DAILY REVIEW OF BUSINESS TOPICS AS REPORTED IN THE CHINESE PRESS
frade Industry & Customs Department Translated by the Commerce gui Whitluspry De
✦ JAPANESE CURB MOVE ON HONG KONG'S TEXTILES
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-3 JUL 1978
DOR OFFICER
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Authoritative people in local textile circles said that a textile federa-
tion in Japan had formed a committee to persuade the govt. to apply the Multi- fibre Arrangement with a view to imposing restrictions on imports of certain textile and apparel products. Commenting on this report, an editorial in Wah Kiu Yat Po (14/6) opined that Japan is short of reason for imposing restrictions on textile and garment products from HK. It said, " Japan is the biggest supplier of fabrics for local garment industry. Last year, imports of Japanese fabrics into HK were worth HK$ 1.56 billion, and there is a tendency of further increases. According to statistics of 1977, Japan ranked first in respect of imports of cotton yarn, fabrics, garments and related fibre into HK. Hence, it is unfair to impese restictions on our products manufactured from Japanese imported, raw material.' The editorial went on to say that Japan has little justification for imposing restrictions on textile imports from HK in view of the low percentage of imported textiles in Japan's consumption, and the Japanese offshore operations in HK. It added, "The good sales of Japanese goods in HK wholly depend on the flourish of local economy. Should textiles, the sinews of local industry, be hit, it will definitely weaken the purchasing power of local people for Japanese products. At last, the paper suggested that HK, on one hand, should work hard to resist the Japanese campaign, and on the other, should build up a satisfactory performance level in the garment trade with Japan so that it will still have reasonable
access to this market when the restrictions materialise.
Issue Number : 45/78
Date: 14.6.78