XN000022-1993-12-16 — Page 4

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THURSDAY, DECEMBER 16, 1993

ONE OF THE MOST IMPORTANT ELEMENTS FOR HONG KONG IN THE PACKAGE IS THE PHASING-OUT OF TEXTILES AND CLOTHING QUOTAS OVER 10 YEARS.

"THE AGREEMENT PROVIDES THE TEXTILES TRADE WITH A REASONABLE DEGREE OF CERTAINTY OVER THE NEXT 10 YEARS OR

so." SAID MR MILLER. "QUOTA GROWTH RATES WILL INCREASE SLIGHTLY, AND THE PHASE-OUT OF RESTRAINTS WILL BE GRADUAL. GIVEN THE ADAPTABILITY OF OUR INDUSTRY I HAVE NO DOUBT THAT THEY WILL MAKE THIS AN OPPORTUNITY AND NOT A THREAT.**

THE MOST EASILY QUANTIFIABLE BENEFITS HAVE BEEN ACHIEVED IN MARKET ACCESS TALKS ON TARIFF REDUCTIONS AND REMOVAL OF NON-TARIFF BARRIERS.

MR MILLER SAID HONG KONG HAD AGREED TO BIND AT ZERO TARIFF WIDE RANGE OF ITEMS COVERING ABOUT 29 PER CENT OF HONG KONG'S IMPORTS.

IN RETURN, CONCESSIONS WERE MADE BY HONG KONG'S PRINCIPAL TRADING PARTNERS EQUIVALENT TO TARIFF SAVINGS OF OVER US$420 MILLION A YEAR ON IMPORTS OF HONG KONG-MADE PRODUCTS.

"GIVEN THE SIZE OF OUR RE-EXPORT TRADE. THE ACTUAL BENEFITS ACCRUING TO HONG KONG BUSINESS WILL IN FACT BE MUCH MORE THAN THAT, " MR MILLER ADDED.

HE CONCLUDED BY SAYING THAT HE WAS VERY SATISFIED WITH THE OVERALL PACKAGE. "OF COURSE THERE ARE AREAS I AM NOT ENTIRELY HAPPY WITH, BUT ON THE WHOLE THIS IS A GOOD AGREEMENT REACHED IN THE FACE OF OBSTACLES THAT AT TIMES LOOKED INSUPERABLE," HE SAID.

"PERSONALLY, I AM DELIGHTED AND I BELIEVE THAT HONG KONG WILL BE MUCH BETTER OFF ONCE WE GET THIS AGREEMENT FIRMLY IN PLACE."

TRADE MINISTERS OF THE 116 COUNTRIES AND TERRITORIES THAT PARTICIPATED IN THE URUGUAY ROUND HAVE AGREED TO MEET IN MARRAKECH, MOROCCO IN APRIL 1994 TO SIGN FORMALLY THE OUTCOME OF THE NEGOTIATIONS AND TO AGREE IMPLEMENTATION ARRANGEMENTS.

THE DATE ON WHICH THE AGREEMENT IS TO COME INTO FORCE HAS YET TO BE DECIDED. JANUARY 1, 1995 OR JULY 1, 1995 ARE LIKELY DATES.

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REDUCED AIR POLLUTION IMPROVES HEALTH

OF SCHOOL CHILDREN

* * * * * *

RESULTS OF A STUDY COMMISSIONED BY THE ENVIRONMENTAL PROTECTION DEPARTMENT (EPD) ON THE EFFECTS OF AIR POLLUTION ON RESPIRATORY HEALTH OF SCHOOL CHILDREN WERE RELEASED TODAY (THURSDAY).

AND

CONDUCTED BY THE DEPARTMENT OF COMMUNITY MEDICINE OF THE UNIVERSITY OF HONG KONG, THE STUDY WAS CARRIED OUT BETWEEN 1989 1992 IN KWAI TSING AND SOUTHERN DISTRICTS WHICH HAVE DIFFERING QUALITY.

AIR

/SCHOOL CHILDREN