XN000022-1994-03-18 — Page 5

3

FRIDAY, MARCH 18, 1994

OR AGREEMENT GIVES ENOUGH TIME

FOR HK INDUSTRY TO ADAPT

* * * * *

ARRANGEMENT

GIVES

THE GRADUAL 10-YEAR PHASING-OUT OF THE MULTI-FIBRE (MFA) PROVIDED BY URUGUAY ROUND TEXTILES AND CLOTHING AGREEMENT SUFFICIENT TIME FOR HONG KONG INDUSTRY AND LABOUR FORCE TO RESTRUCTURE AND ADAPT TO THE NEW ENVIRONMENT.

AT

THE DIRECTOR-GENERAL OF TRADE, MR TONY MILLER, MADE THE THE SPRING DINNER OF THE HONG KONG WOOLLEN AND SYNTHETIC

ASSOCIATION AND

KNITWEAR MANUFACTURERS'

HONG KONG MANUFACTURERS' ASSOCIATION TONIGHT (FRIDAY)

REMARK KNITTING

AND

EXPORTERS'

TEXTILES SOON

MR MILLER SAID PROTECTIONISM APPEARING IN THE FORM OF QUOTA IMPOSED UPON HONG KONG BY THE ABSURDITIES OF THE MFA WOULD BE A PROBLEM OF THE PAST.

"THE URUGUAY TEXTILES AND CLOTHING AGREEMENT PROVIDES A 10-YEAR TRANSITIONAL PERIOD DURING WHICH SOME 51 PER CENT PRODUCTS PROGRESSIVELY LIBERALISED.

WILL BR

"GROWTH RATES OF

REMAINING UNDER QUOTA LIMITS ON PRODUCTS

ALL RESTRAINTS GRADUALLY BE INCREASED WITH

REMOVED RESTRAINT WILL

HE SAID. AFTER 10 YEARS PROVIDING EVENTUALLY FOR GENUINE COMPETITION,

"

MR

SAID HONG

WOULD MILLER

KONG ENTREPRENEURS COMPETITION AND HE WAS CONFIDENT THAT THEY WOULD TAKE FULL OF THE CHALLENGE AHEAD.

THE

COMMENTING ON KNITWEAR INDUSTRY AND ALSO INDUSTRIES IN GENERAL, DIRECTOR-GENERAI. SAID AN IMPORTANT FACTOR OF THEIR SUCCESSES

HUMAN ELEMENT.

WAS

STRIVE

ON

ADVANTAGE

"HONG

INNOVATIVE,

KONG ENTREPRENEURS ARE THE MOST VERSATILE, IMAGINATIVE, COMMITTED, DILIGENT AND PERSEVERING GROUP OF PEOPLE TO BE

FOUND.

"DESPITE

THE

EVER-EMERGING

PROBLEMS

ARISE

FROM SOLUTIONS,

THE

++

THAT CHANGING ENVIRONMENT, THEY HAVE ALWAYS BEEN ABLE TO FIND HE SAID.

COTTAGE AND

THE KNITWEAR INDUSTRY STARTED OFF IN THE EARLY 60'S AS TYPE OPERATIONS. EACH ESTABLISHMENT WAS VERY PRIMITIVELY EQUIPPED EMPLOYED ONLY A HANDFUL OF WORKERS.

MANY

PRODUCTION

IN THESE INTERVENING YEARS LOCAL MANUFACTURERS HAVE FACED OBSTACLES, BUT MR MILLER SAID THE ENTREPRENEURS HAD MET THEM HEAD ON

INVESTING IN THEIR IMPROVING

PRODUCTS, TECHNOLOGY AND IN MAKING USE OF LOWER LABOUR COSTS ACROSS THE BORDER FOR MORE LABOUR INTENSIVE MANUFACTURING OPERATIONS.

BY

ACTIVELY

"THIS HAS HELPED TO KEEP PRODUCTION COSTS DOWN ON THE ONE

HE SAID. WHILE IMPROVING THE QUALITY OF THE PRODUCTS ON THE OTHER,

HAND

HOWEVER, MR MILLER SAID: "WE MUST NOT REMAIN COMPLACENT.'

·

PRESSURE FROM

AND

THE INDUSTRY CONTINUES TO REMAIN UNDER EXTREME COMPETITION PARTICULARLY FROM NEIGHBOURING COUNTRIES THE EVER THREAT OF PROTECTIONISM, HE SAID.

TOUGH

FROM

/MR MILLER