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سف علمة
FM HONG KONG 250842Z
2514
CONFIDENTIAL
TO IMMEDIATE F C O TELNO 523 OF 25 APRIL 1978 INFO IMMEDIATE SINGAPORE, KUALA LUMPUR.
See (227
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MY TELNO 369: AIR CARGO RATES.
THE SINGAPORE AND MALAYSIAN GOVERNMENTS ARE REPORTED TO HAVE
LAID DOWN REQUIREMENTS FOR AIRLINES OPERATING OUT OF THOSE COUNTRIES TO ACCEPT PAYMENTS FOR AIR CARGO IN LOCAL CURRENCIES CALCULATED AT THE MARKET RATES OF EXCHANGE FOR THE US DOLLAR RATHER THAN AT THE ARTIFICIAL IATA RATES. THESE MOVES ARE SAID TO HAVE GIVEN.
A COMPETITIVE EDGE TO SINGAPORE AND MALAYSIAN EXPORTS AND AS A RESULT QUESTIONS ARE TO BE ASKED IN LEGISLATIVE COUNCIL TOMORROW (APRIL 26) ON WHETHER HONG KONG COULD LIKEWISE REQUIRE AIRLINES TO ACCEPT PAYMENTS CALCULATED AT THE MARKET EXCHANGE RATES FOR THE HONG KONG DOLLAR.
2. WE SHOULD BE GRATEFUL FOR BACKGROUND INFORMATION ON THE STEPS TAKEN BY THE SINGAPORE AND MALAYSIAN GOVERNMENTS AND ADVICE ON WHETHER SOMETHING SIMILAR COULD BE DONE IN HONG KONG.
3. TO ASSIST IN FORMULATING REPLIES, IT WOULD BE ESSENTIAL FOR
REPLIES TO BE RECEIVED BY APRIL 260300 GMT.
ROBERTS
FILES
MAED
HK & GD FED NAM D
COPIES SENT TO CAD/DOT/
MR BUTLER MR CORTAZZI
MR BURROWS
MR MURRAY
CONFIDENTIAL