TNAG-1609-FCO40-22131-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1987 — Page 9

DRAFT SPEECH BY HON LYDIA DUNN, CBE, LLD,

Miss DUNN:

Sir,

THONARD JAILVISIDIT-

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11.87

TDC Annual Report 1986/87

Hong Kong

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le.

Fabled today is the Annual Report of the Trade Development Council for the financial year 1986787.

Hong Kong's overall trade performance recovered well during the year under review with total trade increasing by 18% per cent over the previous year. Domestic exports led the growth

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bir cent

cent

19 and this trend has continued during 1987. We can expect domestic exports to record an impressive 20% growth by the end

of this year.

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A number of factors have made this strong resurgence

possible. The appreciation of the Yen and European currencies has enhanced our competitiveness; generally strong consumer

Some demand in major markets, and liberalisation in previously restricted markets has provided new trade opportunities.

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We should also give credit to the efforts of our manufacturers in upgrading the quality and range of goods and in meeting the consumer demands of emerging markets such as Japan. In this respect the work of the Trade Development Council in improving the image of our products and discovering market potential has contributed significantly.

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Such a favourable combination of circumstances can't exist indefinitely of course, and there is no room for complacency. The founcil's efforts will be all the more important if there is any slow down in the international trading climate after the recent disturbance in the world's

financial markets.

(I)

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