XN000022-1972-10-31 — Page 1

PRH 7 4000001

香港政府

GIS 新聞處

DAILY INFORMATION BULLETIN

Tuesday, October 31, 1972

DETAILS RELEASED ON TEXTILES AGREEMENT WITH BRITAIN

The Director of Commerce and Industry, Mr. D.H, Jordan, today released

details of the agreement which has been reached with the British Government

on the future of Hong Kong's exports of polyester cotton textiles to the

United Kingdom.

This followed endorsement by the Governor in Council

this morning of the arrangements which were negotiated by senior officials of

the Commerce and Industry Department, with the assistance of the Textiles

Advisory Board, in Hong Kong and London during August and September.

The agreement covers the 15 month period from October 1, 1972 to

December 31, 1973 and relates principally to exports of fabrics, made-ups and

garments of polyester/cotton blends (that is from fabrics in which polyester

and cotton are blended together in proportions where the weight of polyester

is equal to or greater than the weight of the cotton or any other fibre that might

be present in the blend). Polyester cotton yarns are not covered by the

agreement.

During the term of the agreement, the Hong Kong Government has agreed

to limit exports of polyester/cotton textiles to approximately 95 million square

yards with sub-limits on certain categories of goods to prevent undue concentration

of shipments in particular items.

/Mr. Jordan

Issued by Government Information Services, Beaconsfield House, Hong Kong. Tel: 5-233191