0003230
G.F. 3
CONFIDENTIAL
2
U.K.
U.S.A.
South Africa
$41.7 million
$29.7 million
36.6 million
out of total exports valued at $95.1 million. In 1966, the
principal markets were
Value
Tariff
U.S.A.
$52.5 million
8.5% - 17.5% a.v.
U.K.
$38.9 million
nil
·
Australia
$9.2 million
17% a.v.
New Zealand
$4.4 million
·
out of total exports valued at $113.8. million.
nil
The only exports
of note to the E.E.C. are to West Germany which took $2.3 million in 1966. As from 1st November, 1966, however, exports of grey cotton fabrics to West Germany became subject to quota restrictions. The quota, applicable to all grey fabrics, has been fixed at 2.9 million square yards for the perfod 1st November, 1966 to 31st December, 1967. Cotton fabrics are also subject to a quota in France of only 157.5 metric tons for 1967.
Exports of grey and finished cotton sheeting to the U.S.A. for the year 1966/67 are subject to a quota of 58.9 million square yards, The 1967 quota for loom state sheeting and shirting for the U.K. is, however, only 37.4 million square yards, indicating that the trade has now become less dependent on the U.K. market. Considerable success has been scored in surmounting the 8.5% 17.5% a.v. tariff in the U.S.A., and some progress has also been achieved in the Australian market. However, the industry claims that the type and quality of sheeting exported to these markets differ from those of sheeting sold to the U.K., and that success in surmounting tariff barriers elsewhere does not necessarily mean that Hong Kong would remain competitive in the U.K. market without preference. Moreover, the industry's experiences in connection with the recent U.K. 15% import surcharge indicate that the imposition of the 14% 16% C. E.T. could seriously affect Hong Kong's export performance by rendering Hong Kong sheeting unable to compete with U.K. domestic industry.
A
Poplin and broadcloth, cotton. grey (652 134)
In 1961, the principal markets for this item were -
U.K.
Malaya
U.S.A.
$7.2 million
$518 thousand
$161 thousand
out of total exports valued at $7.9 million.
In 1966, the principal markets were
CONFIDENTIAL