INTRODUCTION
When the short-term arrangement on cotton textiles, which was in force for the twelve-month period 1 October 1961 to 30 September 1962, was negotiated in July 1961 under the auspices of GATT, provision was made for the setting up of a Cotton Textiles Committee which was to undertake work looking toward a longer-term solution to the problems which arise in the field of cotton textiles. The establishment of the Cotton Textiles Committee was approved by the CONTRACTING PARTIES to GATT in November 1961.
Following preparatory work by sub-committees which had been set up by the Cotton Textiles Committee, the Committee itself met from 29 January to 9 February 1962 and drew up the Long-Term Arrangement regarding International Trade in Cotton Textiles. The Arrangement, which is for a period of five years, came into force on 1 October 1962.
As at 1 January 1963 the following countries were parties to the Long- Term Arrangement: Australia, Austria, Canada, Denmark, the six countries of the European Economic Community, India, Israel, Japan, Mexico, Norway, Pakistan, Portugal, Spain, Sweden, United Arab Republic, United Kingdom (including acceptance on behalf of Hong Kong) and United States.
The countries party to the Long-Term Arrangement also make up the membership of the Cotton Textiles Committee. The Committee, in addition to being concerned with the administration of the Arrangement will, in carrying out the functions assigned to it under Article 8 of the Arrangement, undertake studies on trade in cotton textiles and will keep the operation of the Long-Term Arrangement under regular review. Thus the Committee has a constructive role to play in connexion with the pro- blems that arise in the field of cotton textiles.
This booklet contains the text of the Long-Term Arrangement. It also sets out certain understandings in connexion with the Arrangement reached by the Cotton Textiles Committee during its meeting from 29 Janu- ary to 9 February 1962.