TNAG-0048-FCO40-84-Export-Credit-Insurance-Corporation-1968 — Page 44

RESTRICTED

Brief for Discussions with Minister of State

HONG KONG EXPORT CREDIT INSURANCE CORPORATION:

INFORMATION FROM BRITISH OVERSEAS POSTS

忙

The Export Credit Insurance Corporation has been trying, for arly eighteen months, to obtain limited access to the routine information provided by British overseas posts to the Export Credits Guarantee Department (E.C.G.D.) in London.

2.

26 May, 1966.

3.

The correspondence began with Hong Kong Savingram 1158 of

The Commonwealth Office replied on 17 October 1966 that:

overseas posts were already fully stretched on commercial commitments;

(a)

(b)

(c)

the Corporation was a non-Governmental, profit making institution and Hong Kong was in direct competition with

some British exports;

(but) if E.C.G. D. was prepared to supply the Corporation with information received from overseas posts, the Board of Trade would have no objection.

All the Corporation's capital has been subscribed by the Government which also guarantees the liabilities assumed so that considerable sums of public money are at risk. Whilst the Corporation and the Government appreciate that British overseas posts cannot be expected to undertake special assignments as for E.C.G.D., (such as the provision of credit information on individual buyers) the Cor- poration's work would be greatly facilitated if:

(a)

(b)

the information prepared as a matter of routine for E.C.G.D. on import and exchange control regulations and subsequent changes in these regulations; and

the periodical economic reports which overseas posts prepare and send to various departments in London;

could be copied to it. Virtually no extra work would be involved other than the actual despatch to Hong Kong of an extra copy of these papers.

4.

If security is raised as a difficulty, it should be pointed out that, as the information at 3(a) does not raise any such difficulty, it could be sent direct to the Corporation; but the reports at 3(b) might, in which case they could be sent to the Commerce & Industry Department. The Department, which would find such reports helpful anyway, could be relied on to exercise discretion in passing on to the Corporation.

them

Colonial Secretariat

11 October 1967