KS
VISIT OF MR LUCE TO HONG KONG: 24-29 SEPTEMBER 1983
COMMERCIAL OPPORTUNITIES
POINTS TO MAKE
PA.
Mr Luce's
Wit
HKK
27
RECEIVED IN REGISTRY NO.
51
-
2 SEP 1983
DESK OFFICER
INDEX
PA
REGISTRY Action Taken
46)
1 Agree that UK export performance is not as good as we 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 Station and the Mass Transit Railway. Very much hope for continuing UK
involvement on major projects now being considered, including the development of
Kai Tak.
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.
BACKGROUND
1
Hong Kong accounts for 1.3% of total UK exports and, with Japan, is our major
market in the Far East. The UK's share of Hong Kong 's total imports increased to
4.8% last year, up 9.7% in value terms over 1981. Over the same period Hong Kong's
total imports increased by only 3.3%. A significant part of Britain's exports have
resulted from contracts for major projects. The UK is Hong Kong's largest supplier
after China, Japan, USA, Singapore and Taiwan and is considerably ahead of other
European suppliers. For many years the balance of trade has been in Hong Kong's
favour. (Detailed statistics are at Annex A.)
No comments yet.
Private notes are available after approval.