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W(B)L 51-7406
Textiles
4.
Mr. Goldsmith said that it was difficult
to decide policy for the next CTC until:
(1)
the outcome of the US/Japan talks was
known.
(2)
it was known how the EEC proposed to deal
with the matter.
Mr. Ernst will be asked to clarify this.
5. Mr. Jordan agreed but wondered whether we
would not be eventually obliged to hold last
minute consultations before the CTC December
meeting.
6. Mr. Jordan explained that although Hong
Kong did not want to see an extension of the LTA
to include non-cottons, if some concession had to
be made to American pressures this might be the
least dangerous solution. A separate agreement
dealing with MMF on the lines of the CTA would
open up possibility of similar agreements cover-
ing commodities other than textiles. Hong Kong
would want the unique nature of the CTA to be
preserved so far as possible and would not want
to see the GATT overtaken by a new agreement in
MMF.
The extension of the CTA would mean that
Hong Kong was forced to accept the one market
concept between cotton and non-cotton textiles
but if this had to be so they were prepared.
7. Mr. Goldsmith said that presumably the
CTA would be extended by changing the percentage
of cotton which governed the application of the
agreement and altering the substitution
8.
rules.
Mr. S. Stewart argued at length against
such an extension. He said that the effect
would be to make non-cotton quota regulations
as lax as had been cotton under the CTA.
large proportion of the UK market in non-cottons
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