TNAG-0938-FCO40-1157-Visit-of-John-Nott--Secretary-of-State-for-Trade--to-Hong-Ko-1980 — Page 165

DEPARTMENT OF TRADE

1 VICTORIA STREET LONDON SW1H OET

HKK026/4

NO. 21

Ma

CONFIDENTIAL

From the Secretary of State

The Rt Hon The Lord Carrington KCMG MC

Secretary of State for Foreign

and Commonwealth Affairs

Foreign and Commonwealth Office Downing Street

London, SW1A 2AL

See (16/17

15

Telephone 01-215 7877

JED

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Should we comment?

P3

PS/LPO

B/Max Blake Ps/in Ridley PA/PUS

Sir & Maitlan Mr Cortazzi Lord Briges Mr Murray

10 February 1980 Mr Evans

нисто

TRED

Dear Peter

VISIT TO THE FAR EAST: 18-31 JANUARY 1980

FRO

ECD (E)

Rhy) 19/5

In January I made a two week visit to Japan, Korea, and Hong Kong three countries more associated in the public conception with import threat than with export potential. You might be interested in my impressions.

i

I would like to start with Korea, for although it was not the first country on my route it was possibly the most useful of the three

visits. The Korean economy has been growing at about 10 per cent per annum compound for several years and no visit can fail to be impressed by its vigour. Since the Koreans are anxious to diversify away from their dependence on Japanese and United States imports I am sure that great opportunities exist in this market for British goods. We have a hard working Ambassador and Commercial Department in Seoul and they have achieved a great deal in the past few years. The main trouble is that we do not have enough businessmen going to Korea. Indeed Ministers may not have given the market the attention it deserves. For our exports generally to Korea the problem is of course to get their protectionist barriers down against our goods. We have had pretty good growth in exports to Korea of capital goods and won projects there against Japanese competition which in many other markets we would have found

CONFIDENTIAL

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