TNAG-2028-FCO40-2890-Hong-Kong-freezing-of-Kuwaiti-and-Iraqi-assets-1990 — Page 9

FCO40 Hong Kong Department Records 聯邦事務部香港部檔案 All

RESTRICTED 內部文件

Fromecrery for Economic Services

¡ESB CR 5/1916/90

URGENT BY HAND

MEMO

To... PA's Office

(Attn. Mr R.A.I. Bunten)

Ref

Tel. No

810 2680

Date

22 August 1990

Your Ref

dated

In

102

HKB OZE

126

Telno 1558 Gulf Crisis: Implications for Hong Kong

RECEIVED IN REGISTRY

24 AUG 1990

DES

INDEX

As

We

(Mr Bunten/undersigned) spoke this morning. you are coordinating a response to FCO on the above telegram I forward herewith a copy each of the following for your collation and onward transmission:

(a)

(b)

An assessment of the impact of the Gulf crisis oil supply situation and on inflation and economic growth in Hong Kong

оп

the global

(Note: (i) Although the assessment was issued a week earlier and the situation in the Middle East is changing every day, in broad terms the views regarding the impact on the Hong Kong economy is still applicable. Some of the points will be included in a regular press release on the latest situation on the Hong Kong economy which is due for release on 24 August 1990.

(ii) The FCO

freely Chinese.

in

can draw on the points Aiacnasion with the But I have a slight reservation in giving the Chinese a full copy of the assessment, as some of the finer information

therein i a sunn]ied by individual oil companies.)

Some figures on Hong Kong's trade with Iraq and Kuwait respectively

You can see that such trade flows are insignificant (actually trivial) against Hong Because of the

Kong's

overall trade.

relatively small magnitudes, the growth rates also tend to fluctuate widely.

FEN & #7 AZ A

103

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