TNAG-1768-FCO40-2522-Hong-Kong-and-the-Multilateral-Investment-Guarantee-Agency-(-1988 — Page 51

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OELNAN 7426 RESTRICTED

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PP ANGUI HAMIL GRCAY GIBRA MONTS GRTUR TORTO PEKIN

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101142Z MAR

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RESTRICTED

FM ODA LONDON

TO PRIORITY HONG KONG

TELNO. MODEV 003

OF 101142Z MARCH '88

102/1

HKC 102/1

28 MAR 198

37

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INFO. PRIORITY ANGUILLA, HAMILTON, GRAND CAYMAN, GIBRALTAR, MONTSERRAT, GRAND TURK, TORTOLA AND PEKING

MULTILATERAL INVESTMENT GUARANTEE AGENCY (MIGA).

1. PLEASE REFER TO ODA SAVINGRAM REF. 1098788/990/101/201A DE SPATCHED 12 FEBRUARY 1988.

2. PARA. 1 EXPLAINS THAT US RATIFICATION OF MIGA CONVENTION WILL BE SUFFICIENT TO BRING IT INTO FORCE. THIS IS EXPECTED ARCUND THE END OF MARCH. INAUGURAL MEETING OF MIGA'S COUNCIL OF GOVERNORS IS PROVISIONALLY SCHEDULED FOR 16 APRIL. AS U.K. WISHES TO PARTICIPATE IN THIS MEETING WE MUST RATIFY BEFORE THAT DATE. WE HOPE TO RATIFY IN EARLY APRIL.

3. REQUEST REPLY TO SAVING OF 12 FEB. BY 21 MARCH INSTEAD OF 4 APRIL. NOTE (FOR HONG KONG:-) WE REALISE THAT RESPONSE FROM PRC IS NOT (NOT) EXPECTED UNTIL EXPIRY OF 40 DAY PERIOD CN 21 MARCH. IF NO RESPONSE HAS BEEN RECEIVED FROM PRC BY THEN WE SUGGEST THAT WE SHOULD PROCEED ON THE ASSUMPTION THAT HK WISHES TO BE INCLUDED. IF PRC RESPOND NEGATIVELY AND IF IT IS DECIDED NOT TO CHALLENGE THEM HK COULD THEN BE WITHDRAWN FROM COVER OF CONVENTION. THIS IS A PROPOSED CHANGE OF TACTIC FROM TEMPORARY EXCLUSION FROM OUTSET WITH POSSIBILITY OF SUB SE QUENT INCLUSION.

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