GENERAL AGREEMENT ON
TARIFFS AND TRADE
Hong Kong
RESTRICTED COT/W/122
17 December 1969
Special Distribution
COTTON TEXTILES COMMITTEE
Suggestions made by Certain Exporting Countries Concerning
Understandings to be Agreed upon for a Future Operation
of the Cotton Textiles Arrangement
RICHIVED IN
RLCISTRY No.45
MCC 13
On the working hypothesis that the Arrangement should be extended in its present form for years, the Committee agreed that the importing countries would endeavour further to improve trading opportunities for the exporting countries and would review and progressively relax existing restrictions, with a view to their eventual elimination, and specifically:
(i)
(ii)
(iii)
(iv)
that restrictions still maintained under Article 2 should, in accordance with the spirit of that Article, be entirely removed within the period of extension of the Arrangement;
that arrangements made under Article 4 should be generally in accordance with the other provisions of the Arrangement, in particular with regard to the provisions in paragraph 4 of Article 3 and in Annex B;
that the increased trading opportunities provided in accordance with Annex B should generally be at 5 per cent per year or a level no lower than the growth in total imports of cotton textiles in the market concerned, whichever is the greater;
that the provisions for flexibility in the operation of restraint measures should generally include:
(a) provision that the agreed level for any particular product in
any year may be exceeded by 10 per cent provided that the total exports subject to restraint do not exceed the agreed level; (b) provision that the agreed levels for any year may be exceeded
by 10 per cent provided that there has been a corresponding shortfall in the preceding year; and
(c) provision that the agreed levels may be exceeded by a further 10 per cent provided that such excess is deducted from the agreed levels for any immediately subsequent period;
PIA Ban
भा
./.