TNAG-0334-FCO40-370-Visits-of-Secretary-of-State-for-Foreign-and-Commonwealth-Af-1972 — Page 224

(885363) Dd. 896639 1,000M 8/71 SLS.

NOTHING TO BE WRITTEN IN THIS MARGIN

Registry No.

SECURITY CLASSIFICATION

DRAFT

Top Secret.

Secret.

Confidential.

Restricted. Unclassified.

PRIVACY MARKING

In Confidence

To:-

Type 1 +

From

Telephone No. & Ext.

Department

Commonwealth Preferences will of course be phased

out after British entry into the Common Market,

but Hong Kong will be compensated by inclusion in

the Generalised Preference Scheme of the enlarged

Hong Kong is already enjoying the

Community.

benefits of the Generalised Preference Scheme offered

by the Six because in the course of the negotiations

for British entry into the Common Market the

Community agreed to help Hong Kong by including

her in their Generalised Preference Scheme from the

date of its implementation.

As a result of

Hong Kong's inclusion in the EEC's scheme other

countries have felt able on grounds of burden

sharing to follow suit.

Consequent on UK entry

into the Common Market there is moreover expected

to be an expansion of economic activity in the

UK which will in turn bring benefits to Hong Kong.