TUESDAY, NOVEMBER 3, 1992
THE
HK/EEC TEXTILES AGREEMENT GETS EXTENSION
**
TRADE DEPARTMENT ANNOUNCED THAT INITIALLED TODAY (TUESDAY) FOR AN EXTENSION OF TEXTILES AGREEMENT LARGELY ON EXISTING TERMS.
AN AGREEMENT WAS THE HONG KONG/EEC
THIS FOLLOWS CONSULTATIONS WITH THE COMMISSION OF THE EUROPEAN COMMUNITIES IN BRUSSELS LAST WEEK.
THE CURRENT AGREEMENT, WHICH EXPIRES ON DECEMBER 31 THIS YEAR, WILL BE EXTENDED FOR TWO YEARS UNTIL DECEMBER 31, 1994.
SUBJECT TO ADVANCE CONTRARY NOTIFICATION BY EITHER PARTY, IT MAY BE EXTENDED FOR ONE MORE YEAR UP TO DECEMBER 31, 1995.
THE AGREEMENT WILL BE AUTOMATICALLY IMPLEMENTATION OF THE RESULTS FOR THE URUGUAY ROUND.
TERMINATED UPON
IN LINE WITH ITS COMMITMENT TO A SINGLE MARKET COMMISSION WILL BE ABOLISHING ITS LONG-STANDING PRACTICE COMMUNITY QUOTA LIMITS DOWN INTO REGIONAL LIMITS.
IN 1993, THE OF BREAKING
OF PRODUCTS J
THE TWO PARTIES ALSO AGREED THAT FIVE CATEGORIES CURRENTLY SUBJECT TO RESTRAINT AT REGIONAL LEVEL, WOULD BE DERESTRAINED AND TWO SUBLIMITS APPLICABLE AT REGIONAL LEVEL WOULD BE REMOVED.
FROM BRUSSELS, LEADER OF THE
COMMENTING ON THE OUTCOME OF THE CONSULTATIONS DEPUTY DIRECTOR-GENERAL OF TRADE AND
THE
HONG
KONG DELEGATION, MR ALAN LAI, SAID: "IT HAS BEEN A VERY DIFFICULT NEGOTIATION GIVEN THAT THE COMMISSION HAD A TIGHT MANDATE, AND THAT SOME MEMBERS STATES HAVE BEEN UNDER SEVERE DOMESTIC PRESSURE BECAUSE OF THE DIFFICULTIES FACED BY THEIR DOMESTIC TEXTILE INDUSTRIES.
"IN LINE WITH THE INTERNATIONAL TEXTILES AND CLOTHING (ITCB) POSITION, WE HAVE SOUGHT IMPROVEMENTS IN MARKET ACCESS.
"THE COMMISSION WAS HOWEVER MOST RELUCTANT TO MEET HONO REQUEST. NEVERTHELESS, WE MANAGED TO SECURE SOME IMPROVEMENTS USE OF THE FLEXIBILITY PROVISIONS FOR THE NEXT THREE YEARS.
BUREAU
KONG'S THE
IN
"ON BALANCE, THE NEW AGREEMENT SHOULD PROVIDE OPPORTUNITIES INCREASE HONG KONG'S OVERALL ACCESS TO THE COMMUNITY IN THE COME.
H
ΤΟ
YEARS TO
"THE CONCLUSION OF AN AGREEMENT MEANS THAT THE TRADE CAN NOW PLAN AHEAD FOR 1993 WITH CERTAINTY, HE ADDED.
DETAILS OF THE ADMINISTRATIVE ARRANGEMENT WILL BE NOTIFIED THE TRADE IN DUE COURSE.
TO
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