CONFIDENTIAL
foresees the danger that its trade with the UK in cotton
textiles will eventually have to surmount not only the tariff
(to be imposed on 1 January, 1972) but also quantitative
restrictions (upon our entry into EEC). In negotiating the terms
of our entry we shall have to bear very much in mind our
extensive textile trade with Hong Kong and other developing
Commonwealth countries and its importance to the economies of
those countries.
CONFIDENTIAL