XN000022-1973-11-28 — Page 8

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Wednesday, November 28, 1973

He added: "The qualities of initiative, energy and willingness

to learn so characteristic of our commerce and industry and the stimulation

of competition in a free trade environment have been responsible for the

most dramatic and sustained industrial and export growth seen anywhere

in the world during the last two decades."

During this time, Mr. Jordan said, our domestic exports have

increased from under $500 million in 1952 to over $15,000 million in 1972.

This growth had continued in the present year, despite various difficulties.

On commercial relations, he said the principal concern had been

with restrictions on trade in textiles and garments and with the various

generalised preference schemes established by many of the developed countries.

"In some cases we have had to accept new restrictions but in

others we have been able to persuade our trading partners that the restrictions

should be relaxed," he added.

lir. Jordan said that Hong Kong has taken an active part in the

GATT textile negotiations which are intended to produce by the end of

this year a new international arrangement on trade in textiles of all fibres

cotton, wool and man-made.

"Our principal concern in this is to try and ensure that the new

arrangement lays down more stringent conditions for restrictions than

are applied under the existing Cotton Textiles Arrangement," he said.

Announcing that he would be leaving for London this evening on

his way to Geneva for the final round of the GATT textile negotiations,

Mr. Jordan said that he would be seeing British Government officials to

continue the dialogue on EEC preferences and textiles policy.

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/Mr. Jordan ******