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Conclusion
17. This completes UNCTAD's work on preferences before the Schemes go into effect. The "mutual agreement" on the schemes means that the developing countries have got something they can call a GPS and they feel they can go on fighting for improve- ments in the continuing machinery of UNCTAD. The donor countries, on the other hand, have received endorsement to go ahead with their individual schemes and, despite the noise, they have had to give little away of substance in this last session. Now further work will need to be done on the unresolved issues, including beneficiaries, and the GPS will have to be considered in the GATT with a view to a waiver or waivers or other let-out from Article I. The donors will also have to go through their legislative or other processes which, in some cases, may well take longer than is expected. The GPS is by no means yet over all its hurdles but my guess is that we may see at least some schemes entering into force from about the middle of next year.
18. I am reporting separately on Hong Kong's position.
DJCJ/mmg
Distribution:
Director, Hong Kong (3 copies) A.L.; A.B.; A.W.
Mr. 0.H. Kemmis, Board of Trade
Mr. J.G. Morris, Board of Trade
Mr. E.0. Laird, Hong Kong Dept., FCO
Mr. M. Perceval, Trade Policy Dept., FCO
without
encls.
Mr. J. Gray, UKMIS, Geneva
Mr. T. Muir, UKDEL, OECD, Paris.
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