TNAG-0369-FCO40-415-Visit-of-Edward-Heath--UK-Prime-Minister--to-Hong-Kong--12-1-1974 — Page 5

VISIT 0

THE

PRIME MINISTER

TO

HONG

KONG

DRAFT FOR PRE LUNCH SPEECH ON 14 JANUARY 1974

TO LEADING IMPORTERS. MANUFACTURERS & BRITISH COMMERCIAL REPRESENTATIVES

Welcome opportunity to meet many leading customers and selesmen of British goods and express to both thanks and congratulations on the considerable increase in

trade between UK and Hong Kong.

(?) and November

Even allowing for

in both directions

On basis of UK statistics the total trade between us up to

was ?% up on the same period last year. It was worth £?. changes in the exchange rate and for price increases this represents a considerable increase in the volume.

than has been achieved for many years.

It is a bigger increase

The increase of course reflects the increase in world trade generally and specifically of Hong Kong and UK trade with the world. But it is significant that the growth in UK-HK trade in both directions has kept up with the trend.

Hong Kong's exports to UK have increased by some (?) 20% to a total of £?.

And the Britain's exports to Hong Kong have increased by (?) 30% to 2?. inavases in both directions have been across the board of almost all the major items we have long supplied to eachother.

These figures alone give the answer to those who suggest that partly because of our entry into the EEC Britain is becoming a less important and attractive market to Hong Kong or that Britain is losing interest in Hong Kong either as a

market or a supplier.

and it

Of course Britain's membership of the ERC means that Hong Kong's preferential position will be eroded. Not so much because of barriers being erected against Hong Kong but because they will be gradually lowered for others. But provided that this does not result in unfair discrimination against Hong Kong is G's intention to ensure that this does not happen there is no reason why this should result in a decrease of Hong Kong's trade with Britain or with Europe. On the contrary, as the figures so far show, hong Kong should be able to share fully in the expansion of the economies and the trade of the enlarged

BEC.

Britain /

Every effort is made to ensure that the information given herein is accurate, but no legal responsibility is accepted for any errors or omissions in that information and no responsibility is accepted in regard to the standing of any firms, companies or individuals mentioned.

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