CONFIDENTIAL
LORD BELSTEAD'S VISIT TO HONG KONG : 6 TO 10 DECEMBER 1982
BRIEF NO.9: COMMERCIAL OPPORTUNITIES
POINTS TO MAKE
1.
Agree that UK export performance is not as good as should like in some sectors but point to increased interest shown in Hong Kong by UK firms in recent years. Four sectors in particular where there is scope for increased UK export activity are construction, textiles, electronics and quality consumer goods.
2.
Point out HMG's firm commitment to the Hong Kong market for major project business. Clear evidence of this is the fact that Hong Kong is ECGD's biggest exposure. Delighted by British companies' success in winning major contracts such as Castle Peak Power Stations and the Mass Transit Railway.
Very much
hope for continuing UK involvement on major projects now being considered.
3.
Aware that UK response to investment in Hong Kong has been less than that of the Americans and Japanese: the decision to invest overseas is for the commercial judgement of individual
firms.
4.
The UK's only quantitative restrictions on imports from
Hong Kong are those on textiles.
CONFIDENTIAL
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