infrastructural contracts of this kind and we certainly get
none. Business is rightly won solely through full and fair
competition.
British firms also continue to justify Cathay Pacific's
commitment to the quality and competitiveness of UK suppliers
over the years, not just in the purchase of engines for their
fleets but of
of a wide
wide range of fixtures and fittings for the
aircraft. We also have a massive involvement in the invisibles
sector in Hong Kong, generating revenue for British companies at
least equal to that derived from visible exports. This should
continue to flourish and grow as Hong Kong moves increasingly
from a manufacturing to a service economy.
Yet I must not sound complacent. No exporter, however successful,
can afford to sit on his laurels. Wherever there is business,
competition will, rightly, follow. Hong Kong has the business and
competition will be tough. Our exporters will need to match that
competition. Recent successes suggest they are well able to do
so. Yet there may be some who look towards 1997 and believe that
Hong Kong is about to enter a period of terminal decline. To them
I say "Look again. Business is booming in Hong Kong as never
before. You will be the only losers if you fail to grasp these
opportunities." This is certainly the message which we in my
Department will be seeking to get across to UK business in the
weeks and months ahead.
For what of the future? Those who know and visit Hong Kong find
it difficult to reconcile the sense of optimism and business as
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