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WEDNESDAY, DECEMBER 21, 1977
MFA TO BE EXTENDED FOR FOUR YEARS
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THE DIRECTOR OF TRADE, INDUSTRY AND CUSTOMS, THE HON. DAVID JORDAN, HAS REVEALED THAT THE MULTI-FIBRE ARRANGEMENT (MFA) WOULD BE EXTENDED FOR A PERIOD OF FOUR YEARS, UNTIL THE END OF 1981.
ANSWER ING A QUESTION FROM THE HON. FRANCIS TIEN IN THE LEGISLATIVE COUNCIL TODAY ABOUT THE CONCLUSIONS REGARDING THE FUTURE OF THE MFA IN THE TEXTILES COMMITTEE UNDER THE GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT), MR. JORDAN SAID THIS WAS ONE OF THE MOST IMPORTANT CONCLUSIONS REACHED ON DECEMBER 14 FROM HONG KONG'S POINT VIEW.
HE SAID THE OTHER MOST IMPORTANT ONE WAS THAT +MUTUALLY ACCEPTABLE SOLUTIONS TO TEXTILE TRADE PROBLEMS UNDER THE MFA INCLUDE THE POSSIBILITY OF JOINTLY AGREED REASONABLE DEPARTURES FROM PARTICULAR ELEMENTS OF THE MFA IN PARTICULAR CASES.+
DESIGN OF NEW $1 COIN FINALISED ******
THE FINANCIAL SECRETARY, THE HON. PHILIP HADDON-CAVE SAID THE DESIGN OF THE NEW ONE DOLLAR COIN BASED ON RECOMMENDATIONS OF THE COINAGE REVIEW COMMITTEE HAD BEEN FINALISED AND HE DID NOT THINK THE PUBLIC WILL FIND IT HARD TO IDENTIFY THE NEW COIN.
HE WAS REPLYING TO A QUESTION BY THE HON. HILTON CHEONG-LEEN IN THE LEGISLATIVE COUNCIL TODAY ON WHETHER THE GOVERNMENT WOULD CONSIDER INSCRIBING ON THE PROPOSED NEW $1 AND 10 CENT COINS THE IR RESPECTIVE DENOMINATIONS IN CLEAR ARABIC NUMERALS IN ORDER TO FACILITATE READY IDENTIFICATION.
MR. HADDON-CAVE SAID THE INSCRIPTION AND MOTIF ON BOTH SIDES OF THE NEW DOLLAR COIN WOULD BE SIMILAR TO THE PRESENT ONE EXCEPT THAT THE LATEST EFFIGY OF THE QUEEN WOULD BE USED.
HE SAID IT WOULD BE DIFFICULT TO CONFUSE IT WITH ANY CENT DENOMINATION COIN BECAUSE IT WOULD BE LARGER IN DIAMETER WEIGH MORE THAN THE 50 CENT COIN CARRY A DIFFERENT MOTIF AND ITS COLOUR WOULD BE DIFFERENT BECAUSE IT WOULD BE MADE OF CUPRO-NICKEL INSTEAD OF NICKEL BRASS, THE PETAL FROM WHICH THE CENT DENOMINATION COINS ARE MADE.
HE NOTED THAT IT WOULD ALSO BE DIFFICULT TO CONFUSE THE ONE DOLLAR COIN WITH EITHER THE TWC OP FIVE DOLLAR COINS.
+THE DOLLAR