G.F. 336
CONFIDENTIAL #5
5
2.
1
2.1
Direct effects of Mr. Tran's proposals
on Hong Kong's trade
Over the last five years, Hong Kong's exports
of the 7 sensitive items ranged between roughly (see
Footnote 3) 59% and 62% of exports of textiles and
clothing to the EEC, 20% and 24% of global exports of textiles and clothing, and 11% and 12% of total domestic
exports.
2.2
2.2.1
The cut-back in actual levels of trade
In 1976, the value of Hong Kong's exports of
the 7 items to the EEC was HK$3,345 million. Had
Mr. Tran's proposed quantitative limits been in force in
1976, assuming no change in the unit prices, the value
of Hong Kong's exports of the 7 items would have been-
held down to IIK$2,865 million (see Footnote 4).
/2.2.2
...
Footnote 3 :
As the Hong Kong trade statistics do not show knit underwear separately from
knit T-shirts, these percentages are slightly inflated.
Footnote 4: The figures in paragraph 2.2.1 include an estimate of the value of exports of
knit shirts and T-shirts derived from licensing records maintained since 1975 in respect of the current agreement with the EEC. They do not include exports of
knit underwear.
(CD&VIVED OFTAL VK HI