TNAG-0044-FCO40-80-Exports-to-the-Benelux-countries-aide-memoires-1967 — Page 249

ANNEX

1.

The Hong Kong Government undertake to limit exports in

the Calendar Year 1966 to 1,055,000 pieces.

2.

The Hong Kong Government will further limit exports from

1st January to 30th September 1967 to 900,000 pieces, based on a

restraint level of 1,200,000 pieces for the Calendar Year 1967.

For the period 1st January to 30th September 1967 :

3.

(a)

(b)

(c)

(d)

(e)

The Hong Kong Government will initially allocate a

quota amounting to 750,000 pieces, keeping 150,000

pieces in reserve;

The liong Kong Government will send copies of export

licences, via their Brussels Office, to the Benelux

Governments on a fortnightly basis;

The Hong Kong Government will increase the overall

quota level by an amount equivalent to those consignments

which the Benelux Governments ascertain have been

diverted to third countries;

The Hong Kong Government understand that the Benelux

Governments may decide to deduct an amount equivalent

to Benelux imports from third countries from the quantity

to be thus credited to the overall quota;

If Benelux imports from third countries exceed amount

to be credited back to the overall quota, the Hong Kong

Government will deduct the balance from the reserve of

150,000 pieces. At the end of July or the beginning of

August, the Benelux Governments will inform the Hong Kong

Government of the final amount, if any, to be deducted

and the Hong Kong Government will then allocate the balance.

If the Benelux Governments inform the Hong Kong Government

that a Benelux importer, as a direct result of the restraint being

exercised on exports from Hong Kong, has been unable to maintain

the level of his purchases from his traditional supplier, the long

Kong Government will endeavour, as far as possible, to assist in

4.

overcoming such difficulties.

5.

The Hong Kong Government will consult the Benelux Governments

on any matter arising out of this undertaking.