following figures show.
Exports to
Limit
15 October 1969
(Sq. Yards)
11962
Balance available
to
31 December, 1969
Cat. 7
Loomstate sheeting
11,800,000
5,442,870
6,357,130
and shirting over 60" wide
Cat.12A
Finished sheeting
5,700,000
3,415,580
2,284,420
etc. over 60" wide
Cat.14
Bed linen
3,300,000
1,070,033
of which sheets
1,000,000
120,527
2,229,967
879,473
On the basis of these figures the Heads of Agreement growth
Theastere
1970 factor next year will be 1%, against the Board of Trade's offer
of 3%. At the end of 1970 the Hong Kong/UK agreement expires,
a
but as this will be an interim year between the ending of the
agreement and the beginning of the tariff the projection on the
different rates of growth can be made on the assumption that the
basic restraint levels will be continued. If Hong Kong reaches
Growth 95% of her ceiling in 1970 and can claim the 6% under the Heads
1968/69
of Agreement her ceiling will be 107.06% of the 1969 levelyn 1971. Whereas, on the 3% growth rate the ceiling will be 106.0%, i.e.
a difference of .97%.
11. Hong Kong believe that it is not a question of a concession
bring conerdad
of 3% growth being offered to Hong Kong, as HMG's Saving Despatch
^
712 put it】 In their view a concession is being sought from
one to which they have
Hong Kong and it is a concession which Hong Kong never agreed.
to, and have never given any grounde for believing that they
did
12.
are adamant to the point where, unless
Hong Kong have chosen to stand of the principle that the agreement can be watched
Heads of Agreement covered wide sheeting and sheets, and that
unless the BOT can agree it seems that Hong Kong will have to
reject paragraph 7 of the despatch.
paph
The only way the 3 could
action by
then be imposed would be by unilateral action by the Secretary
A be imposed wo wired than to
of State instructing the Governor that certain exports in
л
/ 1970
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