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WEDNESDAY, DECEMBER 1, 1982
HK/EEC TEXTILE AGREEMENT
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THE ACTING SECRETARY FOR TRADE AND INDUSTRY, MR PETER TSAO, ANNOUNCED TODAY THAT A NEW TEXTILE AGREEMENT BETWEEN HONG KONG AND THE EEC WAS INITIALLED IN BRUSSELS LAST NIGHT (TUESDAY, NOVEMBER 30).
*WE ARE AWAITING FULL DETAILS OF THE AGREEMENT FROM THE HONG KONG DELEGATION IN BRUSSELS,+ HE SAID.
+THE NEGOTIATIONS HAVE BEEN VERY LONG AND DIFFICULT, AND THERE HAS BEEN GIVE AND TAKE ON BOTH SIDES. ALTHOUGH HONG KONG HAS HAD TO MAKE SOME CONCESSIONS, THE FINAL PACKAGE REPRESENTS AN IMPROVEMENT OVER THE ORIGINAL EEC DEMANDS. MOREOVER, I CAN SAY THE NEW ARRANGEMENTS DO NOT INCLUDE CUTBACKS ON CURRENT TRADE LEVELS, AND IN MOST CATEGORIES HONG KONG'S TRADING OPPORTUNITIES IN 1983 ARE HIGHER THAN CURRENT TRADE LEVELS.+
+AS ALWAYS WITH AGREEMENTS SUCH AS THIS ONE THERE IS SOME TIDYING UP WORK TO BE DONE, BUT THE DIRECTOR OF TRADE MR LAWRENCE MILLS, WILL HOLD A PRESS CONFERENCE ON HIS RETURN TO HONG KONG ON FRIDAY (DECEMBER 3), MR TSAO SAID,
THE AGREEMENT IS FOR A FOUR-YEAR PERIOD BEGINNING ON
JANUARY 1, 1983.
COMMENTING ON THE ANNOUNCEMENT, THE ACTING DIRECTOR OF TRADE, MR PETER LO SAID: THE TRADE DEPARTMENT IS GEARED UP TO ISSUE PRELIMINARY QUOTAS FOR 1983 AND, AS ALREADY ANNOUNCED, THESE WILL BE AVAILABLE FOR COLLECTION ON DECEMBER 15.+
THE DIRECTOR OF TRADE, MR LAWRENCE MILLS, COMMENTING ON THE EEC'S ANNOUNCEMENT ON THE CONTENT OF THE NEW FOUR-YEAR TEXTILE AGREEMENT INITIALLED LAST NIGHT IN BRUSSELS, SAID +WE HAVE AN AGREEMENT. THE COMMUNITY IS PRESENTING IT AS ONE IN WHICH THEY HAVE SECURED CUTBACKS FROM HONG KONG. HONG KONG WAS NOT PREPARED TO NEGOTIATE DEPTH OF CUTBACK, BUT WAS PREPARED TO CONSIDER ANY FORMULAE THAT ENSURED THAT IMPORTS IN 1983 WOULD BE NO LESS THAN IMPORTS IN 1981. IT HAS ACHIEVED THIS WITH SOME ROOM TO SPARE. SO FROM HONG KONG'S POINT OF VIEW THERE HAS BEEN NO CUTBACKS.
+TAKING THE AGREEMENT AS A WHOLE, THE TRADE OPPORTUNITIES FOR 1983 ARE HIGHER - IN SOME CASES CONSIDERABLY HIGHER IMPORTS IN 1981, SAID MR MILLS.
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THAN
+WE ALSO OBTAINED VALUABLE IMPROVEMENTS IN THE COMMUNITY'S PROPOSALS ON GROWTH AND FLEXIBILITY. THE AGREEMENT PROVIDES FOR AUTOMATIC SWING, AUTOMATIC CARRYOVER, CARRYFORWARD AND ALL THE USUAL FEATURES. GROWTH RATES FOR GARMENTS ARE BETWEEN 0.5 PER CENT AND 6 PER CENT, CONCLUDED MR MILLS.
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