TNAG-0584-FCO40-717-Trade-relations-between-UK-and-Hong-Kong-(other-than-EEC)-1976 — Page 11

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proximity to some extent by means of more joint venture agency arrangements between British manufacturers and Hong Kong firms. Kr. Kinnear pointed to the problems posed by the large number of British agencies held by British firms on the one hand, and the difficulty he

had in getting information on new Hong Kong companies interested in

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acquiring agencies on the other. Members endorsed Mr. McGregor's proposal that the Chamber of Commerce should provide the Trade Commission with the names of new Hong Kong companies that might be interested in acting as agents for British firms.

6.

As regards (c) the extent to which fiscal developments in

Britain are affecting British exports to Hong Kong, members noted

that the Trade Development Council's analysis should also show how

British exporters had reacted to the changing value of the £ sterling.

Mr. Dunning thought that in some cases, prices for British goods in

despite Hong Kong had risen in response te devaluation of the £, rather than declined. Mr. Kinnear commented that roughly 10% of British exporters were now quoting in currencies other than sterling (the US dollar for example).

7.

Mr. McGregor thought that the Federal Republic of Germany might still be waiving duty on the German content of Hong Kong exports to Germany. He asked whether HIG might be willing to introduce a

similar system for the British content of Hong Kong exports to Britain.

Members agreed that such an arrangement might provide a considerable

stimulus to British exports to Hong Kong and asked the Senior British

Trade Commission to take the point up with London.

8.

As regards (d) ways in which the Hong Kong Government and

institutions can help the British Trade Commission, Members noted

that the Senior British Trade Commissioner had produced a paper which

was to be considered under the second item on the agenda.

2/76 Ways in which the Hong Kong Government and Institutions can

help the British Trade Commission

9.

Members considered a paper dated 16th November 1976 the

Senior British Trade Commissioner had prepared on British exports to

Hong Kong, and particularly the practical suggestions in paragraphs

5 to

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CONFIDENTIAL