3
problem in the classification of specific products may be developing, and both Governments will seek by all means at their disposal to resolve any problems of classification practice which may be found to exist, in a manner compatible with the interests of both Governments. Any adjustment which cannot be made during an agreemen: year will be considered at the annual consultations provided for in paragraph 13. 12. In the implementation of this Agreement the rates of conversion into square yard equivalents listed in Annex B hereto shall apply. 13. The two Governments agree to consult annually during the last quarter of each agreement year to review this Agreement and whenever there is any question arising in the implementation of this Agreement.
14. If the Government of Hong Kong considers that as a result of limits specified in this Agreement, Hong Kong is being placed in an inequitable position vis-a-vis a third country, the Government of Hong Kong may request consultation with the Government of the United States of America with a view to taking appropriate remedial action such as a reasonable modification of this Agreement.
15. Mutually satisfactory administrative arrangements or adjust- ments may be made to resolve minor problems arising in the imple- mentation of this Agreement including differences in points of procedure or operation.
16. Either Government may terminate this Agreemer: effective at the end of an agreement year by written notice to the other Government to be given at least 90 days prior to the end of such agreement year. Either Government may at any time propose revisions in the terms of this Agreement.
17. During the term of this Agreement, the Government of the United States of America will not request restraint on the export of cotton textiles from Hong Kong to the United States under the procedures of Article 3 of the Long-Term Arrangements Regarding International Trade in Cotton Textiles done at Geneva on February 9, 1962. The applicability of the Long-Term Arrangements to trade in cotton textiles between Hong Kong and the United States shall otherwise be unaffected by this Agreement.
If this proposal is acceptable to the Government of Hong Kong, this note and your note of acceptance on behalf of the Government of Hong Kong shall constitute an agreement between our Governments.
Accept, Sir, the renewed assurances of my high consideration.
EDWARD E. RICE
Enclosures:
1. Annex A
2. Annex B
The Honorable
D. R. HOLMES, C.B.E., M.C., E.D.,
Director,
Commerce and Industry Department,
Hong Kong,
TIAS 6088