TNAG-2617-FCO40-3808-Visit-by-Lord-Caithness--Minister-of-State-for-Foreign-and-C-1992 — Page 89

RESTRICTED

055263

MDHIAN 1536

13. BRITISH EXPORTS CONTINUE TO RISE STEADILY: FOR SOME YEARS NOW OUR EXPORTS HAVE INCREASED BY AROUND 10 PER CENT TO 12 PER CENT EACH YEAR. UK EXPORTS TO HONG KONG IN JANUARY TO NOVEMBER 1991, AT POUNDS 1.3 BN, EXCEEDED THOSE FOR THE WHOLE OF 1990 SO THE FINAL FIGURE WILL BE ANOTHER INCREASE OF ABOUT 12 PER CENT. THIS IS PERFECTLY SATISFACTORY ON, A WORLD SCALE, BUT WE ARE GETTING BETTER RATES OF GROWTH IN OTHER ASIAN MARKETS. OUR MARKET SHARE ALSO REMAINS A DISAPPOINTING 2.2 PER CENT TO 2.3 PER CENT.

14. OUR MARKET SHARE, OUR RATE OF GROWTH OF EXPORTS, AND OUR TOTAL EXPORTS COULD ALL TAKE A VERY DRAMATIC LEAP UPWARDS IF WE GET A SIGNIFICANT PART OF THE MAJOR PROJECT BUSINESS IN HONG KONG WHICH WILL BE DECIDED IN 1992. THE REWARDS WOULD BE HIGH ENOUGH TO IMPACT UPON THE BRITISH ECONOMY AS A WHOLE, WHICH COULD SURELY DO WITH THE FILLIP THESE CONTRACTS WOULD PROVIDE. THEY MERIT VERY CLOSE ATTENTION DURING THIS YEAR BY ALL THOSE ABLE TO ASSIST THE BRITISH COMPANIES CONCERNED, INCLUDING, AND PERHAPS ESEPCIALLY, AT MINISTERIAL LEVEL.

HEAP

YYYY

MAIN

LIMITED

HKD

FED

22

ADDITIONAL

2

OT2, DTI PEP, DTI

NNNN

DISTRIBUTION

24

PS/LORD CAITHNESS

SIR J COLES

MR BURNS

PAGE 2 RESTRICTED