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Visit of the Minister of State for Commonweal th
Relations to Hong Kong
October 1967.
Support for Hong Kong's Export Credit
Corporation
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Munsterad Goll,
Address belles from Lord Shepherd to The Honourable
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Dunwoody M Parliamentary Up
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You will recall the discussion at the Muniter cal
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Hong Kong's Export Credit Insurance Corporation
was set up at the end of 1966 and performs largely the
same functions as the United Kingdom's Export Credit
Guarantee Corporation. The danger of such bodies
accepting over-risky business is much reduced if they
have adequate and up-to-date reports on the economic
situation in various countries and their work is much
facilitated if they are kept informed of foreign
import and export control regulations. E.C.G.D.
have access to such material which is supplied by
British Missions abroad, but the Hong Kong Corporation
do not, except in respect of the few countries in which
they have their own trade representatives.
It has not been possible to arrange for the
Hong Kong Corporation to be given copies of reports,
etc. sent by our posts to London. The reasons given
are that posts are too busy to be charged with yet
another duty, that if Hong Kong is supplied, then
other Commonwealth countries might be prompted to seek
similar facilaties, that material in the reports is
often confidential and sources would dry up if it became
known that Hong Kong was in on the net, and also that
Hong Kong is sometimes in competition with the United
Kingdom who must therefore keep some cards close to
/its