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Russia
8.
Mr Goodlad said that the Secretary of State had just visited Russia: the country was not very happy.
GCT wondered what it would look like in one year's time. Mr Goodlad said it was anyone's guess. The US, UK and EC were taking financial and technical measures to help Yeltsin. and the reformers to survive. The alternative to continuing reform was a "black hole". If Yeltsin could survive the next year he would probably be all right. GCT said that the Russian Republics would seek more autonomy. The centre could break down. Mr Goodlad said that this did not need to be the case. The EC was providing significant funding. GCT said that debts were also being clawed back. Mr Goodlad thought some debt relief might be necessary.
British Economy
9. Mr Goodlad said that the EC was in good shape. So was the British economy. We had entered the recession first and would be out of it first. GCT observed that the pound was now strengthening. What was the effect on exports?
Mr Goodlad said that it was still weaker than it had been. The Deputy High Commissioner said this was boosting British exports and helping our contractors against Japanese competition. Mr Goodlad said that Singaporean exporters always did well. GCT said they were complaining now.
While
a strong Singapore dollar kept inflation down, if it became too strong there would be no exports. The country had no natural resources.
Europe could GCT wondered if
Mr Goodlad
10. GTC asked about ratification of Maastricht. Mr Goodlad said the Treaty would be ratified quite soon. then get on with building the Single Market. Britain would become an "appendix" of the EC. said there was no chance of this. Britain was at the heart of Europe and would remain there. He was pleased to hear that Prime Minister B G Lee was better. GCT said this was as good as could be hoped. It was a relief for all of the main Ministers.
Visits
11. Mr Goodlad asked whether Mr Goh would attend CHOGM in Cyprus. GCT said he would be there. Would Mr Major?
Mr Goodlad confirmed this. The Prime Minister and Foreign
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