TNAG-1957-FCO40-2786-Hong-Kong-Animals-and-Plants-(Protection-of-Endangered-Speci-1989 — Page 85

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CONFIDENTIAL

My Lichistan Arfases Sinteful for views.

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#17 NOV 1989

HKCISI

FROM: A R Paul

Hong Kong Department

DATE: 17 November 1989

cc: PS/Mr Waldegrave

PS/PUS

Mr Bayne

Mr Gillmore

Mr Carrick

Mr Beetham, MAED

Mr Burns, News Department

Mr Edwards, Legal Advisers

Mr McKa

ME Mevaren, lame with them. M. 19.

PS/Mr Maude

Private Secretary?

Sgf I should see

HONG KONG AND THE IVORY TRADE

nfime

20/11

Problem

(318)

1.

Following the agreement reached at the CITES conference in October that all international trade in raw and worked ivory should

be banned, Hong Kong ivory traders face substantial financial

losses.

The Governor has formally asked us:

(a) either to try to establish an international buy-out fund to compensate Hong Kong's traders for their losses; or failing

that,

(b) to enter a reservation allowing Hong Kong to delay implementation of the ban for 6 months to enable the traders to

dispose of their existing stocks.

Recommendation

2.

The idea of an international buy-out fund is a non-starter, for

PJMARV

CONFIDENTIAL