TNAG-0154-FCO40-190-Exports-of-cotton-textiles-to-Canada-1970 — Page 13

COT/109/Add.2 Page 2

MEMORANDUM OF UNDERSTANDING

1. This Memorandum sets out the arrangements which have been agreed between the Governments of Canada and Hong Kong regarding the limits to be applied by the Government of Hong Kong to exports of certain cotton fabrics, cotton apparel, and cotton towels to Canada.

2. In respect of cotton fabrics, the Governments of Canada and Hong Kong agree

that:

3.

that:

(a) these arrangements are made having regard to the provisions of the Arrangement Regarding International Trade in Cotton Textiles;

(b)

these arrangements relate to the period 1 October 1969 to 30 September 1970;

(c) these arrangements relate to the products listed in Annex A which shall

form an integral part of this Memorandum of Understanding;

(a)

during the twelve-month period, the group limit and the specific limit may be increased by not more than 5 per cent, with equivalent reductions in the corresponding limits for the succeeding twelve-month period if the agreement should continue after 30 September 1970;

(e) during the twelve-month period, the group limit prescribed by this

Memorandum may be exceeded by an amount equal to the quantity by which shipments in the twelve-month period ending 30 September 1969 have fallen short of the group limit set out in Annex B to the Memorandum of Understanding signed between the Governments of Canada and Hong Kong on 10 November 1966, or by 5 per cent of that group limit, whichever is the less.

In respect of cotton apparel, the Governments of Canada and Hong Kong agree

these arrangements are made under Article 3 of the Arrangement Regarding International Trade in Cotton Textiles;

(a)

(0)

these arrangements relate to the period 1 Uctober 1969 to 30 September 1970;

(c)

these arrangements relate to the products listed in annex B which shall form an integral part of this Memorandum of Understanding;