6.5. 223
CONFIDENTIAL
Hong Kong's Exports of Cotton Textiles to the Ubud Kangiou
1966-1970
4.
QUOTA
Heads of Agreement
Hong Kong's exports during the period shall be restrained under a saparato country quota for Hong Kong to be administered by export Licensing in Hong Kong Lvith matching licences issued automatically by the Board of Trade_to British importers against copies of Hong Kong export licences/.
Note
The Board of Trade undertake to see whether the dual licensing system need be continued in respect of Hong Kong's. exports immediately after the proposed meeting of the Cotton Textiles Committee in Genova.
B. LEVEL
The overall level of Hong Kong's country quota for 1966 will be 185 million square yards for products restrained under the 1963-5 Undertaking.
2.
There will in addition be axtra yardage for newly restrained products based as far as practicable on the annual average of Hong Kong's exports of these items for the throe years 1962-1964.
3.
C. GRO TE
The level for yarns will be 6.3 million pounds.
There will be a growth factor of 1% per annum to apply in 1967 and in each succeeding year to the previous year's overall level and to each of the group and category levels.
1
Note
Should the growth of domestic consumption of cotton goods increase markedly in excess of the expected rate, the Board of Trade undertake to consider the possibility of allowing increased growth to all restricted suppliers.
D. GROUPS
Within the overall yardage the following separate group levels will apply :
(i) Made-ups and Garments :
85 million square yards
(ii) Finished Piecegoods
30 million square yards
There will be no group level for loomstate piecegoods.
*
2.
Yardage m
transferred from the made-ups and garments group into either the fished placegoods groups or the loomstate
!
/group without ....
CONFIDENTIAL