TNAG-0245-FCO40-281-Exports-of-textiles-from-Hong-Kong-to-Sweden-1970 — Page 50

000 3230

G.F. 323

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CONFIDENTIAL

MEMORANDUM OF UNDERSTANDING

Enclosure 1

Introduction

This Memorandum of Understanding sets out the arrangements that

have been agreed between the Governments of Sweden and of Hong Kong

regarding the limits that the Government of Hong Kong are to apply

to exports of certain garments for importation into Sweden.

2.

In reaching agreement on these arrangements, both Governments

have had regard to the provisions of the Arrangement regarding

International Trade in Cotton Textiles, in particular to Article 3

of that Arrangement. and Article XXII (1) of the General Agreement

on Tariffs and Trade.

Coverage

3. These arrangements apply to Hong Kong's exports to Sweden of

the items listed in the Annex to this Memorandum.

Restraint Period

1971.

4. These arrangements will apply from 1st July 1970 to 30th June

During this period, the Hong Kong Government will limit

exports to Sweden of the items listed in the Annex to the levels

set out therein, save as provided for in paragraph 5.

Carryover

5. If in the periods covered by the Agreements expiring on

30th June 1970 exports from Hong Kong to Sweden are less than the

levels specified in column (e) of the Annex to the Memorandum of

4th July 1969, or those listed in column (a) of paragraph 1 of

the Director of Commerce and Industry's letter of 4th July 1969,

Hong Kong may export amounts equivalent to such short-falls during

the period covered by this Memorandum provided that such exports

/(i)

CONFIDENTIAL