DENDRITE LONDON
A ye
TELEX FROM
THE MANAGER. DODWELL HONGKONG 9th. DECEMBER 1971 MANAGERIAL (JHH)
о
HKDEN715 JHH FOR INFORMATION H.K. ASSOCIATION FOLLOWING STATEMENT
ISSUED BY CHAIRMAN H.K. GENERAL CHAMBER TODAY
QUOTE THE HISTORY OF CONTROLS ON SHIPMENTS OF COTTON TEXTILES
TO THE UNITED KINGDOM SEEMS TO BE ONE LONG STORY OF THE U.K,
GOVERNMENT SAYING ONE THING AND DOING ANOTHER. AS FAR BACK AS
1958, DURING THE ORIGINAL NEGOTIATIONS LEADING TO A VOLUNTARY
LIMITATION OF TEXTILE SHIPMENTS, THE THEN PRIME MINISTER KIMSELF
ASKED HONG KONG TO GIVE SUCH A VOLUNTARY UNDERTAKING TO PROVIDE
A PERIOD FOR NECESSARY ADJUSTMENTS ON EITHER SIDE. THIS PERIOD
OF ADJUSTMENT HAS REMAINED WITH US FOR 12 YEARS. MORE RECENTLY HMG
ASSURED US IN JULY 1969 AND RE-AFFIRMED. LATER THAT A 15-0/0 TARIFF
WOULD REPLACE QUOTA CONTROLS ON 1ST JANUARY 1972. THE HONG KONG
INDUSTRY AND TRADE IS NOW GIVEN ONLY 22 DAYS NOTICE THAT THESE
ASSURANCES ARE VALUELESS. THE DISRUPTIVE EFFECTS OF THIS SUDDEN
VOLTE-FACE ARE BOUND TO BE SERIOUS, PARTICULARLY FOR THOSE FIRMS
WHO HAVE ALREADY, IN GOOD FAITH, ENTERED INTO FIRM CONTRACTS ON
GROUNDS WHICH THEY HAD EVERY REASON TO BELIEVE WAS TO BE THE NEV
BASIS SUCH CONTRACTS THEY MAY NOT NOW BE ABLE TO PERFORM.
WE
WILL HAVE TO AVAIT THE OUTCOME OF THE FURTHER TALKS TO BE HELD IN
JANUARY BEFORE WE CAN ASSESS THE FULL EFFECTS OF THIS ON OUR
ECONOMIC PROSPECTS. MEANWHILE, WE CAN ONLY REGARD WITH CONSIDERABLE
MISGIVINGS THE RELIABILITY OF ANY FUTURE ASSURANCES FROM HMG, LET
ALONE THEIR EFFECTIVEMESS IN PROTECTING HONG KONG S INTERESTS UNDE
THE GATT AND IN OTHER INTERNATIONAL NEGOTIATIONS UNQUOTE.
POL.
ย
No comments yet.
Private notes are available after approval.