(14)
UNCLASSIFIED
n.
17.
Mr Stuar
Reference.
PA
5-x11
Goodfellow Thanks. I agree.
D08 5/12
RESTRAINTS ON COTTON YARN
|ta,
1. I attach a minute from Mr Hazel covering a letter from Michael Butler to Philip Ridley on this subject.
2.
As we expected, Mr Butler has come down strongly against any extension of UK restraints on the import of cotton yarn.
In the meantime, however, Mr Chataway has approved the DTI proposal for a 3-year phasing-out of the restraints.
3. From the Hong Kong point of view we can sit on the side lines. Mr Dorward confirmed to us on 28 November that Hong Kong would support liberalisation as a principle but acknowledged that in practice in respect of this commodity Hong Kong would almost certainly stand to lose by liberalisation. Either solution therefore would be acceptable to them.
RECE.
•
RECH TAL:9.
5 DEC1973
HKK 6/5u8/17.
4 December 1973
J
elle
M A Goodfellow
Enc
DD 145177 219242 500M 4:73 GM 3643/2