3.
UK/Japan Air Services Agree- nent
To regulate air services between HK and Japan
3
Following the grant of licences for trans-Pacific services: via Tokyo to both CPA and Laker Airways, HMG has arranged with the Japanese Government for air services talks to be held in London starting on 26 October with a view to obtaining all the necessary rights for British airlines to operate to and through points in Japan.
To ensure that Hong Kong's and CPA's air traffic interests as respects both regional and other routes are adequately safeguarded.
4.
Electricity and Energy
Oil reserves
To establish strategic reser- ves of oil products
(i) The Purchase Agreement
between Owensbord and the power companies has been executed. The future of Owensbord will be reviewed by the Energy Policy Committee in October.
(ii) A voluntary code of
practice requiring oil importers to maintain reserves of fuel oil (except for power generation), gas oil and naphtha equivalent to not less than 30 days of net imports during the previous calendar year, has been drafted and found generally acceptable by the oil importers. Discussions
(i) To continue to manage
the tanker storage scheme and prepare for transferring the fuel oil from the tankers to land tanks of the power companies
(ii)To monitor the
finalisation of the code of practice by DTIC.
GF 323
CONFIDENTIAL #2
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