XN000022-1989-12-08 — Page 12

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FRIDAY, DECEMBER 8, 1989

MR SZE ALSO CALLED ON BUSINESSMEN IN THE SERVICES INDUSTRIES TO GIVE ADVICE AND GUIDANCE TO HONG KONG'S NEGOTIATORS IN THE URUGUAY ROUND NEGOTIATIONS.

"YOUR EXPERTISE WILL EVEN BE COUNTED ON MORE HEAVILY AT A LATER STAGE AS THE NEGOTIATIONS MOVE ON TO DISCUSS THE ARRANGEMENT FOR INDIVIDUAL SERVICE SECTORS," HE SAID.

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THE WORLD HAS A STAKE IN HK'S VIABILITY, PROSPERITY

THE MINISTER FOR HONG KONG ECONOMIC AND TRADE AFFAIRS IN WASHINGTON, D.C., MR PETER LO, SAID YESTERDAY (THURSDAY) THAT THE WORLD HAD A STAKE IN THE CONTINUED VIABILITY AND PROSPERITY OF HONG KONG.

ADDRESSING THE WASHINGTON COUNCIL ON INTERNATIONAL TRADE AND THE WASHINGTON STATE CHINA RELATIONS COUNCIL IN SEATTLE, WASHINGTON STATE, MR LO SAID HIS AUDIENCE SHOULD BEAR IN MIND THAT HONG KONG HAD BECOME A KEY ELEMENT IN THE WORLD ECONOMY.

HAVING BEEN A SIGNIFICANT MANUFACTURING CENTRE IN ITS OWN RIGHT, AND STILL REMAINING AS SUCH, IT HAS NOW ALSO BECOME A SUBSTANTIAL SOURCE OF INVESTMENT FOR MANUFACTURING ELSEWHERE, CONTROLLING A DIVERSE NETWORK OF INDUSTRIAL AND COMMERCIAL OPERATIONS AROUND THE GLOBE.

HE SAID HONG KONG HAD ALSO BECOME A MAJOR SERVICES CENTRE AND INTERNATIONAL

ECONOMIC

CROSSROADS

FOR

TRANSPORTATION + TELECOMMUNICATIONS, FINANCE, INSURANCE, TOURISM AND A HOST OF OTHER ACTIVITIES OPERATING BOTH REGIONALLY AND GLOBALLY.

"IF HONG KONG SUFFERS, THE EFFECTS ARE FELT IN LONDON, NEW YORK, PARIS AND TOKYO,' HE SAID.

гр

"

IF IT WERE TO COME TO A COMPLETE STOP THE WORLD WOULD LOSE A MAJOR ECONOMIC ARTERY, THE WORLD'S 11TH LARGEST TRADING ECONOMY AND AN INTEGRAL PART OF THE GLOBAL FINANCIAL, TRADING AND INVESTMENT SYSTEM."

DESPITE RECENT EVENTS IN CHINA, MR LO SAID HONG KONG WAS STILL THE SAME HUSTLING, BUSTLING BUSINESS CAPITAL.

HE THEN CITED EXAMPLES TO ILLUSTRATE HOW FAR SIGHTED, BUSINESSMEN STILL RECOGNISED HONG KONG'S POTENTIAL.

PRUDENT

/INCLUDED AMONG