TNAG-0422-FCO40-468-Construction-of-an-underground-railway-system-in-Hong-Kong-1973 — Page 177

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THE TE BETWEEN JAPAN AND HONG KONG HAS INCREASED BY 16 TIMES

SO THAT LAST YEAR IT APPROACHED US DOLLARS 1,600 MILLION.

3,

THE INDUSTRY OF HONG KONG HAS DEVELOPED RAPIDLY AND THE QUALITY

OF ITS PRODUCTS HAS STEADILY IMPROVED. THIS HAS PRODUCED AN

INCREASING DEMAND FOR MORE SOPHISTICATED CAPITAL EQUIPMENT AND FOR

SEMI-PROCESSED INDUSTRIAL MATERIALS. THIS DEMAND JAPAN HAS

DEEN ABLE TO MEET TO OUR MUTUAL BENEFIT. IN ADDITION, THE STEADY

GROWTH OF THE ECONOMY AND THE RISING STANDARD OF LIVING OF THE PEOPLE

OF HONG KONG HAVE PRODUCED A RISING DEMAND FOR SUCH JAPANESE

PRODUCTS AS CAMERAS, REFRIGERATORS, TELEVISION SETS AND MOTOR CARS.

IN 1972 JAPANESE EXPORTS TO HONG KONG HAVE AMOUNTED TO ABOUT US

DOLLARS 880 MILLION.

4. TRADE IN THE REVERSE DIRECTION FROM HONG KONG TO JAPAN HAS NOT BEN

SO DRAMATIC, AND AMOUNTED LAST YEAR TO US DOLLARS 85 MILLION. OUR

TRADE AND DEVELOPMENT COUNCIL NOW HAS A PERMANENT OFFICE IN TOKYO

AND OUR EXPORTERS ARE ACTIVE IN SOLICITING BUSINESS IN JAPAN,

AND I VERY MUCH HOPE THAT THEY WILL HAVE SOME SUCCESS. I THINK THERE

MUST BE MANY HONG KONG PRODUCTS WHICH WOULD SELL VELL IN JAPAN TO

THE SATISFACTION OF CONSUMERS AND WITHOUT DAMAGE TO JAPANESE

MANUFACTURERS.

5. IN THIS CONNECTION I WAS VERY GLAD TO KNOW THAT THE COVERIMENT OF JAPAN HAS RECENTLY INTRODUCED A NUMBER OF MEASURES DESIGNED TO PROMOTE IMPORTS, INCLUDING REDUCTIONS IN CERTAIN TARRIFS AND THE REMOVAL OF QUANTITATIVE IMPORTS RESTRICTIONS ON OTHER

PRODUCTS. WE IN HONG KONG WELCOME THESE ROVES, WHICH, IF

I MIGHT SAY SO, ARE TYPICAL OF THE WISDOM OF JAPANESE ECONOMIC

ADMINISTRATION. IF THEY ALLOW HONG KONG EXPORTS TO IMPROVE THEIR PERFORMANCE IN JAPAN, THEY WILL GREATLY IMPROVE MOT ONLY RESPECT FOR JAPAN IN HONG KONG AND ELSEWHERE, BUT ALSO THAT HIGHLY FRAGILE

COMMODITY GOOD WILL

6. I AM VERY GLAD THAT SO MANY JAPANESE TOURISTS VISIT HONG KONG, ABOUT 400.000 CAME LAST YEAR, AND I HOPE THAT THEY ENJOYED THEN- SELVE?. THEY ARE EXTREMELY WELCOME. OVER ONE MILLION TOURISTS VISITED HONG KONG LAST YEAR, AND I CREATLY ENJOYED RECEIVING THE MILLIONTH, BY SOME STRANGE CO-INCIDENCE SHE HAPPENED TO BE A REMARK ABLY PRETTY GIRL. WE ARE EXPECTING MANY JAPANESE TO COME TO THE INTER ATIONAL ARTS FESTIVAL 1 Hai KORD, FEDPUANY AND MARCH JY P

WITC, S.... OF THE MOST FUNDUS ARTISTY TE TOC WOULD OF MUSIC ANG

BALL. ANT RAMA VILL

*O THE NEW

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