CONFIDENTIAL #5
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11
Financial and Administrative Implications
15.
Contribution to the GATT budget is
based on the individual contracting party's
share of world trade. If Hong Kong were to
become a separate contracting party to the GATT,
the contribution for 1985 would have been
Swiss Francs 800,000, plus Swiss Francs 42,000
towards working capital fund (about
HK$2,618,620
on 17 April 1985).
at the exchange rate obtaining
16.
Hong Kong's contribution to the CCC
would likely be the minimum payable by each
contracting party, being 0.2 per cent of the
CCC's annual budget. This came to Belgian
Francs 544,580 in 1983/84 (about HK$69,162
at the exchange rate obtaining on 17 April 1985).
17.
If Hong Kong were to become a de jure
contracting party to the GATT, it might require
a separate mission in Geneva. While this would
not involve any additional staffing resources,
diplomatic privileges for the staff concerned
may need to be explored separately with the Swiss
Authorities. Other than Geneva, no significant
changes are envisaged in the foreseeable future in
the existing arrangements for representing
Hong Kong's commercial interests in Third
Countries, except possibly in Brussels, where
the Hong Kong Government Office is accredited