TNAG-2756-FCO40-3973-Hong-Kong-Business-Works-Conference--London-address-by-John-1993 — Page 25

HONG KONG WORKS CONFERENCE, WEDNESDAY 10 NOVEMBER 1993

DRAFT SPEECH FOR THE PRIME MINISTER

Introduction

1. I welcome the initiative of the Hong Kong Government

Office in London and the Institute of Directors in organising

this important conference. It is fitting that it should be held here in the City the world's premier financial district

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and that it should focus on Hong Kong the hub of the world's fastest growing region. I am glad to see that it has brought together so many business leaders.

2.

But

Hong Kong is an important responsibility for Britain, and one which we are determined to discharge with honour.

it is more than that. It is the most spectacular success

story of our colonial experience. It stands at the crossroads

of the most dynamic region on earth, and at the gateway to

China. As the Governor, Chris Patten, has put it, Hong Kong

is one of the economic wonders of the world.

3.

To come to the theme of your conference, it is also the natural base for British firms wanting a piece of the

Asia-Pacific action.

4. By the end of the century the output of the Asia Pacific area is forecast to exceed that of the European community.

Hong Kong is ideally placed to benefit from this growth, and particularly from the economic revolution taking place in China. Over the last ten years, Hong Kong has expanded its manufacturing base across the border to the point where it is now the engine of growth for a large area of Southern China.

pm.speech.ADMIN

JEB