XN000022-1990-11-28 — Page 18

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HONG KONG/JAPAN ENJOY EXCELLENT RECONOMIC RELATIONS

AND JAPAN

THE EXCELLENT ECONOMIC RELATIONS BETWEEN HONG KONG ARE ONE OF THE SUCCESS STORIES OF REGIONAL CO-OPERATION, THE GOVERNOR, SIR DAVID WILSON, SAID IN TOKYO TODAY (WEDNESDAY),

WAS ADDRESSING A LUNCHEON MEETING SIR DAVID KONG/JAPAN BUSINESS CO-OPERATION COMMITTEE, AND HONG KONG TRADE DEVELOPMENT COUNCIL IN TOKYO.

HOSTED

KONG JAPAN/HONG

BY

HONG SOCIETY

CITING A FEW FACTS TO ILLUSTRATE THE CLOSE RELATIONSHIP BETWEEN SIR HONG KONG AND JAPAN ON TRADE, FINANCE, INVESTMENT AND TOURISM, DAVID SAID LIKE ANY NEIGHBOURS, THE TWO PLACES WOULD OCCASIONALLY HAVE PROBLEMS TO SORT OUT SO THAT THE RELATIONSHIP COULD GROW.

"ONE CONCERN WE

HAVE IS THE SUBSTANTIAL IMBALANCE IN BILATERAL TRADE. WE NOW IMPORT FROM YOU MORE THAN FOUR TIMES AS AS WE EXPORT TO YOU," SIR DAVID SAID.

NOTING THAT JAPAN'S SECOND LARGEST TRADE SURPLUS WAS WITH KONG, THE GOVERNOR SAID THE RECENT FALL IN THE YEN HAD TAKEN ITS ON HONG KONG'S EXPORTS TO JAPAN.

"THESE HAVE

FALLEN

10 PER CENT IN VALUE SO REVERSING THE UPWARD TREND OF MANY YEARS," HE SAID.

OUR

MUCH

HONG

TOLL

FAR THIS

YEAR,

HOWEVER, SIR DAVID SAID HONG KONG DID NOT SEEK ARTIFICIAL TO HELP ITS EXPORTS TO JAPAN.

AID

"WE

BELIEVE IN FREE TRADE. WE LOOK GENUINELY OPPORTUNITY TO PRACTISE IT," HE SAID.

ONLY FOR THE

MARKET HOPED THAT

WELCOMING THE MOVES BEING MADE TO OPEN FURTHER JAPAN'S AND TO PROMOTE DOMESTIC DEMAND, SIR DAVID SAID HONG KONG MORE COULD BE DONE.

"WE ALSO UNDERSTAND THAT THIS IS A TWO-WAY PROCESS, AWARE OF THE NEED FOR MORE PAINSTAKING EFFORTS BY HONG KONG TO PENETRATE THE JAPANESE MARKET," HE SAID.

WE ARB SALESMEN

TO BROADEN BEEN

POINTING OUT THAT HONG KONG WAS AWARE OF THE NEED THE RANGE OF ITS EXPORTS TO JAPAN, SIR DAVID NOTED THAT MUCH HAD DONE ON BOTH SIDES TO FACILITATE HONG KONG EXPORTS TO JAPAN.

"MORE REMAINS TO BE DONE. I AM SURE THAT IT WILL BE.

"WE

COMMON

INTEREST

OUR

COMMERCIAL PROSPEROUS

HAVE A

IN DEVELOPING RELATIONS WITH THE OBJECTIVE OF ACHIEVING A BRIGHTER, MORE FUTURE FOR US BOTH, HE SAID.

"

ΤΟ FORESIGHT

OF THE

OUTLINING THE ROLE OF HONG KONG IN THE ECONOMIC DEVELOPMENT CHINA, SIR DAVID SAID IF HONG KONG WAS TO PLAY THAT PART FULL, THE TERRITORY MUST PLAN AND BUILD FOR THE FUTURE WITH AND CONFIDENCE.

/"THAT IS