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International cotton textiles arrangement



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EMBARGO : Not to Be published or "broadcast "before 12 Noon Thursday, 15th November, 1962. . ■

No. 1226

FOR PRESS

INTERNATIONAL COTTON TEXTILES- ARRANGEMENT

The Deputy Prime Minister and Minister for Trade,

Mr. J. McEwen, announced today that Australia would accept the

five year international Cotton Textiles Arrangement which

came into force on 1st October, 1962. .

The Arrangement was drawn up by the Cotton Textiles

Committee of the General Agreement on Tariffs and Trade. It

is designed to promote orderly expansion of world trade in

cotton yarns, piece goods and made-up articles, by the

progressive relaxation and eventual elimination of import

restrictions on these goods. The Arrangement provides safe­

guards (including voluntary export restraint) against market

disruption situations arising in importing countries. .

Mr. McEwen stressed that Australia, which was a

developing country and at the same time one of the world's

largest importers of cotton textiles, was in a somewhat .

different position to other countries taking part in the

Arrangement. This, he said, had been recognised by the .

Cotton Textiles Committee. . Further, Australia had only

recently removed all import licensing restrictions on cotton

textiles. '

In these circumstances, Australia is accepting

the Arrangement on the basis that the Arrangement would hot

affect the use of temporary or normal protection measures,

•in the event that the provisions of the Arrangement are not

adequate to protect Australian industry in a particular

situation.

Mr. McEwen also pointed out that the sections of

the Arrangement, providing for consultation between importing

and exporting countries, and voluntary export restraints,

could be of Considerable advantage to Australia and the

Australian cotton textile industry, should market disruption

situations develop during the currency of the Arrangement. t

Mr. McEwen said that this international agreement

on an important item in world trade was a further step

towards the objective of orderly marketing'internationally ■

of great items of trade. This is a policy now gaining

increasing support, and for which Australia had a record" '

of initiative and advocacy*. - . ’

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149/62T

Canberra,

15th November, 1962.

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