TNAG-0633-FCO40-781-Effect-of-GATT-Multi-Fibre-Arrangement-on-Hong-Kong-negotiat-1977 — Page 22

Eight Advantages

"It offers eight important advantages over the old one:

Global coverage for the eight most sensitive products;

Growth rates for imports which vary inversely to market penetration instead of a flat 6 per cent increase every year;

Much more comprehensive coverage ie overall about 98 per cent of UK

imports;

Much more realistic base levels;

No carryover of the under-used 1977 quotas into 1978;

Automatic trigger mechanisms;

New categorisation of products;

Stricter monitoring of imports by all EEC members.

"The UK textile and clothing industries employ some 800,000 people and produce exports worth some £1,300m in 1976 or 7 per cent of our total export trade.

"The UK Government believes this MFA will provide the industries with the more stable long term environment in which they can take the necessary decisions

for their future development and success."