0003230
G.F. 323
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10 -
out of total exports valued at $5.3 milli E.E.C. totalled only $70 thousand.
Exports to the
The major part of exports to the U.K. do not enter under preference. The low level of Hong Kong's performance in the E.E.C. at present may be due to Hong Kong's inability to compete against E.E.C. industry; if this is so, performance in the U.K. may decline as a result of reverse preferences in favour of E.E.C. suppliers. On the other hand, as most Hong Kong buttons now exported to the U.K. are subject to a tariff of 30%, the introduction of the 18% C.E.T. (to be reduced to 13% as a result of the Kennedy Round) would mean tariff reductions for Hong Kong in the U.K. market.
Slide fasteners and parts thereof (899 530)
In 1961, principal markets were
U.K.
West Germany
Japan
-
$900 thousand
$420 thousand
$230 thousand
The industry
out of total exports valued at $2.2 million. estimated then that exports to the U.K. would not suffer unduly if the C.E.T. were to be introduced since exports to West Germany appeared to have little difficulty in crossing the high tariff barrier there. However, in 1965, the position had changed and
Value
Tariff
U.K.
$2.7 million
nil
Singapore
$450 thousand
nil
Thailand
$390 thousand
27.5% a.v.
$280 thousand
W. Germany
16% - 19% a.v.
were the principal markets out of total exports valued at $4.7 million. The reason for the market decline in W. Germany is not known. As the U.K. has become an even more important market for this item than in 1961, the imposition of the C.E.T. of 16% - 20% (11.5% - 14% after the Kennedy Round) could have adverse effects on the industry, of which some firms manufacture entirely for the U.K. Sales in Hong Kong are possibly worth only $1.5 million a year.
Transistor radios (724 205)
In 1961, the principal markets for this item were
U.K.
Panama
U.S.A.
$5.3 million
$2.9 million
$2.5 million
out of total exports valued at $12.7 million. In 1966, the principal markets were
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