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2. THE RESTRAINT LEVEL UNDER THE NEW AGREEMENT SHOULD BE ESTAB- LISHED IN ACCORDANCE WITH THE RELEVANT PROVISIONS OF THE MFA.

FOR THE TEXTILE PRODUCTS PRESENTLY RESTRAINED, A POSITIVE GROWTH RATE SHOULD BE APPLIED.

3. THE ATTENTION OF THE COMMUNITY IS INVITED TO THE FACT THAT ANY ADDITIONAL RESTRAINT MEASURES ON TRADE IN TEXTILES WOULD POSE SERIOUS PROBLEMS ECONOMICALLY, SOCIALLY AND POLITICALLY TO KOREA WHICH EARNS ABOUT ONE-THIRD OF ITS ANNUAL EXPORT EARNINGS FROM THE EXPORT OF TEXTILE PRODUCTS. CURRENTLY 900,000 WORKERS ARE BEING EMPLOYED BY THE TEXTILE INDUSTRY IN KOREA REPRESENTING 28% OF THE TOTAL WORKERS ENGAGED IN ALL INDUSTRIAL SECTORS.

THE KOREAN GOVERNKENT EARNESTLY HOPES THAT THE FORTHCOMING

TEXTILE NEGOTIATION WOULD COME TO AN AMICABLE AND SUCCESSFUL CONCLUSION UPHOLDING THE BASIC OBJECTIVES OF THE MFA TO

ACHIEVE THE EXPANSION OF TRADE IN TEXTILE PRODUCTS IN AN ORDERLY

MANNER.

ENDS

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INT. TRADE DISTN. TRED

COPIES TO: MR.SLATER

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