XN000022-1991-05-11 — Page 2

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SATURDAY, MAY 11, 1991

ITCB BID TO EXTEND MFA WELCOMED

THE DECISION OF THE INTERNATIONAL TEXTILES AND CLOTHING BUREAU (ITCB) TO PROPOSE AN EXTENSION OF THE MULTIFIBRE ARRANGEMENT (MFA) WAS WELCOMED BY MR T.H. CHOW, DIRECTOR-GENERAL OF TRADE.

A COMMUNIQUE ISSUED BY THE ITCB AT THE END OF ITS WEEK-LONG MEETING IN BALI, INDONESIA, STATED THAT THE BUREAU PROPOSES AN EXTENSION OF THE MFA FOR 17 MONTHS FROM 1 AUGUST 1991 TO 31 DRCEMBER 1992. IT ALSO PROVIDES FOR AN EXTENSION OF EXISTING BILATERAL AGREEMENTS ON THE SAME OR BETTER TERMS FOR EXPORTERS.

"THE PROPOSAL SEEKS TO SECURE CERTAINTY, STABILITY AND PREDICTABILITY FOR OUR TRADERS. IT IS NECESSARY BECAUSE NEGOTIATIONS ON A NEW MULTILATERAL TEXTILES AGREEMENT UNDER THE URUGUAY ROUND HAVE NOT BEEN COMPLETED. THE NEW ARRANGEMENT SHOULD BRIDGE THE GAP BETWEEN THE EXPIRY OF THE MPA THIS

AND THE INTRODUCTION OF ANY NEW

SAJD MR CHAU WHO AGREEMENT MADE IN THE URUGUAY ROUND,

LED THE HONG KONG DELEGATION TO THE BALI MEETING.

JULY

"THE ITCB PROPOSAL IS A CONSTRUCTIVE

RESPONSR TO SUGGESTIONS BY THE IMPORTING COUNTRIES TO EXTEND THE MFA. AN EARLY AGREEMENT AMONG IMPORTING AND EXPORTING COUNTRIES WILL BE IN EVERYONE'S INTEREST, MR CHOW ADDED.

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THE ITCB PROPOSAL WILL BE FORMALLY SUBMITTED FOR CONSIDERATION BY ALL MFA SIGNATORIES AT A MEETING TO BE HELD ON 16 MAY IN GENEVA.

THE BALI MEETING ALSO REVIEWED THE STATE OF THE TEXTILES TO WORK NEGOTIATIONS IN THE URUGUAY ROUND AND URGED ALL PARTICIPANTS TOWARDS THE EARLY COMPLETION OF THE TALKS.

THE GENEVA-BASED ITCB COMPRISES 22 MAJOR TEXTILES-EXPORTING DEVELOPING COUNTRIES AND TERRITORIES INCLUDING HONG KONG AND HAS PLAYING A KEY ROLE IN THE URUGUAY ROUND TALKS ON TEXTILES.

BREN

NOTE TO EDITORS:

FAX THE ITCR COMMUNIQUE WILL BE ISSUED THROUGH

MANAGER LATER

TODAY.

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