XN000022-1974-05-17 — Page 8

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FRIDAY, MAY 17, 1974.

LIMITED RELAXATION IN EXPORT CONTROLS ON PLASTICS

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A LIMITED RELAXATION OF CONTROLS RESTRICTING EXPORTS OF POLYETHYLENE FROM HONG KONG WAS ANNOUNCED TODAY (FRIDAY) BY THE COMMERCE AND INDUSTRY DEPARTMENT.

SINCE THE CONTROLS HERE IMPOSED EARLIER THIS YEAR ONLY COMPANIES WHICH WERE ALLOCATED QUOTA BY THE DEPARTMENT HAVE BEEN ABLE TO OBTAIN LICENCES TO EXPORT LOU DENSITY AND HIGH DENSITY POLYETHYLENE, WHICH IS USED EXTENSIVELY IN THE LOCAL PLASTICS INDUSTRY.

IT AS NOW BEEN DECIDED, AFTER CONSULTING TRADE AND INDUSTRY REPRESENTATIVES, TO ALLOW COMPANIES WHICH HAVE NOT BEEN ALLOCATED QUUTA TO APPLY FOR EXPORT LICENCES.

EXPERT LICENCE APPLICATIONS WILL BE ACCEPTED AT THE COMMERCE AND INDUSTRY DEPARTMENT'S OFFICES AT 46 CONNAUGHT ROAD CENTRAL FROM 8.39 A... ON HONDAY (MAY 20) TO 5 P.M. ON FRIDAY (MAY24).

LICENCES WILL BE ISSUED TO ALLOW NON-QUOTA HOLDERS TO EXPORT DURING 1. Y AND JUNE UP T1,500,000 LBS OF LOU DENSITY POLYETHYLENE LED AW 10 OF 300,000 LBS OF HIGH DENSITY POLYETHYLENS. THE LICENCE: VILI. DE VALID FIR 28 DAYS FROM THE DATE OF ISSUE.

AP: 10.10:13 FO

LI ENCES TILL E APPROVED, IF NECESSARY, ON A PROPU. TO. NE ASI. AG IST THE TOTAL QUMSITIES WAILABLE FOR EXPORT.

A CIRCULAR HAS BEEN ISSUED TO THE TRADE TO GIVE DETAILED INFORMATION. FURTHER ADVICE CAN DE OBTAINED BY CONTACTING

MR. H.T.V. LAU, ASSISTALL TRADE OFFICER (TEL: 5-235846) OR MR. T.H. YIM, INDUSTRY ASSISTANT (TEL: 5-228449).

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