Ming Pao (8/12)
p. 2
Mr.
Vice Chairman of the Federation of HK Cotton Weavers, Philip Lai admitted the spinning trade will be most seriously affected
He commented, "70% of among the other sectors of textile industry.
the textile factories here are engaged in manufacture of cotton fabrics or related products. HK has quotas of only 13 thousand tonnes for cotton fabrics, 32% less than 1976's actual export performance, and even less than the export total to the UK alone in 1959. Furthermore, quotas for trousers and shirts, the raw materials of which are mainly cotton fabrics, are drastrically cut, therefore, the blow upon. cotton spinning industry is very serious. that HK has to develop high-priced goods and reduce production volume. This can enable quotas be utilised in full and stabilize employment to-certain extend.
He opined
Kung Sheng Daily News (8/12)
The paper expressed strong pessimism,"Manufaturers who have
few or no quotas at all will be at a disadvantage as quota premia will
In these few days, an increasing number of medium certainly be raised.
and small-sized facties have closed down."
Ta Kung Pao (8/12)
V
woven
Criticised the big cuts on quotas for cotton fabrics, shirts, woven trousers, knitted briefs, and the 8.4% reduction on eight" sensitive items" which represented 57% of the total Textile
Most of the manufacturers opined that exports to the EEC last year.
impact will be felt only in the second half of next year, however, small-sized factories or those which have inadequate quotas will be greatly affected. "The agreement will have a more extensive and protracted adverse effect on the exports of local textiles to the EC on the account of its 5-year duration and low anmual quota growth."
It said.
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