In return, the importing country is required to offer terms, including
base levels and growth rates, more liberal than those laid down in Article 3.
7. Articles 3 and 4 of the MFA are similar to Articles 3 and 4 of the
former Cotton Textiles Arrangement. Hong Kong's cotton textiles agreement
with the UK and with the Six have hitherto been on the "mutually acceptable"
Article 4 basis, under which she has administered the controls herself.
The Hong Kong Government has therefore been in a position to allocate the
quota between her textile exporters who are able to plan their business
with greater confidence, and obtain a better price, than would be the case
if the licences, and therefore the choice of supplier, were in the hands of
the importers.
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