Commonwealth preference was a system of trade co-operation giving varying degrees of preference to products from members of the British Commonwealth. As a British colony, Hong Kong was eligible for commonwealth preference through a certification system similar to that revolving on certificates of origin. However, Hong Kong’s participation in the system, and its application to a wide variety of Hong Kong products, came up increasingly against protectionist sentiment in the UK domestic market. In the end, Hong Kong, along with some other Commonwealth members, was forced into voluntary restraints on its exports, particularly for garments and textiles. This required a system within Hong Kong for administering quotas to factories.
Keywords: Hong Kong; Free trade; Protectionism; Commonwealth preference; Garments; Textiles; Clothing; Quotas
Chapter. 4775 words.
Subjects: Business and Management
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