XN000022-1984-11-16 — Page 5

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FRIDAY, NOVEMBER 16, 1984

'BUSINESS CONFIDENCE BOOSTED'

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BUSINESS CONFIDENCE HAS BEEN GIVEN AN ADDED BOOST BY THE PUBLICATION OF THE DRAFT SINO-BRITISH AGREEMENT ON THE FUTURE OF HONG KONG, THE SECRETARY FOR TRADE AND INDUSTRY, MR E. P. HO, STATED TODAY (FRIDAY).

+THERE IS NO LONGER ANY REASON TO HESITATE IN INVESTING W FURTHER GROWTH IN THE BUSINESS, + HE SAID.

MR HO WAS SPEAKING AT THE INAUGURATION OF THE HONG KONG ASSOCIATION OF TEXTILE BLEACHERS, DYERS, PRINTERS AND FINISHERS.

THE BLEACHING, DYEING, PRINTING AND FINISHING INDUSTRY IS AN IMPORTANT LINKAGE SECTOR IN THE TEXTILES AND CLOTHING INDUSTRIES. AT THE END OF LAST YEAR, THERE WERE 755 ESTABLISHMENTS IN THE INDUSTRY EMPLOYING OVER 19 000 WORKERS.

ITS ROLE IN SUPPLYING QUALITY FABRICS IS PARTICULARLY IMPORTANT IN THE UPGRADING AND DIVERSIFICATION OF THE LOCAL TEXTILES AND GARMENT INDUSTRIES.

THE BLEACHING AND DYEING INDUSTRY SUFFERED A DOWNTURN IN ELSINESS DURING THE RECENT GLOBAL RECESSION. THIS COUPLED WITH THE NEW COUNTRY-OF-ORIGIN RULES RECENTLY IMPOSED BY THE U.S. GOVERNMENT ON IMPORTS OF TEXTILES ALSO ADDED TO THE WORRIES OF THE INDUSTRY.

HOWEVER, MR HO SAID: +THE HONG KONG GOVERNMENT WILL CONTINUE TO NEGOTIATE WITH THE U.S. GOVERNMENT WITH A VIEW TO RESOLVING THIS ISSUE,+

U.S. HOLD-UPS RAISED WITH TSB ****

THE TEXTILES SURVEILLANCE BODY (TSB) IN GENEVA HAS BEEN ASKED BY THE TRADE DEPARTMENT IN HONG KONG TO CONSIDER A REFEPRAL OF THREE CASES OF SHIPMENTS OF HONG KONG-MADE SWEATERS HELD UP BY U.S. CUSTOMS.

ANNOUNCING THIS TODAY (FRIDAY), A SPOKESMAN FOR THE JEPARTMENT SAID THAT THE TSB WAS EXPECTED TO CONSIDER THE CASES IN DECEMBER.

THE DIRECTOR OF TRADE MR HAMISH MACLEOD, WILL LEAD ON KONG'S DELEGATION TO THE TALKS.

THE SHIPMENTS WERE REFUSED ENTRY TO THE UNITED STATES NR THE NEW COUNTRY OF ORIGIN RULES DESPITE THE FACT THAT THEY WERE PROPERLY LICENSED UNDER THE BILATERA. AGREEMENT.

/DURING TWO