TNAG-0629-FCO40-777-Effect-of-GATT-Multi-Fibre-Arrangement-on-Hong-Kong-negotiat-1988 — Page 168

• 3.-

Full details of the aggregate, Group and specific limits for 1978 are set out at Enclosure II.-

Growth

Compared with 943 million square yards for the

final year of the current agreement, the 1978 aggregate limit of 958 million square yards represents a growth rate of 1.5%.

For the last four years of the new agreement, the

aggregate limit will increase at 6% a year compound.

For 12 of the 33 categories subject to specific limits, the growth rate for 1979 and subsequent years will be 3% per annum. (The categories affected include cotton shirts and blouses, both knit and woven; ladies' cotton and mmf trousers, slacks and shorts; and all cotton nightwear.)

The annual growth rate for all woollen textiles

will remain at 1% as in the current agreement.

All other specific limits will be increased at the

rate of 6% per annum from 1979 onwards.

Flexibility Provisions

'Swing' (a provision whereby a Group or specific limit may be increased provided an equivalent amount is deducted from another Group or specific limit) will continue to be allowed under the new agreement. Compared with the

A

current agreement, the limit on 'swing' into 12 apparel cate- gories has been reduced from 7% to 6%, while 'swing' into Croup IV (wool textiles) has been increased from 1% to 3%.

The total limit on:. on:.

(a)

carryover (i.e. shipment against quotas left

/over