TNAG-0629-FCO40-777-Effect-of-GATT-Multi-Fibre-Arrangement-on-Hong-Kong-negotiat-1988 — Page 169

(b)

over from the immediately preceding year)

and

carry forward (i.e. shipment against quotas

'borrowed' from the immediately following year)

remains at 11% of the receiving year's limits, Within this

overall limit, the limit on carry forward will be 7.15%. (compared with 6% under the current agreement).

Export Authorisation Arrangement

Exports of all 'basket' categories (i.e. categories not subject to specific limits) will continue to be subject to the existing Export Authorisation arrangement.

Major Review

A major review of the new agreement will be under- taken by the Hong Kong and US Governments before the end of the third year (i.e. 1980).

Extension of Current Agreement

The current HK/US textile agreement, which is due to expire on 30 September 1977, has been extended to the end of the year, with proportionate increases in the restraint

limits..

PUBLIC PELACIONS OFFICE COMMERCE & INDUSTRY DEPT JULY 1977

5