TNAG-1030-FCO40-1280-Proposed-visit-by-Humphrey-Atkins--Lord-Privy-Seal--to-Hong--1981 — Page 154

CONFIDENTIAL

Essential Facts

Commercial Relations Generally

1. Hong Kong as a trading partner is now second only to Japan

in Asia, and our 19th in the world. In spite of restrictions on

Hong Kong's textile exports, balance of visible trade has for many

years been in Hong Kong's favour. UK share of Hong Kong's import

market improved gradually from 1976-1979, but some ground was lost

in 1980. Share in 1980 was 4.9%, or about £560 million.

for 1981 are so far encouraging.

Figures

2.

Hong Kong Government has for a long time encouraged the inflow

of foreign investment into the manufacturing sector, chiefly because

it brings with it much needed skills, technology and overseas

market networks. UK investment has in recent years fallen behind

the United States and Japan, a factor which may have contributed

to our relatively poor export performance.

3. There have been and continue to be numerous officially supported

missions and visits by British businessmen. BOTB's Hong Kong Trade

Advisory Group now organising a luxury and consumer goods promotion

mission for 1982.

4. Department of Trade are advised by Hong Kong Trade Advisory

Group, whose role is to publicise Hong Kong as an important export

market for the UK. It runs programmes of meetings and seminars

held in association with trade associations in interested fields

and is in close contact with Mr March, Senior British Trade

Commissioner in Hong Kong.