TNAG-0384-FCO40-430-Trade-relations-between-Hong-Kong-and-the-EEC-1973 — Page 110

Paragraphs 6 and 7 refer

NOTES

Annex

a. The total of the existing national quotas (ie the effective quota limits in operation) of all member states for 1973 should be apportioned between member states in proportion to population, GNP, external trade. The amounted apportioned to a member state becomes the "basis quota" ('economic share') for that member state in 1973.

b. The "basic quota" for each member state is increased by 5 per cent per annum; except as may otherwise be provided for exceptional circumstances. The "basic quotd' for 1974 is thus the the "basic quota" for 1973 plus 5 per cent.

c.

The actual quota (ie the existing national quota for 1973) should be brought by equal annual stages from 1974 into line with the "basic quota" by the end of the transitional period.

d.

The resulting quotas for any one year in the transitional period (from 1 January 1974) should be available either for direct imports or for imports or for imports via another member state (the quota for the final importing state to be 'credited' with the import in the latter case).

e.

After the end of the transitional period the Community time to combine the basic national quotas into a single Community quota without national apportionment.