEPUTY DIRECTOR OF MARINE, MR IAN STRACHAN, SAID IN MIAMI, FLORIDA LAST NIGHT (APRIL 27).

HE WAS ADDRESSING THE WORKING SESSION OF THE 16TH PORTS CONFERENCE BEING HELD FROM APRIL 22 то 28. THE CONFERENCE IS ORGANISED BIENNIALLY BY THE INTERNATIONAL ASSOCIATION OF PORTS AND HARBOURS.

"TAKING 1986 AS THE BASE YEAR, REAL GROSS DOMESTIC PRODUCT (GDP) IN HONG KONG WILL GROW 400

PER CENT UP TO THE YEAR 2011," MR STRACHAN SAID.

"TO PUT THIS INTO PERSPECTIVE, GDP PER CAPITA IN 1989 IS ESTIMATED TO BE US$11,000.

"IN TONNAGE TERMS WE EXPECT, OVER THIS 25 YEAR PERIOD, TOTAL IMPORTS TO GROW BY 740 PER CENT, RE-EXPORTS BY 1.300 PER CENT, DOMESTIC EXPORTS BY 470 PER CENT AND TRANSHIPMENTS BY 1.490 PER CENT."

/MR STRACHAN