Conclusion and recommendation
15.
We believe that the evidence of prospective growth of imports of polyester/cotton textiles from Thailand, Macao and Colombia is such as to warrant our securing restraint arrangements with the same effect as those already in force as regards South Korea and Taiwan. Ministers are asked to agree that
છૂ we should consult with these countries with a view
to them taking unilateral action to limit their
exports;
b
C
e
()
f
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restraints should have the same coverage and be
for the same period as those in the case of South Korea and Taiwan;
restraint levels should be based on either the
amount delivered during 1973 or 2 million square yards (whichever is lower), with a 5% annual growth rate for subsequent years;
as an inducement to Thailand and Colombia
we should offer to raise their cotton ouotas to
2 million square yards each and allow limited transfers between the quotas;
if any of the countries are not prepared to
introduce export restraint measures we should act
unilaterally to restrict imports.
we should be authorised to consult with/restrain
any other 'low-cost' supplier where import licence applications reach the million square yards7
level
we should go slow' on the issue of import licences.
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