- 2 -
different from the existing one. The new system has been
devised by the US Government with a view to streamlining
the administration of its bilateral textile agreements.)
Restraint lirits
For the first year of the new agreement, Hong Kong's
total exports of all textiles to the US will be subject to
an aggregate limit of 958 million square yards, sub-divided
into four Groups limits:
Group I
262 million sq. yds.
Group II
595 million sq. yds.
Group III
59 million sq. yds.
Group IV ..42 million sq. yds.
Within the aggregate and Group limits, there will
be 23 specific limits. Of these specific limits, 15 apply
to single categories and 8 apply to 'mergers' each consisting
of two or three single categories.
The total number of
individual categories subject to specific limits is 33, of
which 30 consist of clothing items.
5
of the 8 specific limits applicable to 'mergers',
four are broken down further into two sub-limits each. These
sub-limits, which apply to individual components within the
'merger', have a degree of overlap, i.e. the sum of the two
sub-limits exceed the specific limit on the 'merger'. Each
component of the 'merger' may be shipped up to the level of
the sub-limit provided total shipments of both components do
not exceed the specific limit on the 'merger' as a whole.
(This provides a degree of flexibility in quota utilisation.)
18.
No comments yet.
Private notes are available after approval.