31/E.
Sir A.Snelling
I received a note under your name which referred bo Hong Kong Brief No. 31, and asked the following question:-
2.
What are Hong Kong's sales to E.E.C. now? Some trade figures would be useful showing the decline in Hong Kong's dependence on the British market in recent years.
I attach some statistics covering the years 1962-1965 (1966 figures are not yet available). As you will note exports to U.K. remained proportionately steady at 22-23% in 1962-1964 but declined to 17% in 1965 (due mainly to the effect of the temporary import surcharge). Exports to E.E.C. countries rose from 2% in 1962 to 3.5% in 1965. If anything it is the U.S. market (an increase from 26% ·3476 between 1962 and 1965) and exports to the British Commonwealth excluding the U.K (an increase of 24% 35%) that have been taking the load off the U.K.
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3.
Of some interest are the West German figures. The Germans first called upon the Colony to exercise restraint of its exports in 1964 (in cotton nightwear) and have since negotiated further restraint agreements covering woollen kintwear and additional categories of cétton textiles
(W.S. Carter)
214 February, 1967.
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