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as the MIA itself are due to expire this year
our bilateral
agreement with the USA will expire at the end of September; our
bilateral agreement with the EEC, and also the MFA itself, at the
end of 1977.
5. The whole of Hong Kong's textiles and clothing industry is
seriously concerned about developments in all three areas but the
purpose of our visit here is mainly to express our concern at the
policies which are reportedly being pursued by the EEC and by the
UK Government in respect of the future of the MFA and, in
consequence, the terms of a new bilateral agreement between Hong
Kong and the EEC.
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:
6. As far as the UK is concerned, I an sure you will erree that
the Hong Kong industry has always recognised the difficulties of
its UK counterpart. Indeed since 1959 when our exports of cotton
textiles to the UI were first put under restraint on an industry
to industry basis, Hong Kong has conceded more to the UK than it
has to any other importing country. I need not remind you that
where cotton textiles were concerned, since 1959 the annual growth
rates on restraint limits was only 19 until 1972 when polyester/
cotton textiles were also placed under restraint and the annual
growth rate became 22. When the MFA came into force in 1974, we
were glad to note that one of its basic objective was to "achieve
the expansion of trade, the reduction of barriers to such trade
and the progressive liberalisation of world trade in textile pro-
ducta." But tags instead took a turn for the worse as far as the
U was cr ncerned.
It is now history that when the present /
EBC Textiles agreement was concluded in 1975 we had to accert
annual growth rates for the UK market in 7 restraint items at
0.5% only and for the UK market es a whole only something around r
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