TNAG-0246-FCO40-282-Imports-of-textiles-from-Hong-Kong-to-UK-1970 — Page 61

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C.F. 313

CONFIDENTIAL

CR 8/3682/65 III

9/3

OF.

MEMORANDUM FOR THE COTTON ADVISORY BOARD

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CAB/300

4/30

Hong Kong's Exports of Cotton Textiles to the United Kingdom

1966-1970

Heads of Agreement

A.

QUOTA

Hong Kong's exports during the period shall be restrained under a separate country quota for Hong Kong to be administered by export Licensing in Hong Kong with matching licences issued automatically by the Board of Trade to British importers against copies of Hong Kong export licences/

Note

The Board of Trade have undertaken to see whether the dual licensing system need be continued in respect of Hong Kong's exports immediately after the proposed meeting of the Cotton Textiles Committee in Geneva.

B. LEVEL

The overall level of Hong Kong's country quota for 1966 will be 185 million square yards for products restrained under the 1963-5 Undertaking.

2.

There will in addition be extra yardage for newly restrained

Hong products based as far as practicable on the annual average of Kong's exports of these items for the three years 1962-1964..

The level for yarns will be 6.3 million pounds.

3.

C.

GROWTH

There will be a growth factor of 1% per annum to apply in 1967 and in each succeeding year to the previous year's overall level

and to each of the group and category levels.

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Note

Should the growth of domestic consumption of cotton goods increase markedly in excess of the expected rate, the Board of Trade undertake to consider the possibility of allowing increased growth to all restricted suppliers.

:

D.

GROUPS

Within the overall yardage the following separate group levels will apply :

(i)

Made-ups and Garments :

85 million square yards

→

(ii) Finished Piecegoods

30 million square yards

There will be no group level for loomstate piecegoods.

2.

Yardage may be transferred from the made-ups and garments group into either the finished piecegoods groups or the loonstate

/group without

CONFIDENTIAL

C