TNAG-0387-FCO40-433-Exports-of-non-cotton-textiles-from-Hong-Kong-to-the-EEC-1973 — Page 36

Conclusion and recommendation

15.

We believe that the evidence of prospective growth of imports of polyester/cotton textiles from Thailand, Macao and Colombia is such as to warrant our securing restraint arrangements with the same effect as those already in force as regards South Korea and Taiwan. Ministers are asked to agree that

છૂ we should consult with these countries with a view

to them taking unilateral action to limit their

exports;

b

C

e

()

f

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restraints should have the same coverage and be

for the same period as those in the case of South Korea and Taiwan;

restraint levels should be based on either the

amount delivered during 1973 or 2 million square yards (whichever is lower), with a 5% annual growth rate for subsequent years;

as an inducement to Thailand and Colombia

we should offer to raise their cotton ouotas to

2 million square yards each and allow limited transfers between the quotas;

if any of the countries are not prepared to

introduce export restraint measures we should act

unilaterally to restrict imports.

we should be authorised to consult with/restrain

any other 'low-cost' supplier where import licence applications reach the million square yards7

level

we should go slow' on the issue of import licences.

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