TNAG-0629-FCO40-777-Effect-of-GATT-Multi-Fibre-Arrangement-on-Hong-Kong-negotiat-1988 — Page 215

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items in strong demand that the quota limits have been of

any significance at all and indications are that this will

remain the case for the rest of this year.

The Hong Kong textile industry has learned to live

with restraints.

One might almost say it grew up with them,

for they now have a history of nearly twenty years. Since

1960, the majority of trading nations have recognised formally

that special problems attach to world trade in textiles which

call for special solutions solutions recognised as not

being applicable to other areas of trade. That is, I suggest,

a most important qualification and one we should not lose

sight of.

It might very reasonably be asked, why, in the

middle of 1977, there should be an apparently mounting tide

of restrictions and a regression from the principles of

progressive liberalisation. Why, indeed, at a time when

over 60 per cent of the textile exports of Hong Kong

(or about 30 per cent of our total domestic exports) are

subject to restraint should there be threats, and even

actions, on the part of some of our major trading partners

to curtail or actually cut back on the export opportunities

of the industry on which so much of this community's'

livelihood depends?

We in Hong Kong never have and never will deny

that adjustments in the textiles sector in our main markets

can present social, economic and political problems.. We

have an excellent track record of co-operation in moderating

the rate of our textile exports where they have been shown,

in terms of the internationally agreed ground rules, to have

been causing or threatening market disruption.

We count

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