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LAST PAPER
Mr K C Lo
Economic Services Branch
Government Secretariat HONG KONG
Dear Mr Lo
Your reference
дов
Our reference INS 13209
VED IN WELRY No. 51
Date
5 August 1977
8 AUG 1977
DKK 121/STR/
1433
а
ASIAN REINSURANCE CORPORATION (ARC)
R**
Your letter dated 26 May addressed to the Foreign and Commonwealth Office was also copied to this Department and invited comments on whether Hong Kong should join the Asian Reinsurance Corporation (ARC). We apologise for not responding earlier but trust that you will still find the following comments useful.
We agree with your view that it would not be desirable for Hong Kong to join the AKC at this stage. It is considered that the countries participating in the ARC discussions may be expecting too much from the agreement and possibly over- estimating their capacity to take reinsurance in the region. However, no doubt Hong Kong would wish to co-operate with the ARC if and when it is established.
Yours sincerely
DE MURRANT
cc Mr Ubton Mr J Orr CRE 4
FCO (Hong Kong)
British Trade Commission Hong Kong
cc Mr Ubton, FCO (Hong Kong)
Mr J Orr.
CRE 4
British Trade Commission, Hong Kong
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