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RECORD OF CALL BY MR GOODLAD ON GOH CHOK TONG, OF SINGAPORE: 6 APRIL 1993
B-JA0
no int sup.
i para 2)
PRIME MINISTER
Those Present:
Goh Chok Tong
Ng Lang, Western Europe Desk,
MFA
Mr Goodlad
Deputy High Commissioner PS/Mr Goodlad
Bilateral Economic Issues
1.
Mr Goodlad said that Singapore had changed tremendously since his last visit 15 years ago. Everything seemed to be going well. Bilateral trade was up; British investment was up; and there was huge interest in London in South East Asia. Mr Needham would bring a delegation in June. GCT expressed optimism. There were many opportunities for British companies in the region. Since medium-sized companies could find it difficult to operate outside Europe, they could perhaps ride on the back of Singaporean companies. Mr Goodlad said that when he had served on the South East Asia Advisory Board of the BOTB he had always encouraged British companies to come to the region.
Hong Kong
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2. GCT said that British companies might ask why they should collaborate with Singaporean rather than Hong Kong companies. Mr Goodlad said that Hong Kong companies were well stretched already. The service economy in Hong Kong was now developing well. The mood was buoyant and confident. GCT wondered whether this would be the case as 1997 approached. Mr Goodlad said that the stock exchange was continually going up. The Chinese had invested $20 billion in Hong Kong. A recent Peugeot share issue had been 650 times over-subscribed. There was tremendous confidence. Britain would get through the current disagreement with China over the small print. Basically we had the same objectives. It was a pity that gazetting of draft constitutional legislation had coincided with the National Peoples Congress Meeting. The Chinese had made a fuss before over the Nationality Bill and the Bill of Rights: no doubt there would be further arguments in the future. GCT suggested that
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