SPEECH BY THE PRIME MINISTER
ZHANGZHOU WOOL TEXTILE FACTORY
24 MAY 1986
YOUR EXCELLENCIES, SECRETARY HU OILI, GOVERNOR HU PING
1HEN GENERAL-SECRETARY HU YAOBANG VISITED AUSTRALIA,
ACCOMPANIED BY SECRETARY, HU OILI, IN 1985, HE AND I
DECIDED THAT AUSTRALIA AND CHINA SHOULD CONCENTRATE SOME
OF OUR EFFORTS ON DEVELOPING CO-OPERATION IN THE FIELD OF
WOOL, ITS PRODUCTION, PROCESSING AND MANUFACTURE. THE
OPENING OF THIS JOINT-VENTURE WOOL TEXTILE MILL GIVES
TANGIBLE EXPRESSION TO THOSE ASPIRATIONS, THIS ENTERPRISE
HAPPILY COMBINES ELEMENTS OF RAW MATERIALS PROCESSING,
MANUFACTURE AND EXPORT OF FINAL PRODUCT TO THE OBVIOUS
MUTUAL BENEFIT OF SEVERAL RELATED INDUSTRIES IN BOTH
COUNTRIES. MACQUARIE ! ORSTEDS IS A WELL-KNOWN AUSTRALIAN PRODUCER OF
WOOLLEN TEXTILES. MR ROB HODGE, THE CHAIRMAN OF ITS PARENT
COMPANY, GENERAL INVESTMENTS, HAS MADE A MAJOR COMMITMENT
TO THE DEVELOPMENT OF HIS COMPANY'S RELATIONS WITH CHINA
IN RECENT YEARS TO SUCH AN EXTENT THAT HE IS NOW
PERSONALLY QUITE AN ACCOMPLISHED CHINESE LINGUIST. EARLIER
THIS WEEK, I WAS PLEASED TO WITNESS THE SIGNING IN BEIJING
OF A JOINT-VENTURE AGREEMENT BETWEEN HIS COMPANY AND THE
' EIJING ! O0. 1 TEXTILE MILL, SOME OTHER JOINT VENTURES ARE
UNDER CONSIDERATION. r
2.
DISCUSSIONS BETWEEN MACQUARIE WORSTED AND THE ZHANGZHOU
JUTEMILL FOR THE ESTABLISHMENT OF THIS JOINT VENTURE
HAVE GONE PARTICULARLY SMOOTHLY. INDEED, WE MAY SAY THE
CO-OPERATION BETWEEN BOTH PARTIES IN THIS JOINT VENTURE
IS AN EXAMPLE TO OTHER AUSTRALIAN COMPANIES WHO ARE THINKING
OF INVESTING IN THE CHINESE MARKET. THE COMBINATION OF
MACQUARIE WORSTED'S MODERN WOOL TECHNOLOGY AND THE HIGHLY
SKILLED CHINESE LABOUR FORCE WITH CENTURIES OF TEXTILE
EXPERIENCE HAS CREATED A HIGH QUALITY WOOL FABRIC WHICH CAN
COMPETE SUCCESSFULLY ON THE INTERNATIONAL MARKET. INITIAL
SHIPMENTS OF FABRIC TO AUSTRALIA AND THE UNITED KINGDOM
HAVE BEEN FAVOURABLY RECEIVED BY LEADING MANUFACTURERS.
IN ACCORDANCE WITH THE PROGRAM OF CO-OPERATION WE HAVE
DEVELOPED UNDER THE UMBRELLA OF THE AUSTRALIA/ CHINA WOOL
WORKING GROUP, WE HOPE THAT IN THE FUTURE MORE SUCH JOINT
VENTURES WILL BE ESTABLISHED IN CHINA TO USE AUSTRALIAN RAW
MATERIALS AND SEMI-PROCESSED MATERIALS FOR FURTHER PROCESSING
AND RE-EXPORT TO THE WORLD MARKET. THIS TYPE OF COMMERCIAL
ENTERPRISE MAKES THE BEST USE OF AUSTRALIA'S ADVANTAGES IN
WOOL PRODUCTION AND CHINA'S ADVANTAGES IN LABOUR-INTENSIVE
MANUFACTURING INDUSTRY TO THE BENEFIT OF BOTH SIDES.
IN ADDITION, THIS VENTURE SERVES CHINA'S MOST URGENT NEED
NOT ONLY TO DEVELOP NEW PRODUCTIVE CAPACITY THROUGH THE
INTRODUCTION OF NEW TECHNOLOGIES, BUT ALSO TO CREATE NEW
EXPORT MARKETS IN WHICH IT CAN EARN MUCH-NEEDED FOREIGN
EXCHANGE.
3.
IT IS THEREFORE A VERY HAPPY OCCASION THAT I AM ABLE
TODAY, IN THE COMPANY OF MR Hu QILI, TO OPEN THIS PRACTICAL
EXAMPLE OF CO-OPERATION IN ADVANCING OUR MUTUAL TRADE AND
COMMERCIAL INTERESTS,