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WEDNESDAY, DECEMBRI 4, 1985
THE FINAL VERSION OF THE BILL WOULD CUT BACK MFA TEXTILE EXPORTS FROM HONG KONG BY ABOUT 12 PER CENT FROM ITS 1984 LEVEL. NON-MFA EXPORTS (SILK, RAMIE AND LINEN) WOULD BE CUT BACK BY ABOUT 70 PER CENT. THE OTHER TWO MAJOR EXPORTERS, SOUTH KOREA AND TAIWAN WHO LIKE HONG KONG HAVE BEEN SINGLED OUT FOR THE HARSHEST TREATMENT, WOULD FIND THE IR EXPORTS CUT BY ABOUT 30 PER CENT FROM THE IR 1984 LEVEL.
IT WOULD ALSO FREEZE IMPORTS INTO THE UNITED STATES FROM OTHER COUNTRIES EXCEPT THE EEC AND CANADA AT THE 1984 LEVEL, WITH MINIMAL GROWTH.
MR WONG SAID THE IMPACT OF THE FINAL VERSION OF THE BILL ON HONG KONG WAS THE SAME AS THAT OF THE ORIGINAL VERSION INTRODUCED INTO THE CONGRESS IN MARCH, AN EARLIER AMENDMENT WHICH WOULD HAVE REDUCED THE IMPACT ON HONG KONG HAS BEEN MODIFIED IN THE FINAL VERSION, SO THAT THERE IS NO CHANGE FROM THE ORIGINAL.
NOTE TO EDITORS:
BRIEFING ON JENKINS BILL
***
THE ACTING DIRECTOR OF TRADE, MR PAUL WONG, WILL GIVE A PRESS BRIEFING TODAY (WEDNESDAY) ON THE LATEST DEVELOPMENTS OF THE JENKINS BILL.
THE BRIEFING WILL BE HELD AT 3 PM IN THE TRADE DEPARTMENT'S CONFERENCE ROOM ON THE 15TH FLOOR, OCEAN CENTRE, CANTON ROAD.
YOU ARE INVITED TO ATTEND.
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