TNAG-2515-FCO40-3669-Future-of-Hong-Kong-International-Rights-and-Obligations-Sub-1992 — Page 96

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6.

The IMF an IBRD Executive Boards were informed on October 1 that Hong Kong WBS interested in hosting the 19987 Annual Meetings, and that this idea was supported by the UK and China. An informal Fund and Bank technical mission has

travelled to Hong Kong to assess the facilities, and found them adequate. They

are indeed probably better than in almost any other city in Asia. No final

decisions have yet been taken by the Hong Kong authorities. It is important that they assess all the issues, including potential costs before putting in a formal

bid. There are currently no other firm candidates. The issue of who would issue

invitations (China, UK or joint UK/China/Hong Kong) remains the subject of

bilateral discussions with the Chinese, and Fund/Bank staff. In addition, the

Hong Kong authorities are particularly concerned about the precise role that

would be played by the Chinese and Hong Kong ministers in hosting the meetings.

When the annual meetings were held in Berlin in 1988, the Berlin Mayor took the

lead rather than Chancellor Kohl. While the 'Berlin Model' is seen by all sides

as a useful precedent, as yet no clear agreement on this issue has been reached

with the Chinese. Hong Kong see the issue as particularly sensitive and

important because their aim would be to use the meetings to signal their

continued independence from the Chinese to the field of economic affairs ('one

country, two systems'). For the moment we should avoid getting into detailed

bilateral discussions on this issue, beyond indicating that we see the Berlin

meetings as providing a helpful precedent.

7. Some industrial countries have indicated that they would prefer that all

Annual meetings be held in Washington to reduce costs. There is some merit in

this, but there is obviously a special case for holding the meetings in Hong Kong

in 1997. Also, it is not clear that developing countries should accept all of

the Annual Meetings being held in Washington, and Suggestions along these

these lines

from the US or from the Germans, who hosted the 1988 Annual Meetings in Berlin,

are particularly likely to antagonise developing countries.

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- WOME 82 II 25-60-13