TNAG-1493-FCO40-2051-Future-of-Hong-Kong-General-Agreement-on-Tariffs-and-Trade-(-1986 — Page 172

CONFIDENTIAL

5. WHEN THE TIME COMES FOR AN APPROACH TO THE SWISS AUTHORITIES YOU WHILL WISH TO CONSIDER WHETHER IF OUR AMM IS TO UNDERLINE A TOTALLY SEPARATE INDENTITY FOR THE HONG KONG OFFICE HERE, CARTLAND SHOULD BE LEFT TO NEGOTIATE THE BEST ARRANGEMENT HE CAN DIRECT WITH THE SWISS AUTHORINTHIES, OR WHETHER THIS MISSION SHOULD STILL PLAY THE LEADING ROLE. ENTHER WAY, IT WILL BE IMPORTANT TO SORT OUT IN ADVANCE PRECISLY WHAT WE ARE SEEKING TO ACHIEVE BEFORE WE SPEAK TO THE SWISS.

6.

I AM COPYING THIS TELEGRAM TO CARTLAND.

MOSS

HONG KONG AGREEMENT : RESTRICTED

LIMITED

HD/HKD HD/FED

RESEARCH D (FE)

DEP/HD PUSD PS/MR RENTCN MR WILSON

COPIES TO:

MR FIFOOT, LEGAL ADVISERS MR WOOD LEGAL ADVISERS

CONFIDENTIAL