XN000022-1978-07-31 — Page 8

MONDAY, JULY 31, 1978

HONG KONG AFFAIRS COUNSELLOR IN GENEVA IS HERE FOR TALKS ****

MR. PETER K.Y. TSAO, COUNSELLOR FOR HONG KONG AFFAIRS IN GENEVA, IS NOW IN HONG KONG FOR CONSULTATIONS WITH THE TRADE, INDUSTRY AND CUSTOMS DEPARTMENT.

THE CONSULTATIONS WILL CENTRE ON THE MULTILATERAL TRADE NEGOTIATICIS, (MTN) WHICH REACHED A CRUCIAL STAGE IN MID-JULY WITH THE ISSUING EY A GROUP OF DEVELOPED COUNTRIES OF A 'FRAMEWORK CF UNDERSTANDING ON THE MAJOR ELEMENTS OF A COMPREHENSIVE TRADE PACKAGE.

MR. TSAO IS HONG KONG'S REPRESENTATIVE AT THE INTERNATIONAL TRADE TALKS FIRST LAUNCHED IN TOKYO IN SEPTEMBER 1973. THESE TALKS ARE AIMED AT LIBERALISING WORLD TRADE THROUGH TARIFF REDUCTIONS THE REMOVAL OF NON-TARIFF TRADE BARRIERS, AND IMPROVEMENT IN THE DISCIPLINE FOR TAKING PROTECTIVE MEASURES IN EXCEPTIONAL CIRCUMSTANCES.

MR. TSAO ARRIVED IN HONG KONG ON THURSDAY (JULY 27) AND WILL RETURN TO GENEVA AT THE END OF AUGUST.

TEXTILE QUOTA UTILISATION POSITION

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THE TRADE, INDUSTRY AND CUSTOMS DEPARTMENT TODAY PUBLISHED THE END-CF-JUNE 1978 FIGURES ON THE UTILISATION OF QUOTA IN RESPECT OF MARKETS TO WHICH HONG KONG'S TEXTILES EXPORTS ARE RESTRAINED.

A BRIEF OUTLINE OF THE QUOTA POSITION OF THE UNITED STATES AND EEC, HONG KONG'S TWO MAJOR TEXTILE MARKETS IS GIVEN BELOW.

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THE CURRENT 12-MONTH U.S. TEXTILE RESTRAINT PERIOD BEGAN 3. JANUARY 1, 1973. QUOTA USED IN THE FIRST SIX MONTHS AMOUNTED TC 436.20 MILLION EQUIVALENT SQ. YDS. CR 45.62 PER CENT OF THE OVERALL RESTRAINT LIMIT. FIGURES SHOWING THE QUANTITIES LICENSED FOR EXPORT AND PERCENTAGES OF UTILISATION ON A CRCUP BASIS ARE SET OUT LELO:

/QUANTITY