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Friday, December 28, 1973
EXPORT LICENSING OF PLASTIC MATERIALS
A licensing scheme to check on the export and re-export of
plastic raw materiale from Hong Kong is to be introduced by the Commerce
and Industry Department.
From January 1 licences will be required for all exports and re-
exports of plastic materials, regenerated cellulose and artificial resins,
The items concerned are classified under Group 581 of the Hong
Kong Imports and Exports Classification List.
An amendment to permit licensing has been made to the Import
and Export (General) Regulations.
The Deputy Director of Commerce and Industry, Mr. Jimmy McGregor,
said today that licensing was being implemented as a precautionary
measure on the advice of the Trade and Industry Advisory Board.
"It would be foolhardy to ignore the fact that our supplies of
plastic raw materials may be affected considerably by reduced oil production,"
he added.
We need, therefore, to keep a close check on re-exports, and the
introduction of licensing will enable this to be done."
Mr. MoGregor pointed out that during 1973 re-exports as a proportion
of imports have been rising and this was causing concern to the industry. If
this trend continued it may be necessary to restrict re-exports.
Much will