HK
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FINANCIAL TIMES
Cutting dated
1:4
7 DEC 1971 19
U.K. textile move upsets Hong Kong exporters
BY OUR OWN CORRESPONDENT
HONG KONG, Dec. 6.
UNCONFIRMED reports reacle realising that foreign brands had ing here, said to emanate from no pull in Australia had begun Singapore, that the British buying control of established Government is to reimpose Australian brand names. They quotas on Hong Kong cotton then cut down or discontinued woven textiles exports is causing local production and substituted dismay in the colony-
an imported product under the
Six associations representing local brand name he said. the textile industry have issued a statement saying they were most upset and annoyed by the decision of the U.K. Govern- ment. They strongly oppose such a decision to introduce quolas on top of the Common- wealth preference tariff" as from next year.
A government spokesman here, however was unable to con- firm that any decision has been taken by the UK. Government.
The statement however came just one day after the colony's financial secretary Mr. C. P. Haddon-Cave left for Londonį for talks with U.K. Goverament : officials on the future of Hong Kong's exports of woven cotton: Textiles to the U.K.
Michael Southern writes from Sydney: A new and disturbing technique is being used by Far: Eastern textile manufacturers in Australia following the U.S. trade restrictions, a company chairman said here.
Mr. Frank Theeman, chairman' of Östi Holdings, said that the competitors from the Far East,
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