DSK 11 (Revised)
CONTADENA I AL
: COMMERCIAL IN CONFIDENCE
DRAFT: Xxbug/letter/ciclettoriche spyteby/xyte
FROM:
RD CLIFT
TYPE: Draft/Final 1+
Reference
DEPARTMENT:
HKGD
TEL. NO:
SECURITY CLASSIFICATION
Top Secret
Secret
Confidential
Restricted
TO:
C C Birch Esq MEB
Export Credits Guarantee Department
POB 272
Aldermanbury House
Aldermanbury
LONDON EC2P 2EL
Your Reference
Copies to:
A Havelock Esq DOI J Caines. Esq DOT
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PRIVACY MARKING
CAVEAT..
...In Confidence
blind copies DR Ford
Hory Kay
Ammissimer
Enclosures-flag(s)...........
SUBJECT:
E C G D PROJECTS IN HONG KONG
1. I found it very helpful to attend the meeting
yesterday in Gordon Manzie's room and to hear ECGD's
views about your coverage in Hong Kong. We had already
let Hong Kong know about your concerns and I have now
brought them up to date. I think at the same time I should
record in writing Hong Kong's initial view.
2.
I have already explained the difficulties over any I
proposal for a full guarantee from the Hong Kong
Government or an absolute undertaking on the continuance
of the scheme of control The Hong Kong view, however,
is that there should be no necessity at all for such
guarantees and that in practice the monoply position of
CLP will provide satisfactory security on the basis
of the good economic prospects for Hong Kong
3. Hong Kong have also pointed out the problems which
may arise for British commercial interests if credit cover
terms for major contracts in Hong Kong are tightened too
far. They see this as applying both to the Castle Peak 'B'
contract and to that for buses for the Kowloon Motor Bus
Company. They certainly take the view that
competition, particularly from the Japanese, would be
CONFIDENTIAL : COMMERCIAL IN CONFIDENCE
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