TNAG-0628-FCO40-776-Effect-of-GATT-Multi-Fibre-Arrangement-on-Hong-Kong-negotiat-1977 — Page 104

·

3.

II. Cumulative market disruption

The Working Party studied in greater detail certain aspects of the guidelines and working hypotheses envisaged during recent meetings, as summarized in S/921/77 (COMER 184).

The principal aspects of the discussions may be

summarized as follows:

A. Determination of an internal global ceiling for cotton

yarn

The Working Party agreed that an internal global quota should be determined for this product, with "strict" stabilization for 1978/1979, on the

understanding that the internal global quotas for the following years would be determined, when the time came, in the light of actual developments in the consumption of this product.

B. Allocation of internal global quotas between the

various supplier countries

The Working Party received a new set of notes drawn up by the Commission departments; it was observed that these new notes contained a specific allocation

for each low-cost supplier country whose share of the market was over 0.4% in 1976 (over 0.3% in the case

of woven fabrics of synthetic fibres).

S/1114 e/77 (COMER 215) ain/PB/hmcg

.../...