ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Tea- Crying Wolf

November 25, 1978 It is now one of our biggest markets after the United States. Our investment in South Africa has been estimated to be of the order of 1,000 million pounds by the Reserve Bank of South Africa; we estimate that about one-tenth of UK overseas direct investment is in South Africa. We are also very conscious of the importance attached by South Africa to her exports to the UK; these continue to represent about one-third of South Africa's total exports. We have firmly resisted political pressure to terminate the preferential access enjoyed by South African products. Our concern to see this valuable trade develop and to avoid any economic confrontation with South Africa has been repeatedly made clear in Parliament and the UN. Though it has been the policy of the Government to implement the UN resolution on arms, the Government has made it clear that it does not consider that political differences between independent states can be resolved by resort- fcig to general trade sanctions and me have made very clear in the United Nations and elsewhere our view that sanctions which have had to be applied in the special case of Southern Rhodesia must not be allowed to spread. (Quoted in "The South African Connection" Penguin, 1973, pp In the ten years since then, British

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