CONFIDENTIAL
THE COMMITTEE NOTED ONE MAJOR IMPORTING PARTICIPANT'S STATEMENT CONCERNING THE BASIS UPON WHICH IT INTENDED TO AHCIEVE ITS STATED OBJECTIVES BY BILATERAL CONSULTATIONS AND NEGOTIATIONS AND NOTED THE EXPRESSION OF GOODWILL AND FLEXIBILITY MADE BY CERTAIN EXPORTING PARTICIPANTS NOW PREDOMINANT IN THE EXPORTING OF TEXTILES PRODUCTS OF ALL THE THREE FIBRES COVERED BY THE ARRANGEMENT. (RESERVE EGYPTE)
THE COMMITTEE AGREED THAT WITHIN THE FRAMWORK OF THE MFA ANY SUCH CONSULTATIONS AND NEGOTIATIONS SHOULD BE CONDUCTED IN A SPIRIT OF EQUITY AND FLEXIBILITY WITH A VIEW TO REACHING A MUTUALLY ACCEPTABLE SOLUTION UNDER ARTICLE 4.3 OR ARTICLE 3 PARAGRAPHS 3 AND 4, WHICH DOES INCLUDE THE POSSIBILITY OF JOINTLY AGREED REASONABLE DEPARTURES FROM PARTICULAR ELEMENTS IN PARTICULAR CASES. (RESERVE EGYPTE)
THE COMMITTEE ALSO URGED ALL PARTICIPANTS CONCERNED TO MOVE PROMPTLY TO NEGOTIATE MUTUALLY ACCEPTABLE SOLUTIONS IN THE SPIRIT OF THE MFA.
THE COMMITTEE AFFIRMED THAT IN SEEKING SUCH SOLUTIONS THE INTERESTS OF THE DEVELOPING COUNTRIES, AND SMALL SUPPLIERS SHALL BE RECOGNIZED,''
19.
TAKING INTO ACCOUNT THE EVOLUTIONARY AND CYCLICAL NATURE OF. TRADE IN TEXTILES AND THE IMPORTANCE TO BOTH IMPORTING AND EXPORTING COUNTRIES OF PRIOR RESOLUTION OF PROBLEMS IN A CONSTRUCTIVE AND EQUITABLE MANNER FOR THE INTEREST OF ALL CONCERNED, AND ON THE BASIS OF THE ELEMENTS MENTIONED IN PARAGRAPH 1 THROUGH 8 ABOVE, THE T C CONSIDERED THAT THE MFA IN ITS PRESENT FORM SHOULD BE EXTENDED FOR A PERIOD OF FOUR YEARS SUBJECT TO CONFIRMATION BY SIGNATURE AS FROM 15 DECEMBER 1977 OF A PROTOCOL FOR THIS PURPOSE. (RESERVE EGYPTE).''
5+
DENMAN EMPHASISED THE SIGNIFANCE OF THE WORDS THE POSSIBILITY OF JOINTLY AGREED REASONABLE DEPARTURES FROM
PARTICULAR ELEMENTS IN PARTICULAR CASES'' IN PARA 5. HE CLAIMED THAT
THE CUMULATIVE EFFECT IN PARA 9 OF THE WORDS 'PRIOR RESOLUTION OF
PROBLEMS**, **ON THE BASIS OF THE ELEMENTS MENTIONED IN PARA 1
THROUGH PAR 8 ABOVE"' AND **SUBJECT TO FONFIRMATION BY SIGNATURE'
WAS TO MAKE IT CLEAR ENOUGH THAT EXTENSION OF THE MFA IN ITS
PRESENT FORM WAS DEPENDENT ON THE OUTCOME OF BILATERAL NEGOTIATIONS.
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2.
CONFIDENTIAL
/ 6. HE SAID