+
FRIDAY, DECEMBER 10,
1993
ON MAINTAINING
ON
HE ADDED THAT STATEMENTS BY CHINESE OFFICIALS THE ECONOMIC WELL-BEING OF HONG KONG DESPITE RECENT CONTROVERSIES THE POLITICAL FRONT WERE REASSURING.
HONG KONG.
"WE CONSIDER THAT THE INCREASED LINKS BETWEEN THE ECONOMIES
FACTOR TO HONG KONG AND CHINA SHOULD BE VIEWED AS A POSITIVE
OF
ON
"IN
WE
HOPE THAT
RATINGS CONTINUOUS
THE
ANY EVENT, MOODY'S WILL CONTINUOUSLY REVIEW THEIR
THROUGH HONG KONG AND ISSUERS HERE. DIALOGUE WITH THEM, THEY COULD COME TO A BETTER UNDERSTANDING OF SITUATION HERE, HE SAID.
14
STI WELCOMES RENEWAL OF MULTI-FIBRE ARRANGEMENT
* *
THE
THE NEWS
SECRETARY FOR TRADE AND INDUSTRY, MR CHAU TAK-HAY, WELCOMED THE GENERAL TODAY (FRIDAY) THAT THE TEXTILES COMMITTEE OF AGREEMENT
RENEWAL OF THE TARIFFS AND TRADE (GATT) HAD AGREED A ON MULTI-FIBRE ARRANGEMENT (MFA) BY ONE YEAR TO DECEMBER 31 NEXT YEAR.
HONG
TRADE. "THIS IS GOOD NEWS FOR OUR TEXTILES AND GARMENT KONG'S BILATERAL TEXTILES AGREEMENTS WITH OUR MAIN MARKETS ARE COVERED
TRADE, BY THE MFA. ITS EXTENSION GIVES ADDED CERTAINTY TO THE SAID.
HE
THE MFA IS A
MULTILATERAL
INSTRUMENT GOVERNING
TRADE
IN
TEXTILES AND CLOTHING AMONG SOME 44 TERRITORIES.
PARTICIPATING COUNTRIES
AND
IT
ENTERED FIRST
INTO EFFECT IN 1974 AND HAS
BEEN RENEWED
SEVERAL TIMES, MOST RECENTLY UPON ITS EXPIRY ON DECEMBER 31 LAST YEAR.
UNDER
AND DURING
UNDER THE URUGUAY ROUND OF MULTILATERAL TRADE TALKS NOW
IN TRADE
TEXTILES WAY, THERE IS A DRAFT PROVISION TO RETURN CLOTHING TO GATT RULES AND DISCIPLINES OVER A 10-YEAR PERIOD, WHICH PERIOD QUOTAS WOULD BE GRADUALLY PHASED OUT.
IMPLEMENTATION
OF THE URUGUAY ROUND RESULTS IS, EXPECTED TO BEGIN BEFORE JANUARY 1, 1995.
HOWEVER, NOT
19