0003240 G.F. 324
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9
HONG KONG EXPORT CREDIT INSURANCE CORPORATION:
INFORMATION FROM BRITISH OVERSEAS POSTS
The Export Credit Insurance Corporation has been trying, for nearly eighteen months, to obtain limited access to the routine information provided by British overseas posts to the Export Credits Guarantee Department (E.C.G.D.) in London.
2.
The correspondence began with Hong Kong Savingram 1158 of 26 May, 1966. The Commonwealth Office replied on 17 October 1966 that:
3.
(a) overseas posts were already fully stretched on commercial
commitments;
(b) the Corporation was a non-Governmental, profit making
institution and Hong Kong was in direct competition with some British exports;
(c) (but) if E.C.G.D. was prepared to supply the Corporation with
information received from overseas posts, the Board of Trade would have no objection.
All the Corporation's capital has been subscribed by the Government which also guarantees the liabilities assumed so that considerable sums of public money are at risk. Whilst the Corporation and
the Government appreciate that British overseas posts cannot be expected to undertake special assignments as for E.C.G.D., (such as the provision of credit information on individual buyers) the Corporation's work
would be greatly facilitated if:
(a) the information prepared as a matter of routine for E.C.G.D.
on import and exchange control regulations and subsequent changes in these regulations; and
(b) the periodical economic reports which overseas posts prepare
and send to various departments in London;
could be copied to it. Virtually no extra work would be involved other than the actual despatch to Hong Kong of an extra copy of these papers.
4.
If security is raised as a difficulty, it should be pointed out that, as the information at 3(a) does not raise any such difficulty, it could be sent direct to the Corporation; but the reports at 3(b) might, in which case they could be sent to the Commerce & Industry Department. The Department, which would find such reports helpful anyway, could be relied on to exercise discretion in passing them on to the Corporation.
This is
Colonial Secretariat
11 October 1967
the Bret prepared
by the Hong Kong
Authorities for discussion during lord Shepherde visit in October (pen to Hall's file of papers)
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