XN000022-1991-05-10 — Page 3

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FRIDAY, MAY 10, 1991

OF

SIR DAVID SAID HONG KONG AND AUSTRALIA BOTH WERE PLACES OPPORTUNITY AND BOTH WERE DYNAMIC, BUSINESS-ORIENTED, COMMUNITIES INCREASINGLY CONSCIOUS OF BELONGING TO A GREATER PACIFIC COMMUNITY.

THE

IN

GOVERNOR PAID TRIBUTE TO THE PART AUSTRALIA HAD PLAYED INITIATING AND CEMENTING ECONOMIC CO-OPERATION IN THE REGION, FIRST THROUGH THE PACIFIC ECONOMIC COOPERATION CONFERENCE (PECC) AND MORE RECENTLY IN PROPOSING THE ASIA PACIFIC ECONOMIC CO-OPERATION FORUM (APEC).

"HONG KONG LOOKS FORWARD TO RATIFICATION OF ITS ENTRY AS A FULL MEMBER OF THE PECC AT THE MEETING IN SINGAPORE IN TWO WEEKS TIME,

HE SAID.

HE ALSO PAID TRIBUTE TO THE IMPORTANT ROLE AUSTRALIA HAD PLAYED IN THE URUGUAY ROUND OF MULTILATERAL TRADE NEGOTIATIONS UNDER THE GATT.

"IN HONG KONG, WHERE SO MUCH OF OUR ECONOMY DEPENDS ON TRADE, WE ARE CONCERNED THAT MOMENTUM HAS BEEN LOST. I KNOW THAT IN AUSTRALIA, AS LEADERS OF THE CAIRNS GROUP, YOU SHARE THIS CONCERN, SIR DAVID ADDED.

HE POINTED OUT THAT WHAT NEEDED TO BE DONE WAS TO FOCUS THE MINDS OF THE LARGER PLAYERS ON THE VITAL NECESSITY OF PRESERVING A NON-DISCRIMINATORY FREE TRADE REGIME.

++ THE CHALLENGE IS TO IMPROVE ON WHAT WE HAVE SO FAR ACHIEVED, NOT TO DISCARD IT JUST BECAUSE IT IS NOT PERFECT.

"THIS IS WHERE I HOPE TO SEE US WORK TOGETHER AS WE HAVE OVER THE PAST FOUR YEARS. REGIONAL TRADE BLOCKS ARE VERY MUCH A SECOND BEST, SIR DAVID SAID.

..

THE GOVERNOR SAID HONG KONG FACED MANY CHALLENGES AND LIKE OTHERS IT HAD FACED, THEY CONTAINED THE SEEDS OF NEW OPPORTUNITIES.

IT

"HONG KONG HAS NEVER BEEN A PLACE FOR THE FAINT OF HEART. HAS ALWAYS REWARDED THOSE WHO, WITHOUT FLINCHING AT THE CHALLENGES, HAVE SEIZED THE OPPORTUNITIES, THE GOVERNOR SAID.

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MELBOURNE CHINESE COMMUNITY GIVES WARM WELCOME TO GOVERNOR

THE GOVERNOR, SIR DAVID

WILSON, TODAY (FRIDAY) RECEIVED AN

ENTHUSIASTIC RECEPTION FROM CHINESE COMMUNITY AND BUSINESS ORGANISATIONS IN MELBOURNE.

STUDENTS

MORE THAN 200 CHINESE AND AUSTRALIAN BUSINESS PEOPLE, AND WORKERS PACKED THE STATE BANK THEATRETTE IN MELBOURNE ΤΟ LISTEN AND TO ASK QUESTIONS ABOUT DEVELOPMENTS IN HONG KONG.

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