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MONDAY, FEBRUARY 16, 1987
TEXTILES TRADE FACING UP TO CHALLENGE
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HONG KONG'S TEXTILES AND GARMENT INDUSTRIES SHOULD CONTINUE TO DO WELL THIS YEAR PROVIDED THAT THE MOST SERIOUS THREAT TO THE TERRITORY'S EXPORTS - PROTECTIONISM IN THE UNITED STATES CAN BE CONTAINED, THE SECRETARY FOR TRADE AND INDUSTRY, MR E.P. HO, SAID TODAY (MONDAY).
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SPEAKING AT THE ANNUAL SPRING DINNER OF THE FEDERATION OF HONG KONG GARMENT MANUFACTURERS, MR HO NOTED THAT PROTECTIONIST FORCES WERE STILL AT WORK.
+FOR THIS REASON WE MUST NOT RELAX OUR VIGIL, BUT MUST WORK ALL THE HARDER FOR FREE AND FAIR INTERNATIONAL TRADE,+ HE SAID.
MR HO SAID HONG KONG'S TEXTILES AND GARMENT TRADE AND INDUSTRY HAD RIDDEN MANY WAVES IN THE PAST AND HAD ALWAYS COME BACK IN BETTER SHAPE TO FACE FURTHER CHALLENGES.
+1 AM CONFIDENT THAT IN THE YEARS AHEAD WE WILL BE ABLE TO LOOK BACK ON 1986 AND 1987 AND COME TO THE SAME CONCLUSION.+
ON THE REVIEW OF THE TEXTILE QUOTA SYSTEM, MR HO SAID THE GOVERNMENT WOULD MONITOR THE EFFECTS OF THE LARTEST CHANGES AND REVIEW THE APPROPRIATENESS OF CERTAIN GROUPINGS IN THE U.S. MARKET WITHIN THE NEXT SIX MONTHS.
+ BUT I PERSONALLY DO NOT ENVISAGE ANY FURTHER CHANGES TO THE BASIC RULES IN THE NEAR FUTURE AS A PERIOD OF CERTAINTY FOR THE TRADE IS ESSENTIAL.
HE NOTED THAT IT WAS EASY TO DEVISE RULES WHICH PROVIDED FLEXIBILITY TO THE TRADE ON THE ONE HAND AND YET AVOIDED EXCESSIVE AND UNPRODUCTIVE SPECULATION IN QUOTAS ON THE OTHER.
+THEREFORE, IT WOULD BE STRANGE IF ALL MEMBERS OF THE TEXTILES ADVISORY BOARD (TEXTAB) SHOULD HAVE UNANIMITY OF VIEWS ON ALL ASPECTS OF THE QUOTA TRANSFER RULES, AT ALL TIME, HE SAID.
+ HOWEVER, EVEN WHEN WE SOMETIMES AGREE TO DIFFER, WE ALL, IN OUR SEPARATE WAYS, STRIVE FOR A CONCLUSION WHICH IS IN THE OVERALL INTEREST OF HONG KONG.+
MR HO PAID TRIBUTE TO TEXTAB MEMBERS AND TO THE VARIOUS INDUSTRIAL AND TRADE ASSOCIATIONS FOR THE ADVICE THEY HAD GIVEN DURING THE REVIEW.
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