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6.
Particularly during the period leading
up to the global negotiations, Hong Kong's
interest should continue to be focussed on
parity of treatment with her competitors, this
being the most she can hope for. It is
unfortunate, but a tribute to Hong Kong's
dynamism, that her competition remains a
ready cause of alarm to the developed
countries, whether in Western Europe,
North America or even Japan herself.
This
is likely to remain a factor with which
•
Hong Kong has to contend, whatever
happens.
EEC Enlargement
7.
Commonwealth preferences will be phased out during the transitional period after British entry
into the Community, in accordance with the agreed
programme of introducing EEC tariffs over the
period 1974/77. Although association was
considered inappropriate for Hong Kong, agreement
was reached during the enlargement negotiations
that Hong Kong should be included in the
Community's Generalised Preference Scheme (GPS).
As a result of this, Hong Kong has been enjoying
the benefits of the EEC scheme since it came into
force in mid-1971. Moreover, following inclusion
in the EEC's scheme, a number of other countries
have felt able on grounds of burden sharing to
extend this Scheme to include Hong Kong.
the expansion of economic activity in the
UK which enlargement should bring, will in
Furthermore,
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