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MONDAY, DECEMBER 2, 1985
THE DEPUTY DIRECTOR OF TRADE, MR JOSEPH WONG, SAID THE ORIGINAL PROPOSAL WAS ACTIVELY OPPOSED BY THE TRADE DEPARTMENT THROUGH THE LONDON AND BRUSSELS OFFICES WHOSE STAFF VISITED COMMISSION OFFICIALS AND MEMBER STATE REPRESENTATIVES TO PUT HONG KONG'S VIEWS.
TO TAKE INTO ACCOUNT SPAIN AND PORTUGAL JOINING THE EEC, IT IS ALSO PROPOSED THAT QUOTA LEVELS AND CEILINGS FOR INDUSTRIAL PRODUCTS SHOULD IN GENERAL BE INCREASED BY 9.5 PER CENT.
THE NEW PROPOSALS WILL BE PUT FORWARD FOR FORMAL ADOPTION AT A MEETING OF THE COUNCIL OF MINISTERS ON DECEMBER 16 OR 17, MR WONG SAID.
DETAILS WILL BE ANNOUNCED TO THE TRADE AS SOON AS POSSIBLE, HE ADDED.
THE 12 PRODUCTS INVOLVED ARE: TRAVEL GOODS OF MATERIALS OTHER THAN ARTIFICIAL PLASTIC SHEETING: PROTECTIVE GLOVES OF LEATHER OR LEATHER COMPOSITION FOR ALL TRADES: RUBBER FOOTWEAR; FOOTWEAR WITH OUTER SOLES OF LEATHER OR COMPOSITION LEATHER; IMITATION JEWELLERY; PORTABLE ELECTRIC BATTERY AND MAGNETIC LAMPS OTHER THAN MINERS' SAFETY LAMPS COLOUR TELEVISIONS DIODES, TRANSISTORS QUARTZ WATCHES; DOLLS; OTHER TOYS EQUIPMENT FOR PARLOUR, TABLE AND FUNFAIR GAMES.
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IN 1984, THE EXPORTS OF THESE 12 PRODUCTS TO THE EEC WERE WORTH $4 597 MILLION OUT OF TOTAL EXPORTS TO THE EEC OF 327 366 MILLION. THEREFORE THEY REPRESENTED ABOUT 16.8 PER CENT OF THE TOTAL. HOWEVER, THE 1984 GSP QUOTA OF THE EEC FOR THE 12 AMOUNTED TO ONLY $238 MILLION OR ABOUT 5.2 PER CENT OF THE TOTAL $4 597 MILLION VALUE.
TEXTILES QUOTA BONUS ALLOCATION SCHEME REVISED
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THE TRADE DEPARTMENT TODAY (MONDAY) ANNOUNCED A REVISION OF RULES FOR THE TEXTILES QUOTA BONUS ALLOCATION SCHEME FOR ALL RESTRAINED MARKETS WITH EFFECT FROM NEXT YEAR.
THE REVISION IS INTRODUCED FOLLOWING A REVIEW OF THE SCHEME AND ON THE ADVICE OF THE TEXTILES ADVISORY BOARD.
UNDER THE REVISED SCHEME, ONLY TRANSFEREES WHO NET TRANSFER IN QUOTA, ON A TEMPORARY BASIS, IN ANY CATEGORY IN ANY YEAR AMOUNTING TO MORE THAN 35 PER CENT OF THEIR QUOTA HOLDING IN THAT CATEGORY IN THAT YEAR SHALL BE ELIGIBLE FOR A BONUS ALLOCATION IN THAT CATEGORY IN THE YEAR IMMEDIATELY FOLLOWING, OF AN AMOUNT NOT EXCEEDING THEIR UTILISED TEMPORARY TRANSFER-IN IN THE CATEGORY CONCERNED.
/A COMPANY