§ Mr. James LamondTo ask the Chancellor of the Duchy of Lancaster what was the outcome of recent negotiations between the European Community and Egypt for renewal of a voluntary restraint arrangement on cotton yarn; and if he will make a statement.
§ Mr. ButcherIn the recent negotiations between the European Community and Egypt for renewal of the voluntary restraint arrangement on cotton yarn the level for 1988 was agreed at 29,500 tonnes for the Community as a whole, with a growth rate of 3.4 per cent. The United Kingdom share for 1988 is 2,500 tonnes.
The outcome was the best the Community could achieve in the circumstances. Without an agreement the Community market would have been wide open to unrestrained imports of Egyptian cotton yarn.