THURSDAY, APRIL 26, 1979
DETAILS OF U.S.-HK TEXTILE TALKS
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THE DIRECTOR OF TRADE, INDUSTRY AND CUSTOMS, MR. DAVID JORDAN, TODAY (THURSDAY) GAVE DETAILS OF THE ARRANGEMENTS WHICH HAD BEEN AGREED WITH THE UNITED STATES FOLLOWING THREE ROUNDS OF TEXTILE TALKS IN JANUARY, MARCH AND APRIL THIS YEAR.
THESE TALKS WERE HELD IN ACCORDANCE WITH THE TERMS OF THE MULTI-FIBRE ARRANGEMENT (MFA) AND THE U.S. - HK TEXTILE AGREEMENT.
MR. JORDAN RECALLED THAT THE UNITED STATES ADMINISTRATION HAD BEEN CONCERNED ABOUT POTENTIAL SURGES+ IN THE VOLUME OF TEXTILE IMPORTS INTO THE U.S.A.
AT THE SAME TIME HONG KONG HAS BEEN SEEKING SOME GREATER CERTAINTY FOR ITS EXPORTS TO THE U.S.A. OF TEXTILES COVERED BY THE EXPORT AUTHORISATION SYSTEM, WHICH APPLIES TO PRODUCTS WHICH ARE NOT SUBJECT TO SPECIFIC RESTRAINT LIMITS.
+I THINK THAT WE HAVE BEEN ABLE TO WORK OUT A BALANCED PACKAGE WHICH GOES A GOOD WAY TO MEETING THE CONCERNS OF BOTH GOVERNMENTS, MR. JORDAN SAID.
MR. JORDAN SAID THAT HONG KONG HAD DECIDED THAT IN 1979 IT WOULD NOT USE THE CARRYFORWARD (ANTICIPATION) PROVISIONS OF THE TEXTILE AGREEMENT FOR MOST OF THE APPAREL AND WOOL PRODUCT CATEGORIES.
HONG KONG HAD ALSO DECIDED THAT IT WOULD NOT NEED TO USE THE CARRYOVER IN 1979 OF THE UNSHIPPED QUANTITIES IN 1978 OF FABRICS AND YARNS.
SEVEN CATEGORIES OF APPAREL (CATS. 336, 337, 342,
345, 643/4, 648 AND 633/4/5) WHICH ARE AT PRESENT SUBJECT TO SPECIFIC RESTRAINT LIMITS HAVE BEEN DERESTRAINED AND DROPPED INTO THE +BASKET+.
FIC
+ALTHOUGH THIS REPRESENTS A MEASURE OF LIBERALISATION,+ MR. JORDAN SAID, +WE RECOGNISE THAT THE CHANGEOVER FROM SPÉCIF IC RESTRAINT TO BASKET CONTROL COULD GIVE RISE TO SOME DISRUPTION FOR THOSE COMPANIES CURRENTLY HOLDING QUOTA IN THESE SPECIFIC CATEGORIES. WE WILL THEREFORE BE MAKING SPECIAL ARRANGEMENTS FOR THESE COMPANIES FOR THE REST OF THIS YEAR.
+WE HAVE ALSO SECURED AN IMPROVED CONSULTATION CLAUSE CONCERNING PRODUCTS NOT SUBJECT TO A SPECIFIC RESTRAINT LIMIT. UNDER THE PRESENT ARRANGEMENT WHERE THE U.S.A. AND HONG KONG FAIL TO REACH AGREEMENT ON THE NEED TO LIFT A PARTICULAR PRODUCT FROM THE +BASKET+ AND GIVE IT A SPECIFIC LIMIT OR ON THE SPECIFIC LIMIT TO BE APPLIED, THE U.S.A. CAN DETERMINE THE LEVEL AT WHICH WE SHOULD HOLD EXPORTS. UNDER THE REVISED ARRANGEMENT, WHEN WE CANNOT AGREE ON A FIGURE, HONG KONG WILL BE ENTITLED TO A 20 PER CENT INCREASE OVER PREVIOUS TRADE LEVELS FOR COTTON AND MAN-MADE FIBRE PRODUCTS AND A SIX PER CENT INCREASE FOR WOOL PRODUCTS.
/+APART FROM