RESTRICTED
BA
GROWTH EVEN WHEN RESTRAINTS ARE RENEWED OR EXTENDED. THE COMMUNITY WAS APPARENTLY TRYING TO ACHIEVE IN BILATERAL NEGOTIATIONS WHAT IT. COULD NOT ACHIEVE IN THE MULTILATERAL FORUM. HONG KONG COULD AGREE TO REASONABLY DEPARTURES FROM THE MFA BUT FOR SOME IMPORTANT PRODUCTS THE COMMUNITY'S OFFER WOULD MEAN THAT BY 1982 HONG KONG WOULD NOT BE EVEN CLOSE TO THE LEVEL OF TRADE IN 1976. OUR OFFER ON THE 7 HIGHLY SENSITIVE PRODUCTS (DISREGARDING COTTON YARN) | WOULD, IF IMPOSED IN 1978, RENDER 34,000 PEOPLE UNEMPLOYED. HONG
KONG WOULD BE DEPRIVED OF HER ECONOMIC PROSPERITY, BUT HONG KONG'S COMPETITORS MANY OF WHOM WERE RESPONSIBLE FOR DISRUPTION OF EEC
MARKETS - WOULD PROFIT.
4. DISCUSSION OF INDIVIDUAL PRODUCTS HAS REVEALED A WILLINGNESS ON HONG KONG'S PART TO ACCEPT RESTRAINTS, AT SOME LEVEL, BUT A REFUSAL TO LIVE WITH THE HARSH RESTRAINTS OFFERED. FRIDAY'S DISCUSSION CONCLUDED WITH A HEATED EXCHANGE BETWEEN TRAN AND MILLS, MILLS SAID THAT HONG KONG HAD COME TO BRUSSELS TO NEGOTIATE, NOT TO BE DICTATED TO. TRAN RETORTED THAT HONG KONG HAD COME TO TALK ABOUT THE PAST: THE COMMUNITY WERE INTERESTED IN TALKING ABOUT THE FUTURE BECAUSE THEY FOUND CERTAIN PROVISIONS OF THE CURRENT MFA UNACCEPTABLE. HE HAD NOTHING ELSE TO OFFER: HONG KONG COULD
''TAKE IT OR LEAVE IT''.
MAITLAND
FRAME EXTERNAL
EID (!) HK & GD
-2- RESTRICTED
ADDITIONAL DISTN FRAME
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