COMMITTEE
ENCIL FOR TRADE
I do not think there is any injustice or hardship to Hong Kong if we do not do more for them. In taking the decision to establish the Corporation, the Hong Kong Government were guided by the report of the Working Party they set up to study the question. This report drew attention to the problem of access to economic information and indeed recommended that the Corporation should be under the control of the Commerce and Industry Department partly because the latter would have such information available. It was vital to the decision to go ahead with credit insurance that the Corporation should have, or be sure of obtaining, sufficient economic information to enable it to underwrite the country risks. They have available the services of an officer with E.C.G.D. experience and will know the opportunities which exist for regular consultations between credit insurers.
taken their decision, it is now up to the Corporation to accept the consequence. If it were to run into underwriting difficulties arising from lack of information, it would then tailor its cover to those risks which it could assess from its available resources. Happily the indications are that no difficulties of this sort are being experienced.
I am sending a copy of this letter to Fred Mulley.
Yours sincerely,
Having
Haped
BROWN
complete file
M.
thus matter
and my
m London
I have read om
Conclusion is that either the Hong Kong Yoot office of the Hong Kong Trade Development comial in hondar Should establish a sound relationship with ECOD + ESB
through which they could probably get most of what they require apart from the matter at
(11) (5) of jour letter which I tuck must (11)(b)
remin confidential.
W