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Wednesday, November 21, 1973
other
J
In 1970, the developed countries exported
mostly to each
over 13,000 million U.S. dollars' worth of textiles and clothing, while the developing countries' total exports were worth only 3,800 million.
Mr. Jordan said that Hong Kong's far-sighted industrialists
have always recognised that in order to stay competitive, they have to
move quickly in response to new ideas, new technology, new fibres and
new markets..·
Installation of the most modern equipment available, he added,
had helped the Hong Kong industry to maintain, and in some cases improve,
its competitive position in world markets.
Although Hong Kong was opposed to trade restrictions in any form,
we have learned to be pragmatic and realistic.
"We have many times demonstrated our willingness to discuss mutual
trade problems with any country, and the records show that we have been
prepared to accept restrictions where there has appeared to be reasonable
economic justification," Mr. Jordan said.
"But we have also sometimes had to accept restrictions where
no real justification for them existed."
Note to Editors:
Copies of the full text of Mr. Jordan's speech are boxed for collection.
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