TNAG-0142-FCO40-178-Long-term-policy-on-International-trade-in-textiles-1969 — Page 124

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نذ

CONFIDENTIAL

ANNEX

INTERNATIONAL TRADE IN TEXTILES:

HONG KONG INTERESTS AS EXPLAINED BY THE HONG

KONG AUTHORITIES

In the field of trade there is no question of greater

importance to Hong Kong than the future international

regulation of trade in textiles. Of total domestic exports worth £577 million in 1968, exports of textiles (including garments) were worth nearly £277 million or 48%. Any drastic

curtailment of the textile trade would thus have disastrous

economic, social and therefore political effects in the Colony.

The risks are high if the United Kingdom 'were to pursue an

international textile policy which might have these effects in

Hong Kong.

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The UK's interests and policies are primarily those of an

importing country, whereas the position of Hong Kong is entirely

that of an exporting country. It is the view of the Hong Kong Government that for this reason the policy proposals in PC(69)

18 do not adequately reflect Hong Kong's interests and could

be damaging to the Colony's trade'.

3. The United Kingdom interests are seen to lie in securing international agreement to abolish quantitative restrictions on

trade in textiles except in certain strictly defined situations

and to rely on the tariff for the protection of its domestic

industry. The objectives outlined in the paper are therefore: (1) The temporary · extension of the Long Term Arrangement an

Cotton Textiles (L.T.A.) in a move liberal form, in the

hope that international agreement can be mobilised to

dispense with it altogether;

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