TNAG-0157-FCO40-193-Export-of-textiles-to-Greece-1969 — Page 12

MINISTÈRE ROYAL

DES AFFAIRES ÉTRANGÈRES

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II.- The Ministry wishes to point out that the assurances

given by the Hong-Kong authorities in connection to

III.-

the Greek Government's desire to ensure that prohibited imports of textiles from other countries as of Hong-Kong origin, have been noted with satisfaction.

Furthermore, it should be pointed out that these general restrictions have been put into effect in order to ensure the least possible security to the Greek industry which has proceeded to considerable investments to renew its equipment and to avoid the desorganisation threatening the Greek market by the offer of Greek products by other countries, as the same products are produced at a very low cost in Greece.

Attention should also be drawn to the fact that, though the international cotton agreement aims at eliminating restri- ctions imposed on the cotton trade, and at assisting developing countries to promote the specialization of their production and of their exports, many developed countries apply restri- ctions on their imports in the effort to avoid the desorganiza- tion of their cotton market.

In view of the above, modification of the measures taken by Greece, which let be noted, are within the meaning of the Article XVIII of GATT, depend on the prevailing conditions of the International Cotton Market and at the same time on the slackening of the far wider restrictions which are imposed by other industrially advanced countries on cotton products.

The Royal Ministry for Foreign Affairs avail themselves of this opportunity to renew to Her Britannic Majesty's Embassy the assurances of their highest consideration.

Athens, May 30, 1969