TNAG-0162-FCO40-198-Export-of-textiles-to-Norway-and-Sweden-1969 — Page 185

MEMORANDUM OF UNDERSTANDING

Enclosure 1

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This Memorandum sets out the arrangements that have been agreed between the Governments of Norway and of Hong Kong regarding the limits that the Government of Hong Kong are to apply to exports of certain cotton garments for importation into Norway. It replaces and supersedes that signed at Hong Kong on 4th July, 1967.

2.

In reaching agreement on these arrangements, both Governments have had regard to the provisions of the Arrangement regarding International Trade in Cotton Textiles and in particular to Article 4 of that Arrangement.

Coverage

3.

2) the

These arrangements apply to Hong Kong's exports to Norway of the cotton garments listed in the Annex to this Memorandum.

Restraint period

4.

These arrangements will apply from 1st October 1968 to 30th September, 1970.

Restraint limits

5.

From 1st October 1968 to 30th September 1969 being the first period under these arrangements, the Hong Kong Government will limit exports to the levels set out in column (c) of the Annex, save as provided for in paragraph 8.

6.

The Government of Norway will not admit imports of the cotton garments of Hong Kong origin listed in the Annex unless such imports are covered by a Hong Kong export licence endorsed by the Commerce and Industry Department, Hong Kong, that the consignments concerned have been debited to the agreed levels.

Growth

7.

From 1st October 1969 to 30th September, 1970 being the second period of these arrangements, the Hong Kong Government will limit exports to the category levels listed in the Annex, increased by 4%, save as provided for in paragraphs 8 and 9.

Swing

8.

During each period, exports may exceed the limits for any category by not more than 10%, provided that corresponding reductions are applied in other categories. For the purpose of calculating such corresponding reductions, the conversion factors listed in - column (a) of the Annex shall apply.

Carryover

9.

If, in the first period, exports from Hong Kong to Norway are less than the category levels, Hong Kong may export amounts equivalent to such short-falls in the second period provided that such exports -

(i)

are in the categories where the shortfalls occurred;

(ii) do not exceed 10% of the levels in column (c) of

the Annex.

/Re-exports