XN000022-1990-10-18 — Page 3

N

HURSDA

HER 18, 1990

THE HONG KONG

"OUR MARKET IS OPEN AND IT IS A HIGH-VALUE ONE. MARKET IS HIGHLY COMPETITIVE, BUT WE WELCOME NEWCOMERS FROM EUROPE WHO HAVE GOT WHAT IT TAKES TO COMPETE,

HE SAID.

WAS ON THE BELGIAN PRESENCE IN HONG KONG, THE GOVERNOR SAID IT SMALL BUT WAS LIVELY AND GROWING, AND IT EMBRACED FIELDS AS DIVERSE AS BANKING, CONSTRUCTION, MANUFACTURING AND TRADING.

"TRADE BETWEEN US, WHILST SMALL IN COMPARISON WITH SOME EC MEMBER STATES, IS NEVERTHELESS SIGNIFICANT.

OTHER

"BELGIUM IS AN IMPORTANT SUPPLIER OF SEMI-PRECIOUS STONES OUR JEWELRY INDUSTRY; IN FACT THESE STONES ACCOUNT FOR MORE THAN

SIR DAVID SAID. OF BELGIUM'S EXPORTS TO HONG KONG,

FOR

HALF

11

THE

THAT THE NOTED GOVERNOR

LAST

A

HIGHLIGHTED STATISTIC PARTICULAR POINT ABOUT THE TRADE BETWEEN THE TWO PLACES.

"MOST OF WHAT HONG KONG BUYS FROM EUROPE IS HIGH VALUE AND HIGH

AND GARMENTS BRANDY, DIAMONDS, BRAND-NAMB

QUALITY QUALITY MOTOR VEHICLES, PERFUMES AND PHARMACEUTICALS.

"AS

BECOMES

ACCESSORIES,

THE SOPHISTICATED,

WHETHER THEY BE

MORE KONG'S HONG

INDUSTRY MATERIALS AND COMPONENTS WHICH WE BUY FROM ABROAD, DYESTUFFS OR DIAMONDS, ALSO BECOME HIGHER VALUE.

"so,

BEEN

T

SIR DAVID

WHILE THE BALANCE OF VISIBLE TRADE HAS HISTORICALLY IN OUR FAVOUR, WE BUY FROM EUROPE 70 TIMES MORE PER HEAD OF POPULATION THAN EUROPE DOES FROM US (HK$9,720 PER CAPITA VS HK$139),' SAID.

SAID GOVERNOR

HONG KONG ON THE FUTURE OF HONG KONG, THE

DEVELOPING A NEW GOVERNMENT WOULD CONTINUE THE QUIET DIPLOMACY OF RELATIONSHIP WITH CHINA AND MANAGING THE TRANSITION.

THERE "ALL OF YOU HERE FACE SIMILAR PROBLEMS OF INTEGRATION.

THEIR LONG-TERM BE DIFFICULTIES, BUT YOU ACCEPT THEM BECAUSE OF BENEFITS.

MAY

"ON

THE

THE OTHER SIDE OF THE WORLD, WE HAVE PLANNED AND LAID

WHILE PRESERVING FOUNDATIONS FOR THE RETURN OF SOVEREIGNTY TO CHINA HONG KONG'S ECONOMIC AUTONOMY.

11

WAY

SIR DAVID SAID THERE MIGHT WELL BE DIFFICULTIES ON THE BUT THERE WAS NO DOUBT THAT HONG KONG WOULD REACH ITS DESTINATION.

-

"THAT QUALITIES WHICH HAVE MADE HONG KONG WHAT IT IS TODAY WILL

YOU HERE

AND CONTINUE TO

I HOPE THAT AMAZE THE WORLD. BUSINESSMEN OF EUROPE WILL NOT SIMPLY BE SPECTATORS. IT," HE SAID.

-

THE

BE A PART

OF

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