XN000022-1994-04-19 — Page 10

TUESDAY, APRIL 17,

THE PHASE-OUT то ENSURE “WE WILL. BE LOOKING FOR WAYS WITHIN THE ADJUSTMENT FOR HONG KONG'S INDUSTRY IS AS SMOOTH AS POSSIBLE.

IN

SOME IMPORTING COUNTRIES, RATHER HOWEVER, HE CAUTIONED THAT THAN RISING TO THE CHALLENGE OF COMPETITION, WOULD SEEK PROTECTION

USE THE FOR EXAMPLE,

ANTI-DUMPING AND SAFEGUARD OTHER FORMS ACTIONS.

ANTI-DUMPING BUT, HE SAID

OF

CASES WERE COSTLY AND ACTION WAS CAREFULLY CIRCUMSCRIBED IN THE UR PACKAGE.

"THE

INCREASINGLY

SAFEGUARD

GLOBAL

NATURE ENCOURAGE

OF

COMPETITION

TEXTILES AND CLOTHING AND MAKE SUCH

PRODUCTION PROCESSES SHOULD PROTECTION MORE DIFFICULT TO SUSTAIN," HE SAID.

IMPLICATIONS,

MR MILLER

SAID: "THE NEED FOR LONGER NECESSARY AND

REGARDING THE PRACTICAL RETURN OF TEXTILES AND CLOTHING TO GATT RULES WILL MAKE THE REGULAR RE-NEGOTIATION OF TEXTILE BILATERAL NO SHOULD BRING MORE CERTAINTY TO THE TRADE,

MR MILLER NOTED UNDER THE AGREEMENT, INCONSISTENT OF THE GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT) WOULD OUT OVER 10 YEARS.

"THIS PHASING OUT PERIOD IS DESIGNED TO THE TRADE AND AVOID ABRUPT CHANGES.

RESTRICTIONS

BE PHASED

PROVIDE CERTAINTY TO

"IT IS DESIGNED ADJUST, RECOGNISING THAT OVER ENORMOUS DISTORTIONS IN BOTH NOTED.

ΤΟ

ALLOW BOTH

TIME THE TRADE AND

IMPORTERS AND

EXPORTERS

то

RESTRAINTS HAVE INTRODUCED INVESTMENT

WORLD-WIDE,"

HE

HE SAID

THERE

WERE

TWO

ELEMENTS

TO THE

PHASE-OUT

-

THE GROWTH

GRADUAL RE-INTEGRATION BY PRODUCTS AND PROGRESSIVE INCREASE IN RATES.

DIVIDED INTO THREE STAGES OF THE 10 YEAR-PHASE OUT WILL BE THREE, FOUR AND THREE YEARS RESPECTIVELY, HE SAID.

GATT, EACH IMPORTING COUNTRY IS REQUIRED TO INTEGRATE INTO THE

CENT OF VOLUME OF IMPORTS THAT IS, COMPLETELY DE-RESTRAIN, 16 PER

BEFORE FIRST DAY COVERED BY UR TEXTILE AND CLOTHING AGREEMENT ON OR

THREE YEARS, ANOTHER OF IMPLEMENTATION, A FURTHER 17 PER CENT AFTER

FINALLY AT END OF 10-YEAR 18 PER CENT AFTER FOUR MORE YEARS,

('ENT WILL BE AUTOMATICALLY PHASE-OUT PERIOD, THE REMAINING 49 DE-RESTRAINED AND MADE SUBJECT TO NORMAL GATT RULES,

HE

SAID

AND

PER

THE

REQUIREMENT

WAS

ΤΟ

APPLY AND 27 START OF EACH OF THE

AS FOR GROWTH RATE, GROWTH RATES ACCORDING TO FACTORS OF 16 PER CENT, 25 PER CENT PER CENT TO EXISTING RESTRAINT LEVELS AT THE THREE STAGES.

"THE EFFECT OF THIS LATTER INCREASE IN PROGRESSIVELY TO EXPAND QUOTA LIMITS SO THAT MEANINGLESS, HE NOTED.

H

GROWTH RATES WILL BE THEY EVENTUALLY BECOME

/IMPORTING COUNTRIES

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