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LORD GORONWY-ROBERTS'S VISIT TO HONG KONG:
EF NO. 21:
UK/HONG KONG TRADE
11-17 JANUARY
I. Britain's trade with Hong Kong is characterised by a large and growing balance
in the territory's favour. Our principal imports from Hong Kong are clothing and
other textiles, miscellaneous manufactures and footwear. Our principal exports to
Hong Kong are machinery, transport equipment and high-quality consumer goods.
1969
1970
1971 *
1972
1973
Jan-Nov
1974 *
UK IMPORTS
£ MILLION UK EXPORTS
125
89
128
100
165
104
185
101
263
127
275
147
* (November's figures at the time of writing are provisional and therefore
confidential).
2.
Apart from a very few Commonwealth tariff preferences which are confined to
motor vehicles and alcohol, and the fact that the Hong Kong bus companies are
required to buy Commonwealth vehicles (although the exceptians procedure has
recently been streamlined), there is no built-in preference for British goods.
There is a willingness to buy British products if the price, quality, delivery and
sales service are competitive but this has too often not been the case in the past.
3. In the last decade the UK's share of the rapidly expanding Hong Kong market has
halved from 13% to 6% whereas Japan (a major supplier of semi-manufactures to Hong
Kong industry) has increased its share to 23%. Britain has fallen to fourth place
amongst Hong Kong's suppliers.
No comments yet.
Private notes are available after approval.