CONFIDENTIAL
(a) to press for the establishment of a special fund,
sponsored by the main CITES parties, to purchase the ivory that is legally held by traders in Hong Kong;
or
(b) to enter a reservation on Hong Kong's behalf, to
remain in force for a period of six months after the expiry of the 90 day grace period, so that the traders have time to dispose of their existing stocks, and to enable a retraining scheme for ivory craftsmen to be implemented.
3. The idea of establishing an international buy out fund is not a practicable proposition. There is no provision for this in the CITES Convention. Few countries would be willing to contribute to such a fund. We should therefore quickly scotch this idea, before unrealistic expectations are raised in Hong Kong.
4. The alternative proposal, that of entering a reservation on Hong Kong's behalf, is feasible. a provision in the Convention for states to enter reservations (Article XV (1) (C)). There is also a precedent for this procedure: the UK entered a reservation for Hong Kong in 1977.
5.
There is
I am very reluctant to countenance any delay in implementing the ban but there are strong arguments for Hong Kong in this case.
CONFIDENTIAL
/6.