CONFIDENTIAL
although this might have some
on
the
the
affect paltion of a Itrade.
British Government devolving to Hong Kong full
autonomy in her external commercial relations, and
thus enabling the G.A.T.T. to be applied to her in
her own right (i.e. instead of by virtue of a
decision of the United Kingdom as the metropolitan power), whether or not Hong Kong wished to become
a Contracting Party.
ting Party. There were, however, political
objections to this course.
6. The Hong Kong Delegation proposed that an
objective of the U.K. in the negotiations should be
to ensure that Hong Kong's present rights of access
for cotton textiles to the countries of the enlarged
Community would not be diminish
diminished The application
of the common external tariff to their exports of
cotton textiles to the U.K. was a secondary matter.
7. It was noted that O.E.C.D. and U.N.C.T.A.D. were
both working on proposals for the establishment of
a system of generalised preferences for less
developed countries, which could provide Hong Kong with benefits for new products which would offset her loss of preferential Commonwealth access to
the U.K. market.
(See paras 2 (5) and 3 above)
8. A second round of talks might be held in about
two months time on the same basis to give further consideration to the foregoing points.
12 July, 1967
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Private notes are available after approval.