DRAFT
CONFIDENTIAL
PU 30/1210
Registry - R. and BU to me,
ted
EXE. Af
31/12
23/12
LORD PRIVY SEAL'S VISIT TO HONG KONG: 8-11 JANUARY, 1981
BRIEF NO:
COMMERCIAL RELATIONS
Points to Make
2/1/12
37
/CSE
14/12 noted per 14/12
•HARZ- 026/12
14 DEC1961
}
:
INOCK
No
31/12
CGE AF31/12 1
Textiles
1.
Understand Hong Kong (HK) disappointment at Multifibre
Arrangement (MFA) renegotiations
But very sensitive issue for
S
150,000
the Community (EC) and UK textile/clothing industry
jobs lost in UK industry in last 2 years. Industrial adjustment
takes time.
•
Presidency
2. Tried to give reasonable weight to HK interests
role may have helped to soften EC mandate somewhat. Not in interest
of HK or other exporters for EC to find itself without mandate -
danger of anarchy in textile trade.
textile/
3. HK not done badly out of previous MFA restrictions
clothing exports to UK grew by 40% during MFA2. Even if MFA3
controls tighter HK will no doubt show her usual dexterity in
making most she can out of them.
4. Do not accept effect of MFA2 simply higher UK and EC imports
from developed countries at expense of LDC exporters. Despite
recession in UK growing share of market taken by imports from
both sources.
Commercial Opportunities
1. UK export performance good in some respects though disappointing
But glad to see improvement in recent years with
in others.
1