INDUSTRY AND TRADE
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Kong is particularly concerned that the process of creating the Common Market should not result in limitations on the com- munity's external trade.
The GATT Cotton Textile Committee held its seventh annual review in October 1969 in Geneva of the operation of the Arrange- ment regarding International Trade in Cotton Textiles (CTA). A Hong Kong delegation was in attendance throughout the session. The meeting was adjourned to December 1969, when after some further discussion it was again adjourned to early in 1970 in order to allow for further consideration on the future of the CTA. The latter is due to come to an end in September 1970.
The United Nations Conference on Trade and Development (UNCTAD) through its Special Committee on Preferences continued to discuss in detail the formulation and implementation of a general scheme to grant preferential entry to exports from developing countries to the markets of developed countries. Although all developed countries had agreed in principle to such a scheme and had tabled 'illustrative' offers in the Organisation for Economic Co-operation and Development, they have yet to agree to a sub- stantive offer to be presented to the UNCTAD Special Committee on Preferences. Hong Kong followed developments in the two forums and was in close liaison with representatives of the British Government to ensure that the Colony's interests were safeguarded.
Canada The three-year Hong Kong/Canada agreement on cotton woven fabrics, together with the one-year agreement on cotton woven apparel and towels, expired on September 30. Following consultations in Hong Kong with Canadian officials in August and September, these agreements were renewed for a further year. Under the new arrangements on cotton woven fabrics, the overall yardage was slightly increased and the specific limits on all particular fabrics, except for cotton towelling, were removed. The arrangements cover- ing exports of cotton woven apparel and towels also provided for increased limits and improved flexibility. At the same time the existing sub-limits within the apparel categories were removed.
Hong Kong also extended for a further year its unilateral under- taking to restrain exports to Canada of polyester and polyester- cotton blend shirts, blouses and trousers, and the restraint was
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