CONFIDENTIAL
FM HONG KONG
TO IMMEDIATE FCO
TELNO 1105
OF 151200Z MARCH 88
INFO IMMEDIATE PEKING
37
TOP COPY
CONFIDENTIAL
Q DIST ?
012460
MDHIAN 2078
НКС 102
FORGIVED IN 3:
2/1
1JFIAR
V.
CK OFFICER
PA
YOUR TELNO MODEV 003 AND PEKING TELNO 494 : MULTILATERAL INVESTMENT GUARANTEE AGENCY (MIGA)
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IT IS UNCLEAR TO US WHAT ARE THE CONSIDERATIONS WHICH HAVE LED TO
THE PROPOSED CHANGE OF TACTIC WE HAVE ALREADY TOLD THE CHINESE THAT
IF THERE ARE UNFORESEEN DELAYS IN CONSIDERING HK'S PARTICIPATION UNDER THE GUIDELINES, THE UK WILL EXCLUDE HK FROM ITS RATIFICATION (PARA 3 OF SPEAKING NOTE (OUR TELNO 179 AS AMENDED BY YOUR TELNO
320) USED BY PEKING WITH THE CHINESE) IF WE NOW WISH TO INCLUDE HK
IN THE UK'S RATIFICATION WE WILL NEED TO EXPLAIN TO THE CHINESE THE
REASON FOR IT. OTHERWISE THEY MAY SUSPECT THAT WE ARE DOING THIS IN
ORDER TO EXERT PRESSURE ON THEM TO ACCEPT OUR PROPOSAL FOR THE CONVENTION TO CONTINUE TO APPLY TO THE HKSAR AFTER 1997. MOREOVER, WE WILL ALSO NEED TO BEAR IN MIND THAT SHOULD IT BECOME
NECESSARY FOR HONG KONG TO WITHDRAW FROM MIGA AT
A LATER STAGE DUE TO CHINESE OBJECTIONS, THIS WILL NOT BE EASY TO EXPLAIN PUBLICLY AND MIGHT AFFECT THE CONFIDENCE OF INVESTORS.
2. WE HAVE JUST SEEN SECOND TUR. WE SEE MERIT IN PEKING SIMPLY
REMINDING THE CHINESE THAT THE 40 DAYS ARE NEARLY UP AND THAT WE VERY
MUCH HOPE TO HAVE A POSITIVE ANSWER BY THEN SO HONG KONG CAN BE
INCLUDED IN UK'S RATIFICATION.
WILSON
YYYY
DISTRIBUTION
50
ΜΑΙΝ
49
HONG KONG AGREEMENT RESTRICTED
LIMITED
HKD
HD/FED
PS/LORD GLENARTHUR
PS/MR EGGAR
PS/PUS
MR MCLAREN
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