Line to Take (in public - only if pressed):
The stability of sterling is clearly in Hong
Kong's interests as well as Britain's.
how been accepted on
We believ
Kenny
The interim arrangement is/satisfactory for Hong
Kong. For the longer term, after next March, we
other
1
are consulting Hong Kong and over sterling holders
about the possible arrangements that Hight sizit
them
(With unofficial Members of Executive and Legislative Council): The Prime Minister could
also point out that we have made a number of
concessions over the interim agreement to meet
Hong Kong's special needs. These include the
7.
is
a very valmal Safes ward for
Hong Kong
reduction of Hong Kong's MSP
Moreover the quarantice is at the rate of mus. $2.42, Gis the current Stering / dottor mate this
Hong Kong and the EEC Generalised Scheme of Preferences (GSP) We align with the Community's
scheme on 1 January. In 1971 the Community agreed
to admit Hong Kong to their GSP, except for
textiles and footwear. Exports of these important
items from some of Hong Kong's major competitors
amongst the developing countries are, however,
included in the GSP. As a result of our alignment
we shall therefore be seen to discriminate against
certain exports from our own colony. Hong Kong
are concerned about this, for its own sake and
because of the bad example to other importers such
as Japan and the USA. We judged that there was
no chance of persuading the Community to make a
change for Hong Kong's benefit before 1 January,
Therefore
reser
and that we should, reserve our efforts for next
/year.
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1
(17345) Dd.145178 400m 5/73 G.W.B.Ltd. Gp.863
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