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industry analysis report Cloths Industry

May 30, 2018

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  • 8/9/2019 industry analysis report Cloths Industry

    1/36

    ALNV@Q MGFUQVR]

    Alnv` Mgfuqvr}

    Fecmgmvmng nc Alnv`mgo

    Ajlman mq j cjbrma kjfe crnk ugbleja`ef, jgf ncveg gnv cull} trnaeqqef, anvvng' Mv kj}

    angvjmg ugqetjrjvef `uqi tjrvq, cnr epjktle' V`e cjbrma mq leqq anjrqe jgf v`mai v`jgajgsjqnrfegmk, buv nwmgo vn mvq ugcmgmq`ef jgf ugf}ef jttejrjgae, mv mq qvmll ser}

    a`ejt'

    Mgvrnfuavmng

    V`e Alnv`mgo Mgfuqvr} Mgfmj mq jq jgamegv jq v`e wnrlfq alnv`mgo mgfuqvr}' Mg cjav v`e cmrqv

    ignwg anvvng aulvmsjvmng qeekq vn be crnk Mgfmj cnllnwef b} UI' Mg Mgfmj, alnv`mgo

    mgfuqvr} cmrqv nc jll feselntef mg Kukbjm w`ma` mq jlqn ignwg jq v`e Kjga`eqver nc v`e

    Ejqv' Ljver ng v`e vepvmle.alnv`mgo mgfuqvr} knsef ng vn nv`er jrejq mg Mgfmj qua` jq

    Ouhjrjv, Vjkml Gjfu eva'

    V`e Alnv`mgo Mgfuqvr} Mgfmj mq clnurmq`mgo wmv` jll v`e knferg ezumtkegvq jgf

    vea`gnlnomeq' Mv mq jll beajuqe nc v`e fefmajvmng jgf `jrf wnri nc v`e wnrierq, alnv`mgo

    kjgucjavurerq jq well jq v`e eptnrverq v`jv Alnv`mgo Mgfuqvr} Mgfmj `jq ojmgef j

    reqteavjble jgf rekjrijble tnqmvmng mg v`e mgvergjvmngjl kjriev' V`e wnrlf mq lnnimgo ut

    vn v`e Mgfmjg alnv`mgo mgfuqvr} vn felmser mvq onnfq uqmgo vea`gnlnomeq v`jv jre uqef jgf

    feselntef elqew`ere mg v`e wnrlf, be mv mg UQJ nr Hjtjg'Qug arjcv feqmogq jre j well ignwg gjke mg v`e Alnv`mgo Mgfuqvr} Mgfmj v`jv mq ignwg cnr

    mvq ljveqv vregfq, qv}le # cjq`mng' Mv mq nge nc v`e alnv`mgo quttlmerq Mgfmj v`jv kjgucjavureq

    jgf eptnrvq jll imgfq nc ojrkegvq lmie Kegq v+q`mrvq, igmvvef v+q`mrvq, lngo qleese v+q`mrvq,

    q`nrv qleese v+q`mrvq, vntq jgf nv er Mgfmjg igmvvef ojrkegvq # hjaievq'

    Mvq cnauq `jq jlwj}q beeg ng nccermgo jg jvvrjavmse rjgoe nc ojrkegvq wmv` vrjfmvmngjl

    qtmrmv' Jq j anktjg} nc mgvergjvmngjl retuve, mv `jq kjfe mgrnjfq mg v`e mgvergjvmngjl

    kjriev' V`e quaaeqq jlqn nweq vn v`e `mo` zujlmv} nc v`e ojrkegvq v`jv mv nccerq'

    Mgfmj `jq j rma` jgf sjrmef vepvmle `ermvjoe, w`ere eja` reomng nc Mgfmj `jq mvq nwg ugmzue

    gjvmse anqvuke jgf vrjfmvmngjl jvvmre' _`mle vrjfmvmngjl alnv`eq jre qvmll wnrg mg knqv nc

    rurjl Mgfmj, urbjg Mgfmj mq a`jgomgo rjtmfl}, wmv` mgvergjvmngjl cjq`mng vregfq recleavef b}

    v`e }nugo jgf oljknrnuq, mg v`e anqkntnlmvjg kevrnq nc Mgfmj' Cjq`mng mg Mgfmj mq j

    JTOAKQ, RJHJKTEV' :

    http://www.apparelsearch.com/Definitions/Fiber/Cotton_definition.htmhttp://www.apparelsearch.com/Definitions/Fabric/FABRIC_definition.htmhttp://www.apparelsearch.com/Definitions/Fabric/canvas_definitions.htmhttp://www.apparelsearch.com/Definitions/Fabric/canvas_definitions.htmhttp://www.apparelsearch.com/Definitions/Fabric/denim_definition.htmhttp://www.apparelsearch.com/Definitions/Fabric/denim_definition.htmhttp://www.apparelsearch.com/Definitions/Fiber/Cotton_definition.htmhttp://www.apparelsearch.com/Definitions/Fabric/FABRIC_definition.htmhttp://www.apparelsearch.com/Definitions/Fabric/canvas_definitions.htmhttp://www.apparelsearch.com/Definitions/Fabric/denim_definition.htm
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    ALNV@Q MGFUQVR]

    smbrjgv qaege, j gjqaegv mgfuqvr} jgf j anlnrcul jgf oljknrnuq wnrlf w`ere feqmogerq jgf

    knfelq qvjrv gew vregfq eser} fj}'

    Cjq`mng mg Mgfmj `jq beanke j ornwmgo mgfuqvr} wmv` mgvergjvmngjl esegvq qua` jq v`e

    Mgfmj Cjq`mng _eei jgf jggujl q`nwq b} cjq`mng feqmogerq mg v`e kjhnr amvmeq nc Mgfmj'

    V`e smavnrmeq nc j gukber nc Mgfmjg bejuv} zueegq mg Mgvergjvmngjl esegvq qua` jq v`e

    Kmqq _nrlf jgf Kmqq Ugmserqe angveqvq `jse jlqn kjfe Mgfmjg knfelq reanogmxef

    wnrlfwmfe' Cjq`mng feqmogerq qua` jq Rmvu Iukjr, Rmvu Berm, Rn`mv

    Bjl, Rmgj F`jij, Kuxjccjr Jlm, Qjv}j Tjul, Jbrj`jk jgf V`jinre, Vjrug Vj`mlmjgm, HH

    Sjlj}j jgf Kjgmq` Kjl`nvrj jre qnke nc v`e well ignwg cjq`mng feqmogerq mg Mgfmj'

    Cjq`mng mg Mgfmj anserq j w`nle rjgoe nc alnv`mgo crnk nrgjve alnv`eq feqmogef cnr

    weffmgo aerekngmeq vn trv lmgeq, qtnrvq wejr jgf ajqujl wejr' Vrjfmvmngjl Mgfmjg

    vea`gmzueq nc ekbrnmfer} qua` jq a`mi`jg, arewel jgf xjrfnqm, jgf vrjfmvmngjl wejseq jgfcjbrmaq `jse beeg uqef b} Mgfmjg feqmogerq vn arejve Mgfn+weqverg alnv`mgo mg j cuqmng nc

    v`e beqv nc Ejqv jgf _eqv'

    V`e Tentle _`n Trnfuae jgf Qell Alnv`mgo

    Kmllmngq nc tentle wnri vn trnsmfe v`e kjvermjlq jgf qersmaeq v`jv requlv mg cmgmq`ef

    ojrkegvq' Eja` terqng mgsnlsef mg trnfuamgo nr qellmgo alnv`mgo jffq vn v`e sjlue nc v`e

    alnv`mgo v`rnuo` `mq wnri'

    Cjrkerq jgf rjga`erq jre qnuraeq nc alnv`mgo kjvermjlq' V`e} rjmqe anvvng, wnnl, cljp,

    jgf qmli jq well jq v`e jgmkjlq w`nqe qimgq curgmq` lejv`er' V`e rubber vreeq

    @mqvnr}

    Mg :?44, Brmvjmg bjggef mktnrvjvmng nc anvvng alnv` (nrajlman- crnk Mgfmj, mg jg eccnrv vn

    trnt ut Brmvmq` vepvmle mgfuqvr}' Mgfmjg vepvmleq were qutermnr' V`e bjg cjmlef, jgf wjq

    Qvregov`egef mg :?24' Mv jlknqv feqvrn}ef v`e Mgfmjg vepvmle mgfuqvr}, jgf Mgfmj wjq

    cnraef vn bu} Brmvmq` vepvmleq'

    Crnk v`e Qvnge Joe vn v`e :0v` aegvur}, jll cjbrmajvmng nc alnv`mgo wjq fnge b} `jgf'Qtmggmgo jgf wejsmgo kja`mgeq v`jv anulf be nterjvef wmv` v`e cnnv nr wmv` wjver tnwer

    were feselntef mg v`e ljvver termnf' Mg v`e kmf+:044q qewmgo kja`mgeq were mgvrnfuaef'

    Cnr feajfeq jcver v`emr mgsegvmng, `nweser, qewmgo kja`mgeq were uqef ngl} cnr qmktle

    qejkmgo9 nv`er qewmgo geefef'

    JTOAKQ, RJHJKTEV' 2

    http://www.apparelsearch.com/Definitions/Fabric/TEXTILE_definition.htmhttp://www.apparelsearch.com/Definitions/Fabric/TEXTILE_definition.htm
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    ALNV@Q MGFUQVR]

    Ankbmgef eccnrv geefef vn cjae a`jllegoeq mg alnv` mgfuqvr}

    V`e Mgfmjg Onsergkegv jgf fnkeqvma vepvmle jgf alnv`mgo mgfuqvr} wmll `jse vn ekbjri

    ng j dankbmgef/ jgf j dan+nterjvmse/ eccnrv mc v`e} jre vn ecceavmsel} reqtngf vn v`e

    a`jgomgo vrjfmgo egsmrngkegv mg v`mq qeavnr, jaanrfmgo vn Kr' Rma`jrf @uo`eq, Anugq

    ellnr, Vepvmleq Fmsmqmng, _nrlf Vrjfe Nrojgmxjvmng (_VN-'

    dd_`mle v`e Mgfmjg Onsergkegv `jq vn be q}ktjv`evma jgf trnsmfe cnugfjvmngq mg verkq

    nc tnlmameq vn arejve v`e beqv amraukqvjgaeq cnr eccmamegv trnfuavmng, mgfuqvr} `jq vn be

    jooreqqmse mg jmkmgo jv beankmgo knre anktevmvmse//, `e qjmf mg `mq jffreqq jv j qekmgjr

    ng dJttjrel eptnrvq mg v`e gew kmlleggmuk8 Mgfmj/q rejfmgeqq vn cjae _VN a`jllegoeq/

    `ere'

    V`e qekmgjr wjq nrojgmxef b} v`e Jttjrel Eptnrv Trnknvmng Anugaml jgf v`e Gjvmngjl

    Mgqvmvuve nc Cjq`mng Vea`gnlno}'

    Kr' @uo`eq tnmgvef nuv v`jv Mgfmj eghn}ef angqmferjble jfsjgvjoeq w`eg anktjref vn

    nv`er anugvrmeq mg v`e vepvmle jgf alnv`mgo mgfuqvr} jq mv ajg ddleserjoe// ng v`e treqegae nc

    jfezujve rjw kjvermjlq'

    Mgfmj wmll, `nweser, jlqn `jse vn eg`jgae mvq anktevmvmsegeqq mc q`e were vn anugver

    aervjmg fmqjfsjgvjoeq jrmqmgo ng jaanugv nc ddmgarejqmgo gukber nc reomngjl vrjfe

    joreekegvq// w`ma` anulf be j kjriev jaaeqq angqvrjmgv cnr v`e fnkeqvma vepvmle jgf alnv`mgo trnfuavq'

    ddCnroev v`e }ejr 2445 (b} w`eg zunvjq jre epteavef vn be anktlevel} jbnlmq`ef-' V`e

    a`jllegoeq jre v`ere jq nc vnfj}' Qvjrv wnrimgo gnw, nv`erwmqe }nu wmll be ajuo`v ncc+

    oujrf w`eg v`e a`jgoeq qweet v`e qeavnr jcver v`e anktleve reknsjl nc bmljverjl zun vjq

    jgf verkmgjvmng nc v`e vepvmleq joreekegv//, `e qjmf'

    @e qjmf v`jv jq zunvj bjrrmerq cjll jgf vjrmccq were refuaef, vrjfe mg v`mq qeavnr wnulf

    aervjmgl} mgarejqe jgf v`e jfsjgvjoeq wnulf on vn v`nqe w`n `jf tretjref ejrl} jgf

    tretjref well' ddd_`mle v`e qeavnr mq bnugf vn be jcceavef b} eangnkma fnwgvurgq j gf

    qevbjaiq jlngo v`e wj}, mg jg} brnjf nr lngo+verk angqmferjvmng nc vepvmleq jgf alnv mgo

    vrjfe, j tnqmvmse tmavure ekeroeq//, `e qjmf'

    Ng v`e javujl trnoreqq ja`mesef v`uq cjr mg v`e mktlekegvjvmng nc v`e _VN joreekegv ng

    vepvmleq jgf alnv`mgo (JVA-, `e qjmf v`jv ddmv mq alejr jq we tjqq v`e kmf+tnmgv mg v`e :4

    JTOAKQ, RJHJKTEV' 1

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    ALNV@Q MGFUQVR]

    }ejr vrjgqmvmngjl trnaeqq, v`jv v`e mgveorjvmng nc trnfuavq mgvn _VN ruleq b } v`e UQ, v`e

    Eurntejg Ankkugmv} (EA-, Ajgjfj jgf Gnrwj} `jq beoug wmv` v`e lejqv qegqmvmse jrejq

    jgf wmv` cew zunvjq bemgo reknsef'//

    Bnv` v`e mgveorjvmng nc trnfuavq jgf v`e jttlmajvmng nc zunvj ornwv` rjveq, b} v`e UQ, v`e

    EA, Ajgjfj jgf Gnrwj}, `jse kev v`e bjqma rezumrekegvq mg v`e JVA'

    Mg v`e cmrqv qvjoe (:==5+=?-, w`mle v`e anrreav snlukeq nc trnfuavq were mgveorjvef, gn

    zunvjq were elmkmgjvef b} v`e cnur kekberq kjmgvjmgmgo reqvrmavmngq, wmv` nge epaetvmng

    mg Ajgjfj' Mg v`e qeangf qvjoe (:==0+244:-, j gukber nc trnfuavq ugfer zunvj w ere

    mgveorjvef mg Ajgjfj w`mle v`e cmrqv cew zunvjq were reknsef b} v`e EA jgf v`e UQ9

    gnge nc v`eqe jcceavef v`e zunvjq v`eqe anugvrmeq (Ajgjfj, EA jgf v`e UQ- kjmgvjmg wmv`

    Mgfmj'

    _`mle Mgfmj (jlngo wmv` kjg} feselntmgo anugvrmeq- q`jreq v`e angaerg v`jv v`e revegvmngnc zunvjq vn v`e egf nc v`e trnaeqq (bjai lnjfmgo- anulf lejf vn qermnuq trnblekq

    mgalufmgo tnqqmble fekjgfq cnr v`emr angvmguef jttlmajvmng jcver 2445, Kr' @uo`eq tn

    mgvef nuv v`jv v`e anugvrmeq kjmgvjmgmgo zunvjq `jse reangcmrkef v`emr ankkmvkegv vn

    ddcull mgveorjvmng//, b} Hjgujr} :, 2445'

    ddV`e JVA wmll `jse vn be verkmgjvef b} Hjgujr} :, 2445 jgf v`e aurregv joreekegv fneq

    gnv trnsmfe cnr epvegqmng nc jttlmajvmng nc zunvjq//, `e qjmf'

    Kr' @uo`eq jlqn uroef v`e Onsergkegv vn jfntv j ddwmqe// zunvj kjgjoekegv jttrnja`

    b} vjimgo jfsjgvjoe nc v`e clepmbmlmvmeq jsjmljble mg v`mq reojrf'

    Ng v`e sjrmnuq dmktlekegvjvmng/ angaergq rjmqef b} feselntmgo anugvrmeq, mgalufmgo

    Mgfmj, jv sjrmnuq mgvergjvmngjl cnrukq, `e jfkmvvef v`jv v`e dq}qvek mq cjr crnk terceav/

    jgf qjmf v`jv v`ere wjq jg dngonmgo qvruoole/ vn knse vnwjrfq j cjmr jgf nteg vrjfmgo

    q}qvek'

    Kjvermjlq

    Ankkng alnv`mgo kjvermjlq mgalufe8 Alnv`, v}tmajll} kjfe nc anvvng, cljp, wnnl, `ekt,

    rjkme, nr qmli Fnwg cnr fnwg+cmllef tjrijq Cur Lejv`er G}lng Leqq+ankkng alnv`mgo

    kjvermjlq mgalufe8 Bjri Tjter Rubber TSA Remgcnramgo kjvermjlq qua` jq wnnf, bnge,

    tljqvma jgf kevjl kj} be uqef vn qvmcceg'

    JTOAKQ, RJHJKTEV' 6

    http://www.experiencefestival.com/a/Clothing_-_Clothing_materials/id/1284479http://www.experiencefestival.com/a/Clothing_-_Clothing_materials/id/1284479
  • 8/9/2019 industry analysis report Cloths Industry

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    ALNV@Q MGFUQVR]

    Alnv`mgo

    Rjavmajl cugavmngq nc alnv`mgo mgalufe trnsmfmgo v`e `ukjg bnf} trnveavmng jojmg

    _ejv`er qvrngo quglmo`v, epvreke `ejv nr anlf, jgf treamtmvjvmng jlqn trnveavmng

    jojmgqv mgqeavq, gnpmnuq a`ekmajlq, wejtngq, jgf angvjav wmv` jbrjqmse qubqvjgaeq' Mg

    quk, alnv`mgo trnveavq jojmgqv jg}v`mgo v`jv kmo`v mghure v`e gjief `ukjg bnf}' @ukjgq

    `jse q`nwg epvreke mgsegvmsegeqq mg fesmqmgo alnv`mgo qnluvmngq vn trjavmajl trnblekq'

    Qee8 jrknr, fmsmgo qumv, bee+ieeter/q anqvuke, knvnra}ale lejv`erq'

    Mgsnlsmgo alnv`mgo

    Beajuqe alnv`mgo jgf jfnrgkegv jre alnqel} reljvef vn mfejq nc `ukjg qepujlmv} jgf

    qepujl fmqtlj}, `ukjgq kj} feselnt alnv`mgo cevmq`eq' V`e} kj} be qvrngol} jrnuqef b}

    v`e qmo`v nc jgnv`er terqng wejrmgo alnv`mgo jgf jaaeqqnrmeq v`e} angqmfer jrnuqmgo nr

    qepujll} epamvmgo' Qnkevmkeq v`e nbheav nc alnv`mgo beankeq v`e nbheav nc jrnuqjl mvqelc'

    Cevmq`eq `jse beeg fnaukegvef mg eser} aulvure jgf `jse beeg reanrfef v`rnuo`nuv

    `mqvnr}' Ankkng cevmq`eq mgsnlsmgo alnv`mgo mgalufe'''

    Kjmgvegjgae

    Alnv`mgo, ngae kjgucjavuref, quccerq jqqjulv bnv` crnk wmv`mg jgf crnk wmv`nuv' V`e

    `ukjg bnf} mgqmfe q`efq qimg aellq jgf bnf} nmlq, jgf epufeq qwejv, urmge, jgf ceaeq'

    Crnk v`e nuvqmfe, qug fjkjoe, fjkt, jbrjqmng, fmrv, jgf nv`er mgfmogmvmeq jcclmav v`e

    ojrkegv' Clejq jgf lmae vjie ut reqmfegae mg alnv`mgo qejkq' _ell+wnrg alnv`mgo, mc gnv

    alejgef jgf recurbmq`ef, wmll qkell, mva`, lnni qarucc}, jgf lnqe cugavmngjl'''

    2:qv+aegvur} alnv`mgo qv}leq

    _eqverg cjq`mng `jq vn j aervjmg epvegv beanke mgvergjvmngjl cjq`mng, jq _eqverg kefmj

    jgf qv}leq tegevrjve jll tjrvq nc v`e wnrlf' Ser} cew tjrvq nc v`e wnrlf rekjmg w`ere

    tentle fn gnv wejr mvekq nc a`ejt, kjqq+trnfuaef _eqverg alnv`mgo' Eseg tentle mg tnnr

    anugvrmeq ajg jccnrf uqef alnv`mgo crnk rma`er _eqverg anugvrmeq' @nweser, tentle kj}

    wejr ev`gma nr gjvmngjl freqq ng qteamjl naajqmngq nr mc ajrr}mgo nuv aervjmg rnleq nr

    naautjvmngq' Cnr epjktle, knqv Hjtjgeqe wnkeg `jse jfntvef _eqverg+qv}le freqq cnr

    fjml} wejr'

    JTOAKQ, RJHJKTEV' 5

    http://www.experiencefestival.com/a/Clothing_-_Functional_clothing/id/1284476http://www.experiencefestival.com/a/Clothing_-_Sexual_fetishes_involving_clothing/id/1284478http://www.experiencefestival.com/a/Clothing_-_Clothing_maintenance/id/1284480http://www.experiencefestival.com/a/Clothing_-_Early_21st-century_clothing_styles/id/1284481http://www.experiencefestival.com/a/Clothing_-_Functional_clothing/id/1284476http://www.experiencefestival.com/a/Clothing_-_Sexual_fetishes_involving_clothing/id/1284478http://www.experiencefestival.com/a/Clothing_-_Clothing_maintenance/id/1284480http://www.experiencefestival.com/a/Clothing_-_Early_21st-century_clothing_styles/id/1284481
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    ALNV@Q MGFUQVR]

    Cugavmngjl vea`gnlno}

    V`e trjavmajl cugavmng nc alnv`mgo mq vn trnveav v`e `ukjg bnf} crnk wejv`er qvrngo

    quglmo`v, epvreke `ejv nr anlf, jgf treamtmvjvmng jq well jq trnveav crnk mgqeavq,

    gnpmnuq a`ekmajlq, wejtngq, jgf angvjav wmv` jbrjqmse qubqvjgaeq' Mg quk, alnv`mgo

    trnveavq jojmgqv jg}v`mgo v`jv kmo`v mghure v`e gjief `ukjg bnf}' @ukjgq `jse q`nwg

    epvreke mgsegvmsegeqq mg fesmqmgo alnv`mgo qnluvmngq vn trjavmajl trnblekq' Qee8 jrknr,

    fmsmgo qumv, bee+ieeter/q anqvuke, knvnra}ale'

    KMQQMNG

    Kmqqmng Alnv`mgo retreqegvq v`e fmcceregae mg }nur lmce, j gew brejv` mg }nur freqqmgo

    `jbmvq jgf j gew tnmgv nc smew mg }nur lmce qv}le'

    Mv sjlue ev`gma, aulvurjl jgf lmce qv}le fmserqmv}, wmv` jvvmvufe nc }nur qelc eptreqqmng'

    Kmqqmng Alnv`mgo brjgf treqegvq j rjgoe nc trnfuavq, crnk zumgveqqegvmjl aljqqma, vn j

    aljqqmer vregf mg vnfj} cjq`mng'

    Nur gew anlleavmng wmll omse }nu j aljqqmer lnni buv j knre feqmrjble

    qv}le wmv` j geser a`jgomgo zujlmv} jgf cjq`mng' Vrnuo` nuv v`e feqmog v`jv we arejvmgo,

    Kmqqmng kjie nc vnfj} gew vregf cjq`mng, we qetjrjveq Kjg crnk v`e nrfmgjr} wejrmgo

    qv}le' Recleavmgo jg jll fj} wejrjble vregf vrnuo` nuv v`e }ejr, we onv nur egeromeq crnk

    a`jgoe qv}lmq` v`jgiq vn nur trnfuavmng jqqnrvkegv'

    Jq mgfmajve b} nur anlleavmng, we qev ut v`e vregf vn ieet ut wmv`, mg eser} gew qejqng

    wmv` nur q`mrv, vee q`mrv wjq`ef fegmk jgf trmgv v`jv jttlmef vn eja` trnfuav' Kmqqmng

    alnv`mgo mq feverkmgef nc kjimgo mvq gjke nge nc v`e lejfmgo gjke nc vnfj} cjq`mng'

    Smqmng

    Mgfmjg vepvmle jgf alnv`mgo mgfuqvr} `jq ekbjrief ng j smqmng nc ajtvurmgo kjriev

    wnrv` UQF ::4 bg b} C] 24:2 + vnvjl nc fnkeqvma `nuqe`nlf angquktvmng jgf

    eptnrvq, crnk UQF 52 bg mg C] 2443

    V`e fnkeqvma `nuqe`nlf kjriev tnvegvmjl mq eqvmkjvef vn be UQF 34 bg jgf CNB

    sjlue nc eptnrvq jv UQF 54 bg b} C] 24:2

    JTOAKQ, RJHJKTEV' 3

    http://www.experiencefestival.com/a/Clothing_-_Clothing_as_functional_technology/id/4997232http://www.experiencefestival.com/a/Clothing_-_Clothing_as_functional_technology/id/4997232
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    ALNV@Q MGFUQVR]

    V`e jbnse ornwv` wnulf vrjgqljve mgvn sjlue nc trnfuavmng nc v`e mgfuqvr}

    (mgalufmgo gng `nuqe`nlf angquktvmng- vn mgarejqe jv :3% t'j' crnk UQF 2? bg

    mg C] 2445 vn jrnugf UQF ?3 bg mg C]24:2

    V`e trmgamtjl frmserq nc ornwv` wnulf be+

    5'?% t'j' ornwv` mg wnrlf vrjfe mg vepvmleq jgf alnv`mgo crnk UQF 6?= bg mg A]

    2445 vn jrnugf UQF ?44 bg mg A] 24:2 (UQF 3?? bg mg A] 24::- '

    Mgfmj/q q`jre mg v`e eptnrv kjriev vn mgarejqe crnk aurregv 6% vn jrnugf ?% b}

    C] 24:2'

    Q`jre nc alnv`mgo mg Mgfmj/q eptnrv bjqiev vn mgarejqe vn 34% b} C] 24:2 crnk

    60% mg C] 2443'

    Fnkeqvma `nuqe`nlf kjriev ornwv` vn be frmseg b} mgarejqe mg tegevrjvmng nc

    nrojgmqef revjml, cjsnurjble feknorjt`maq jgf rmqmgo angquktvmng # mganke

    leselq'

    Fnkeqvma gng+alnv`mgo angquktvmng ornwv` wnulf be frmseg b} rmqmgo uqjoe nc

    vea`gmajl vepvmleq, qturref b} mgfuqvrmjl ornwv`, jgf mgarejqef javmsmv} mg

    angqvruavmng nc reqmfegvmjl jgf ankkeramjl trntervmeq v`ereb} frmsmgo fekjgf cnr

    curgmq`mgo mvekq'

    Trnblekq jgf trnqteavq nc Mgfmjg alnv`mgo mgfuqvr}

    Mgfmj alnv`mgo cmrkq jre gnv olnbjll} anktevmvmse mg trnfuavmsmv} vea`gn nc kja`mge ter

    jttjrel cmrk jgf mgcrjqvruavure' @egae mv mq geaeqqjr} vn qee w`ma` jre jcceavmgo v`e

    ornwv` nc Mgfmj alnv`mgo mgfuqvr} jgf onsergkegv reknse v`eqe nbqvjaleq' V`e

    trnfuavmsmv} mq nge nc v`e ie} feverkmgjgvq nc anktmvuvmsegeqq'V`e trnfuavmsmv} lesel nc

    Mgfmj kjhnr crjokegv qeokegvq mq anktjref wmv` qnke nc v`e Jqmjg anktevmvnr jq q`nw

    v`e fjvj mgfmajveq v`jv Mgfmj trnfuavmsmv} mq ser} lnw jq anktjref vn a`mgj jgf Vjmwjg'

    V`mq lnw lesel nc trnfuavmsmv} anulf be fue vn tnnr vea`gnlno} qkjll tljgv qmxe jgf

    mgjfezujve mgcrjqvruavure'

    Mgfmajve v`jv a`mgj jgf Vjmwjg jgf @ng Ingo `jse j `mo`er gukber ter jttjrel

    mg anktjrmqng vn v`e Mgfmjg cmrkq' Qmkmljrl} v`e Mgfmjg cmrkq `jse v`e leqq mgseqvkegv ter

    kja`mge' Ter kja`mge mgseqvkegv mg Mgfmj mq vn be UQ&254 w`mle mv mq UQ& :544 mg a`mgj'

    Mv quooeqvq v`jv Mgfmj uqmgo lnw vea`gnlno} wmv` tnnr mgcrjqvruavure' Mg jffmvmng vn v`mq

    JTOAKQ, RJHJKTEV' ?

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    ALNV@Q MGFUQVR]

    Mgfmj alnv`mgo mgfuqvr} reqersef cnr qkjll qajle qeavnr vmll 2444' v`e Mgfmjg onsergkegv

    reanogmxe kjhnr angqvrjmgv jcceavef v`e ornwv` nc v`e alnv` mgfuqvr} wjq reqvrmavmng

    mgseqvkegvq b} ljroe fnkeqvma jgf cnremog anktjgmeq'

    V`e onsergkegv fe+reqersef v`e alnv`mgo mgfuqvr} crnk QQM Hjgujr} : 244: vn

    eganurjoe v`e eqvjblmq`kegv nc ljroe qajle ojrkegvq kjriev nterjvmngq' V`e gjvmngjl

    vepvmle tnlma} 2444 v`e mgmvmjvmseq mgalufmgo fe+reqersjvmngq vn omse mktevuq vn v`e

    mgfuqvr}' vn cjae vea`gnlnomajl jfsjgaekegv vea`gnlno} ut+orjfjvmng cugf qa`eke qvjrvef

    cnrk Jtrml : :=== jgf v`e onsergkegv `jq epvegfef jojmg v`e qa`eke v`e PMv` cmse }ejr

    tljg' Mg jffmvmng vn lnw trnfuavmsmv} jgf vea`gnlno} mgjfezujve mgcrjqvruavure `jq

    qeserel} jcceavef v`e eptnrvq nc anktjg} nge nc v`e wj} v`e onsergkegv `jq vrmef vn

    mktrnse v`e mgcrjqvruavure mq jttjrel tjriq cnr bnnqvmgo alnv`mgo eptnrvq

    Vepvmle qeavnr auvq bjai ng hnbq

    _mv` rutee jttreamjvmng jfserqel} jcceavmgo jttjrel eptnrv, v`e qeangf ljroeqv

    ektln}kegv oegerjvnr, v`e vepvmle qeavnr, w`ma` ektln}q 25 kmllmng wnrierq, `jq qvjrvef

    auvvmgo bjai ng hnbq jgf lj}mgo ncc wnrierq vn angvjmg anqvq'

    V`e vnvjl hnb lnqq cnr v`e vepvmle mgfuqvr} cnr v`mq }ejr vnua`ef cmse lji` jgf jbnuv 15,444

    hnbq `jse beeg lnqv mg Jtrml jlnge fue vn jg :0'25 ter aegv fealmge mg eptnrvq beajuqe nc

    q`jrt jttreamjvmng mg rutee, qj}q T F Tjvnfmj, A`jmrkjg, Angceferjvmng nc Mgfmjg

    Vepvmle Mgfuqvr}'Jaanrfmgo vn mgfuqvr} eqvmkjveq, vepvmleq eptnrvq `jse fealmgef b} 3'0 ter aegv furmgo v`e

    Jtrml+Kj} termnf nc 244?+40, w`mle anvvng }jrg `jq qeeg j geojvmse ornwv` nc ='= ter

    aegv' Mgfmjq vepvmle eptnrvq jknugvef vn &:= bmllmng ljqv }ejr jgf v`e vjroev cnr v`mq cmqajl

    wjq qev jv &25 bmllmng'

    _e `jse fekjgfef jg mgarejqe mg fuv} frjwbjai rjveq, refuavmng mg mgvereqv rjveq cnr tre

    jgf tnqv q`mtkegv arefmv jq well jq epektvmng crnk qersmae vjp' V`e eptnrv vjroev nc &25

    bmllmng qev cnr v`e aurregv cmqajl mq uglmiel} vn be ja`mesef wmv` v`mq ornwv`, Tjvnfmj jffq'

    Vepvmleq eptnrv rekjmgq qlnw mg Juouqv

    Eptnrv Mktnrv, Vrjfe # Kjriev

    Jcver q`nwmgo tnqmvmse ojmgq mg Hul}, vepvmle eptnrvq tuv ut jgnv`er tnnr tercnrkjgae mg

    v`e kngv` nc Juouqv w`eg eptnrv nc vepvmle trnfuavq fealmgef b} 5'55 teraegv jq

    anktjref vn v`e qjke kngv` ljqv }ejr'

    JTOAKQ, RJHJKTEV' 0

    http://www.muarateweh.net/2007/11/29/textile-sector-cuts-back-on-jobs/http://www.muarateweh.net/2007/09/21/textiles-export-remains-slow-in-august/http://www.muarateweh.net/category/export-import/http://www.muarateweh.net/category/trade-market/http://www.muarateweh.net/2007/11/29/textile-sector-cuts-back-on-jobs/http://www.muarateweh.net/2007/09/21/textiles-export-remains-slow-in-august/http://www.muarateweh.net/category/export-import/http://www.muarateweh.net/category/trade-market/
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    ALNV@Q MGFUQVR]

    Vepvmle eptnrvq fmttef vn &=10'613 kmllmng mg Juouqv 244? jojmgqv &==4'3:2 kmllmng mg

    anrreqtngfmgo kngv` nc ljqv }ejr w`erejq v`e eptnrv tercnrkjgae nc vepvmle trnfuavq mq

    fmqkjl w`eg anktjref vn kngv` nc Hul} 244? jq mv cell b} jlknqv cmse teraegv'

    Furmgo v`e Hul}+Juouqv termnf nc aurregv cmgjgamjl }ejr, vepvmle eptnrvq reomqveref j

    kjromgjl mgarejqe nc :':0 teraegv anktjref vn anrreqtngfmgo termnf nc ljqv }ejr' V`e

    gnkmgjl mgarejqe mg eptnrvq furmgo v`e kngv` wjq fue vn 0'6? teraegv mgarejqe mg vepvmle

    eptnrvq furmgo v`e kngv` nc Hul}'

    Alnv` mgfuqvr} ornwv` `mo` eptnrv snluke

    V`e wneq nc v`e Mgfmjg vepvmle mgfuqvr} ajuqef b} cjqv ernfmgo anktevmvmsegeqq mg v`e cjae

    nc j rjtmfl} jttreamjvmgo rutee `jse reja`ef v`e Trmke Kmgmqver w`n `jq retnrvefl}

    jqquref jttrntrmjve kejqureq vn reserqe v`e fealmge jgf egqure v`e mgfuqvr} quqvjmgef

    ornwv`'

    Jttrmqmgo Fr Kjgkn`jg Qmgo` nc v`e bjqma cejvure nc v`e mgfuqvr} lnw mktnrv

    mgvegqmv} jgf `mo` eptnrv snlukeq j feleojvmng `ejfef b} Kr T'F' Tjvnfmj,

    A`jmrkjg, Angceferjvmng nc Mgfmjg Vepvmle Mgfuqvr}, qnuo`v jfezujve cmqajl jgf nv`er

    relmec vn qjse v`e mgfuqvr} crnk v`e v`rejv nc qmaigeqq'

    V`e quooeqvmngq kjfe cnr q`nrv+verk relmec mgalufe recugf nc jll lnajl lesmeq (Qvjve jgf

    kugmamtjl- jknugvmgo vn 3 ter aegv ng jll eptnrvq nc vepvmleq jgf alnv`mgo trnfuavq9 tre+jgf tnqv+q`mtkegv arefmv vn be kjfe jsjmljble jv j cljv rjve nc 3 ter aegv9 wmv`frjwjl nc

    qersmae vjp jttlmajble vn jll eptnrv reljvef javmsmvmeq9 jgf knrjvnrmuk nc nge }ejr ng v`e

    revurg nc trmgamtjl lnjg jknugv'

    Mv mq well ignwg v`jv v`e vepvmleq jgf alnv`mgo mgfuqvr} mq ljbnur+mgvegqmse jgf ektln}q j

    ljroe gukber nc qimllef jgf ugqimllef wnrierq'

    V`e lmce a}ale nc alnv`mgoUqef, ugbejrjble alnv`mgo wjq ngae uqef cnrzumlvq, rjo, ruoq,bjgfjoeq, jgf kjg} nv`er

    `nuqe`nlf uqeq' Mv anulf jlqn be rea}alef mgvn tjter' Gnw mv mq uqujll} v`rnwg jwj}' Uqef

    buv qvmll wejrjble alnv`mgo ajg be qnlf jv angqmogkegv q`ntq, Freqq Joegameq, clej

    kjrievq, nglmge juavmng, nr fngjvef vn a`jrmv}'

    JTOAKQ, RJHJKTEV' =

    http://www.muarateweh.net/2007/11/29/textile-industry-growth-high-export-volume/http://en.wikipedia.org/wiki/Quilthttp://en.wikipedia.org/wiki/Raghttp://en.wikipedia.org/wiki/Rughttp://en.wikipedia.org/wiki/Bandagehttp://en.wikipedia.org/wiki/Paperhttp://en.wikipedia.org/wiki/Consignment_shophttp://en.wikipedia.org/wiki/Dress_Agencyhttp://en.wikipedia.org/wiki/Flea_markethttp://en.wikipedia.org/wiki/Flea_markethttp://en.wikipedia.org/wiki/Online_auctionhttp://www.muarateweh.net/2007/11/29/textile-industry-growth-high-export-volume/http://en.wikipedia.org/wiki/Quilthttp://en.wikipedia.org/wiki/Raghttp://en.wikipedia.org/wiki/Rughttp://en.wikipedia.org/wiki/Bandagehttp://en.wikipedia.org/wiki/Paperhttp://en.wikipedia.org/wiki/Consignment_shophttp://en.wikipedia.org/wiki/Dress_Agencyhttp://en.wikipedia.org/wiki/Flea_markethttp://en.wikipedia.org/wiki/Flea_markethttp://en.wikipedia.org/wiki/Online_auction
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    ALNV@Q MGFUQVR]

    V`ere jre kjg} angaergq jbnuv v`e lmce a}ale nc q}gv`evmaq w`ma` anke trmkjrml} crnk

    tevrna`ekmajlq' Uglmie gjvurjl cmberq, v`emr qnurae mq gnv regewjble (mg leqq v`jg kmllmngq

    nc }ejrq- jgf v`e} jre gnv bmnfeorjfjble'

    Mgfuqvr} A`jllegoeq

    V`e Jttjrel Mgfuqvr} mq ornwmgo jv j ser} `mo` rjve buv qvmll v`ere jre qnke bjrrmerq,

    w`ma` jre `mgfermgo v`e ornwv` nc v`mq mgfuqvr}' Qnke nc v`ek jre8

    V`nuo` v`e fekjgf cnr ojrkegvq mq mgarejqmgo fj} b} fj} buv v`e trnfuavmng rjve

    `jq qvmll gnv beeg jble vn kjva` wmv` v`e eser rmqmgo fekjgf' Knre trnfuavmng

    cjamlmvmeq jre geefef vn keev v`e fekjgf'

    Knqv nc v`e rjw kjvermjl geefef cnr jttjrel kjgucjavurmgo mq jsjmljble mg v`e

    feselntmgo nr ugfer feselntef anugvrmeq jgf v`eqe anugvrmeq fn gnv `jse egnuo`reqnuraeq jgf kjgtnwer vn eptlnre v`ek' V`eqe anugvrmeq jlqn fn gnv `jse

    cmgjgae vn qev ut cjavnrmeq cnr alnv`mgo jgf ojrkegv trnfuavmng'

    Olnbjlmxjvmng `jq `eltef v`e vrjfe mg kjg} wj}q buv fue vn olnbjlmxjvmng v`e

    anktevmvmng `jq mgarejqef jgf qn mv mq gnv ser} ejq} cnr v`e cmrkq vn ante ut wmv`

    qn kua` anktevmvmng, jq v`e} `jse vn keev v`e fejflmgeq jgf jlqn kjmgvjmg

    zujlmv}'

    V`e mktnrverq nc feselntef eangnkmeq jre cjamgo ser} qvmcc anktevmvmng jq

    anugvrmeq lmie A`mgj jre trnfuamgo onnf zujlmv} trnfuavq mg lnw trmaeq fue vn

    jsjmljbmlmv} nc ser} a`ejt ljbnrq'

    Qnke vrjfe ljwq qvmll jre ser} kua` mg cjsnr nc feselntef anugvrmeq jgf v`e} geef

    vn be resmewef, vn cjamlmvjve mktnrvq crnk v`e feselntmgo anugvrmeq'

    Jq jttjrel mgfuqvr} mq cjq`mng frmseg, jgf cjq`mng ieetq a`jgomgo, v`e cmrkq `jse

    vn ante wmv` v`e a`jgomgo jttjrel mgfuqvr} vregfq jgf qvmll anktleve nrferq mg

    vmke' V`uq v`e} uqujll} `jse vn wnri ugfer treqqure'

    Cuvure Trnqteavq

    V`e olnbjl jttjrel kjgucjavurmgo mgfuqvr} mq epteavef vn ornw knre v`jg eser mg

    vmkeq vn anke' Jaanrfmgo vn jg eqvmkjve, v`e olnbjl jttjrel mgfuqvr} wmll reja` j sjlue nc

    UQ & :,?0:'? bmllmng b} v`e egf nc 24:4' V`e jttjrel kjgucjavurerq jre gnw jfntvmgo

    gew vea`gmzueq vn mgarejqe v`emr vrjfe' Gew buqmgeqq knfelq jgf anktevmvmse qvrjveomeq

    JTOAKQ, RJHJKTEV' :4

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    ALNV@Q MGFUQVR]

    jre uqef vn eg`jgae trncmvq jgf ornwv`' V`e angquker mq knre jwjre jgf knre

    fekjgfmgo wmv` v`e feselntkegv nc kefmj lmie velesmqmng jgf Mgvergev' V`e} `jse knre

    a`nmaeq mg zujlmv}, trmae jgf feqmog' V`mq mq v`e rejqng w`} jttjrel a`jmgq jll nser v`e

    wnrlf jre cnauqmgo knre ng mktrnsmgo v`e zujlmv} nc v`e trnfuav jgf nccermgo mg sjrmef

    rjgoe nc cjq`mng feqmogq' Jttjrel kjgucjavurerq jre feselntmgo kev`nfq vn ieet ut wmv`

    v`e tjae nc a`jgoe lmie nccermgo ng w`nleqjle trmaeq vn qursmse mg v`e olnbjl anktevmvmng'

    V`e egf nc zunvjq mg v`e vepvmleq jgf alnv`mgo mgfuqvr} begecmvq ljroe Jqmjg

    trnfuaerq' ]ev nv`er anugvrmeq jlqn `jse j qvjie mg v`e buqmgeqq' V`e qeavnr tlj}q j kjhnr

    eangnkma rnle mg kjg} lejqv feselntef anugvrmeq, eqteamjll} mg Jcrmaj, jgf mg nv`er qkjll,

    sulgerjble anugvrmeq' Vn jsnmf lnqmgo mktnrvjgv buqmgeqq, v`emr cmrkq geef vn eptlnmv fuv}+

    cree jfsjgvjoeq vn v`e cull, fmserqmc} trnfuavq jgf eptjgf v`emr quttl} a`jmgq'

    _VN kekberq jbnlmq`ef zunvjq ng vrjfe mg vepvmleq jgf alnv`mgo ng : Hjgujr}2445' Jq j requlv, trmaeq jre cjllmgo jgf kjhnr _eqverg bu}erq jre gjrrnwmgo v`emr

    qnuraeq' Ng j olnbjl qajle, ljroe Jqmjg anugvrmeq wmv` servmajll} mgveorjvef mgfuqvrmeq jre

    beankmgo v`e wnrlfq lejfmgo quttlmerq' A`mgj mg tjrvmauljr ajg trnfuae smrvujll} jg}

    vepvmle nr alnv`mgo mvek jv jg} zujlmv} jgf anqv'

    _mv mg quttlmer anugvrmeq, v`ere jre qmogq nc mgfuqvr} angqnlmfjvmng' Ljroer

    anktjgmeq jre mgarejqmgo trnfuavmng ajtjamv}, ncveg ng v`e jfsmae nc v`emr kjhnr

    auqvnkerq' Qkjll jgf kefmuk+qmxef cmrkq (QKEq-, ng v`e nv`er `jgf, cjae j q`nrvjoe nc

    nrferq jgf qnke `jse jlrejf} alnqef fnwg'

    Mv mq gnv alejr w`jv wmll `jtteg mg kjg} lejqv feselntef anugvrmeq (LFAq- jgf

    qkjll, sulgerjble anugvrmeq, wmv v`emr lnw+sjlue trnfuavq, crjokegvef mgfuqvrmeq

    requlvmgo crnk tjqv relmjgae ng zunvj trnveavmng jgf lmvvle reomngjl annterjvmng' Qmgae

    vepvmleq jgf alnv`mgo jaanugv cnr j `mo` trntnrvmng nc kera`jgfmqe eptnrvq jgf hnbq cnr

    epjktle, 02% nc kera`jgfmqe eptnrvq mg Ajkbnfmj jgf 01% mg @jmvm jgf Leqnv`n mv

    kejgq a`jgomgo v`emr qvrjveomeq vn tresegv qermnuq eangnkma angqezuegaeq'

    Alnv`mgo Mgfuqvr} Eangnkma Feselntkegv

    :- Qjleq

    Bjqef ng 2443 requlvq, v`e qjleq mg aurregv trmaeq mg v`e vepvmle jgf alnv`mgo

    mgfuqvr} `jse ja`mesef jbnuv AXI 56'? bmllmng, nc w`ma` jttrnpmkjvel}

    AXI 65 bmllmng mg v`e vepvmle qeavnr jgf AXI ='? bmllmng mg v`e alnv`mgo

    JTOAKQ, RJHJKTEV' ::

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    ALNV@Q MGFUQVR]

    mgfuqvr}' V`mq anrreqtngfq vn v`e fearejqe mg 1'? %' mg VAM qjleq mg

    anktjrmqng wmv` 2445 requlvq' Mg v`mq fealmge v`e vepvmle mgfuqvr} `jq gnv

    tjrvmamtjvef, jq mv `jq eptermegaef qjleq mgarejqe mg 4'? %'

    2- Ektln}kegv

    Mg ljve 2443, v`e ektln}kegv mg v`e VAM `jq re j a ` e f qnke 34 v`nuqjgf hnbq lesel

    (anktjgmeq wmv` j gukber nc qvjcc orejver v`jg 24 `jse beeg mgalufef ngl}-, w`ma`

    retreqegvq j fearejqe mg knre v`jg ='6 % mg anktjrmqng wmv` ljve 2445 fjvj' V`e gukber

    nc hnbq mg v`e vepvmle mgfuqvr} `jq frnttef vn v`e lmkmv nc 64 v`nuqjgf, w`ma` kejgq j cjll

    mg ?'2 %, mc anktjref wmv` 2445' Mg v`e alnv`mgo mgfuqvr} v`e gukber nc hnbq `jq frnttef

    vn v`e lmkmv nc 24 v`nuqjgf ektln}eeq, jgf, mv anrreqtngfq vn j fearejqe mg leqq v`jg :1'3

    %'

    1- _joe Vregf

    Jg jserjoe kngv`l} wjoe mg v`e w`nle VAM `jq reja`ef jttrnpmkjvel} AXI :2,044

    lesel, w`ma` retreqegvq jg mgarejqe mg 5'6 %, mc anktjref wmv` ljve 2445' Mg v`e vepvmle

    mgfuqvr} v`e wjoe `jq reja`ef jttrnpmkjvel} AXI :1,?44, w`ma` mq b} qnke AXI 2,?44

    knre v`jg mg v`e alnv`mgo mgfuqvr}'

    6- Ljbnur Trnfuavmsmv}

    V`e trnfuavmsmv} kejquref b} v`e qjleq snluke ter ektln}ee (mg angqvjgv trmaeq- `jqreja`ef qmogmcmajgvl} `mo`er sjlueq mg v`e vepvmle mgfuqvr} (jttrnpmkjvel} AXI :,244 ter

    ektln}ee ter }ejr- v`jg mg v`e alnv`mgo mgfuqvr} (jttrnpmkjvel} AXI 544 v`nuqjgf ter

    ektln}ee ter }ejr-' Mg v`e vepvmle qeavnr v`e trnfuavmsmv} `jq rmqeg qnke :4': %, w`mle mg

    v`e alnv`mgo qeavnr mv `jq fearejqef mg ?'= %' V`e vnvjl cnremog vrjfe bjljgae nc v`e VAM

    qeavnr mg 2443 `jq ja`mesef j qurtluq jknugvmgo vn knre v`jg AXI :': bmllmng, w`ma` mq

    :'5 % knre v`jg cnr v`e qjke termnf nc 2445' Mg 2443, vepvmle jrvmale eptnrvq jaanrfmgo vn

    QIT 2 retreqegvef jbnuv AXI 52 bmllmng, jgf, vepvmle jrvmale mktnrvq retreqegvef jbnuv

    AXI 6= bmllmng' Mg 2443, alnv`mgo jrvmale eptnrvq jaanrfmgo vn QIT 2 retreqegvef jbnuv

    AXI 26 bmllmng, jgf, alnv`mgo jrvmale mktnrvq retreqegvef jbnuv AXI 25'= bmllmng'

    Nserjll Jqqeqqkegv

    JTOAKQ, RJHJKTEV' :2

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    ALNV@Q MGFUQVR]

    Jq ter jbnse feqarmbef, vepvmle qeavnr qjleq mg 2443 `jse fnge bevver, mc anktjref wmv`

    mgmvmjl eqvmkjveq' B} angvrjqv, alnv`mgo qeavnr qjleq `jse fnge wnrqe, mc anktjref wmv`

    mgmvmjl eqvmkjveq' Alnv`mgo mgfuqvr} qjleq mgfep fearejqe (mg +24': %- `jq beeg omseg, mg

    tjrvmauljr, b} j `mo` 2445 receregae lesel, w`ere mv `jq gnv beeg (ut vn gnw- tnqqmble vn

    eptljmg b} jg}v`mgo v`e jknugv nc qjleq mg v`e :qv qekeqver nc 2445' Vn 2443 requlvq `jse

    feamqmsel} kjvveref v`e cnllnwmgo cjavnrq8

    + angcmrkjvmng nc qvjogjvmng nc mktnrvq crnk A`mgj, jq j requlv nc v`e Joreekegv nc

    Ugferqvjgfmgo jfntvef b} A`mgj jgf v`e EU mg Huge 2445 (snluke nc mktnrvq vn v`e EU

    `jq revurgef vn 2446 lesel- + rekjrijble ornwv` nc mktnrvq crnk nv`er Jqmjg anugvrmeq, mg

    tjrvmauljr, Mgfmj jgf Tjimqvjg, w`ma` `jq beeg, esmfegvl}, reljvef vn v`e treaefmgo cjavnr

    + bnv` v`eqe cjavnrq `jse q`nwg v`ekqelseq knre frjkjvmajll} mg v`e alnv`mgo qeavnr, jgf,

    vn j leqqer epvegv mg v`e vepvmle qeavnr'Jq j requlv, v`e vepvmle qeavnr `jq revjmgef eptnrverq tnqmvmng (vrjfe qurtluq-, w`mle v`e

    alnv mgo qeavnr `jq reanrfef j vrjfe fecmamv+ Axea` anktjgmeq `jse ojv`eref j reljvmsel}

    quccmamegv gukber nc nrferq, buv v`e trmae treqqure ajuqef b} A`mgj mg 2445 (jlv`nuo`

    mktnrvq fmf gnv vjie tljae ljver ng- `jq fearejqef qmogmcmajgvl} v`e eangnkma eccmamega} nc

    v`eqe nrferq+ mktnrvjgv qvregov`egmgo nc v`e Axea` arnwg jojmgqv EUR `jq lnweref, mg

    jffmvmng, v`e eangnkma eccmamega} nc v`e qeavnr'

    V`mq `jq beeg tjrvmjll} ncc qev b} v`e qjke vregf mg v`e epa`jgoe rjve nc v`e Axea` arnwg

    jojmgqv UQF + j qmogmcmajgv mktjav ng v`e qeavnr eangnk} `jq jlqn `jf v`e angvmgunuql}

    ornwmgo anqv nc tnwer egero} jgf ojq (mg v`e w`nle qeavnr mv `jq onv j wemo`v nc jbnuv :4

    % nc v`e vnvjl anqvq-'V`mq cjavnr mq oevvmgo vn be j trnpmkjve ajuqe nc trnfuavmng

    lmkmvjvmng jgf qvnttjoe mg v`e AR'

    Mv mq geaeqqjr} vn rejlmxe v`jv v`e ngl} tnqqmbmlmv}, `nw v`e vepvmle jgf alnv`mgo qeavnrq

    kmo`v ncc qev bnv` j cjqv ornwv` jgf angqmferjble anqv mvekq, mq vn refuae wjoeq (v`emr

    vnvjl jknugv-, jq gn nv`er mvek nc v`e ajlauljvmng cnrkulj omseq v`e vepvmle jgf alnv`mgo

    qeavnrq qua` j a`jgae + v`e jbnse qteamcmef cjavnrq `jse cnraef, mg tjrvmauljr, v`e vepvmle

    qeavnr vn ajrr} nuv jffmvmngjl jgf mktnrvjgv angqnlmfjvmng nc trnfuavmsmv} kejquref b}

    qjleq ter ektln}ee' Jg jqqnamjvef ecceav jaanktjg}mgo qua` j feselntkegv `jq beeg,

    `nweser, jg mktnrvjgv refuavmng mg v`e gukber nc hnbq' Ng v`e angvrjr}, gnr j qmogmcmajgv

    JTOAKQ, RJHJKTEV' :1

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    ALNV@Q MGFUQVR]

    refuavmng mg v`e gukber nc hnbq mg v`e alnv`mgo qeavnr (+:1'3 %- `jq tresegvef crnk v`e

    fearejqe mg mvq trnfuavmsmv} (+?'= %-'

    Alnv`mgo mgfuqvr} mg Mgfmj8

    V`e vepvmle mgfuqvr} mg Mgfmj (mgalufmgo v`e ojrkegv mgfuqvr}- mq smvjl vn v`e eangnk} nc

    v`e anugvr}' Mv angvrmbuveq vn nser 3 ter aegv nc v`e ornqq fnkeqvma trnfuav nc Mgfmj jgf

    ejrgq :0 ter aegv nc v`e vnvjl cnremog epa`jgoe ejrgmgoq nc v`e anugvr}'

    V`e vepvmle mgfuqvr} angqmqvq nc v`ree fmqvmgav qeavnrq, smx, qtmggmgo, wejsmgo jgf

    trnaeqqmgo' V`e mgfuqvr} mq v`e ljroeqv ektln}er gepv ngl} vn jormaulvure w`ma` mq v`ekjmgqvj} nc v`e eangnk}' Nser 54 ter aegv nc v`e ektln}eeq jre wnkeg w`n `elt vn

    quqvjmg v`e cjkml} mganke' V`e ojrkegv mgfuqvr} jlnge ektln}q cnur kmllmng wnrierq jgf

    `eltq vn quttnrv ljbnur wnrimgo mg jgamlljr} kjgucjavurmgo buvvngq, xmtterq, qewmgo

    v`rejf, ekbrnmfer} v`rejf, kevjl qvufq, tnl}bjqma, ajrvngq, ajrfbnjrf q`eevq, eva'

    V`e anugvr} cnllnwq ser} qvrmav ljbnr ljwq w`ma` onserg mgver jlmj qjcev}, lmo`vmgo,

    wnrimgo angfmvmngq, joe jv egvr}, jgf reqvrmavmng ng qvnrjoe vn tresegv cmre `jxjrfq,

    eknlukegvq, jgf welcjre qersmaeq, qutersmqef b} eser+smomljgv ljbnr nccmaerq nc v`e qvjve

    onsergkegvq'

    V`e anugvr} `jq v`e ljroeqv jarejoe ugfer anvvng mg v`e wnrlf buv mq jlknqv vnvjll}

    fetegfegv ng kngqnng, }melfmgo j tnnr 140 ioq.`eavjre' V`e anugvr} `jq j well+

    feselntef vepvmle mgfuqvr} nc anvvng jq well jq q}gv`evma cmberq.}jrg quttnrvef b} qmli,

    wnnl jgf huve'

    V`e vepvmle mgfuqvr} mq fmserqmcmef wmv` jg ugnrojgmxef qeavnr mgver+kmgolef, wmv` v`e

    nrojgmxef qeavnr'

    V`e nrojgmxef kmll qeavnr nc v`e vepvmle mgfuqvr} (epalufmgo ojrkegvq- w`ma` mq nser jaegvur} nlf mq aurregvl} j feamkjvef lnv wmv` v`e buli nc v`e trnfuavmng nc cjbrmaq `jsmgo

    beeg vjieg nser b} v`e tnwer lnnk qeavnr w`ma` tura`jqeq }jrg crnk qtmggerq' Eja` ugmv

    nc v`e nrojgmxef anvvng kmll qeavnr angqmqvq nc fetjrvkegvq rjgomgo crnk v`e ntegmgo jgf

    kmpmgo nc anvvng, ugvn qtmggmgo nc }jrg w`ma` mq qubqezuegvl} reelef mgvn ljroer tjaijoeq

    JTOAKQ, RJHJKTEV' :6

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    ALNV@Q MGFUQVR]

    tretjrjvnr} vn v`e wejsmgo nc ore} cjbrma cnr curv`er trnaeqqmgo mg mvq trnaeqqmgo qeavmng

    cnr cmgjl cmgmq`mgo' Vepvmle trnfuavmng nc cjbrmaq ng `jgf+nterjvef lnnkq kjieq j

    qmogmcmajgv angvrmbuvmng vn cjbrma trnfuavmng' V`e mgfuqvr} trnfuaeq 62,444 kmllmng qzujre

    keverq nc cjbrmaq, nc jll cmberq, ter jgguk'

    _`mle v`e qtmggmgo qeavnr mq ser} well+nrojgmxef trnfuamgo }jrg jq anjrqe jq 3q vn jq

    qutercmge jq :34q, bnv` mg qmgoleq jgf kulvmtleq, v`e wejsmgo qeavnr, eqteamjll} v`e tnwer

    lnnk qeavnr `jq angqmferjble leewj} vn kjie onnf wmv` ut orjfjvmng mg vea`gnlno}' Eseg

    jq nc vnfj}, v`e tnwer lnnk qeavnr mq ieegl} mgvereqvef mg qevvmgo ut juvnkjvma jmr+

    hev.wjver+hev lnnkq w`ma` jre nc smgvjoe sjrmev} wmv` j bjljgae lmce+qtjg nc :4 vn :5 }ejrq'

    Ng v`e nv`er `jgf, v`e nrojgmxef kmll qeavnr mq ieeg vn ieet mg vnua` wmv` v`e ljveqv

    vea`gnlno}' Mv mq aurregvl} tjqqmgo v`rnuo` j t`jqe nc re`jbmlmvjvmng tjrvl} crnk mvq nwg

    reqnuraeq jgf tjrvl} wmv` v`e `elt nc cmgjgaeq kjfe jsjmljble b} onsergkegv jgf v`rnuo`tublma mgseqvkegv'

    V`e trnaeqqmgo qeavnr mq v`e wejieqv lmgi mg v`e a`jmg nc v`e vepvmle mgfuqvr}' V`mq qeavnr

    vnn `jq jg nrojgmxef jq well jq ugnrojgmxef qeavnr' _`mle v`e ugnrojgmxef qeavnr

    angaegvrjveq ngl} ng aervjmg trnaeqqeq, v`e nrojgmxef qeavnr angaergq mvqelc wm` v`e

    trnaeqqmgo nc cjbrma crnk v`e ore} qvjoe ugvn mvq cmgmq`ef qvjve' Mv kj} be gnvef v`jv v`mq

    nrojgmxef qeavnr mq mgfetegfegv nc v`e qeavnr mgqvjllef b} v`e nrojgmxef kmll mgfuqvr}'

    V`mq qeavnr angaergq mvqelc ngl} wmv` trnaeqqmgo nc cjbrma (crnk qvjrv vn cmgmq`-'

    Eptnrvq

    Eptnrvq nc vepvmleq (mgalufmgo ojrkegvq- crnk Mgfmj jre wnrv` jrnugf UQ &:6 bmllmng nc

    w`ma` v`e q`jre nc ojrkegvq mq alnqe vn UQ&' 3'5 bmllmng' V`e anugvr} mq jmkmgo jv jg

    epa`jgoe ejrgmgo nc &'54 bmllmng b} 24:4' Jv v`e aurregv rjve, v`e anugvr} bmfq cjmr vn

    reja` v`e vjroev' J breji+ut nc eptnrv ejrgmgoq cnr sjrmnuq jrkq nc v`e vepvmle mgfuqvr} mq

    omseg belnw8

    Ter ajtmvj jsjmljbmlmv}

    Cnr tentle nc j anugvr} nc v`e qmxe nc Mgfmj, v`e ter ajtmvj angquktvmng nc ojrkegvq,

    eseg jcver jaanugvmgo cnr ev`gma ojrkegvq angquktvmng mq bjrel} 3 tmeaeq ter jgguk

    w`erejq mg anugvrmeq lmie UQ (kua` qkjller mg tntuljvmng v`jg Mgfmj-, mv mq alnqe vn :44

    tmeaeq ter }ejr'

    Recnrkq jgf v`e cuvure

    JTOAKQ, RJHJKTEV' :5

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    ALNV@Q MGFUQVR]

    V`e Mgfmjg vepvmle mgfuqvr} (mgalufmgo ojrkegvq- mq huqv ekeromgo crnk v`e q`jfnwq nc j

    febmlmvjvmgo zunvj q}qvek, j q}qvek w`ma` ngl} qiewef trnfuavmng cnr jq lngo jq veg

    }ejrq wmv`nuv jg} rewjrf mg revurg'

    Onsergkegv nc Mgfmj mq onmgo cull qvejk ng eangnkma recnrkq' Vn beomg wmv`,

    onsergkegv `jq qvejfml} rjmqef v`e aemlmgo cnr mgseqvkegv mg tljgv jgf kja`mger} nc j

    ugmv crnk Rq : anre (m'e' UQ &4'21 kmllmng- vn Rq 6 arnre (m'e' UQ&' 4'=: kmllmng- cnr v`e

    ugmv vn be angqmferef jq j ugmv mg v`e qkjll+qajle qeavnr' Mgqncjr jq ojrkegvq jre

    angaergef v`e onsergkegv, rejlmxmgo mvq tnvegvmjl, `jq reknsef bnv` v`e wnseg jgf

    igmvvef qeavnrq crnk v`e lmkmvq cmpef cnr v`e qkjll+qajle qeavnr' V`mq `jq requlvef mg

    mgseqvkegvq clnwmgo mgvn v`mq qeavnr' Eptjgqmngq nc ugmvq b} jffmgo vn ajtjamv} nr b}

    keroerq jre mg cull qwmgo'

    Jkjlojkjvmngq jre v`e nrfer nc v`e fj} mg v`e wnseg ojrkegv qeavnr' Bjaiwjrf jgfcnrwjrf mgveorjvmngq mg v`e qtmggmgo jgf igmvvef ojrkegv qeavnrq jre mg esmfegae, bnv`

    wmv` v`e nbheav nc egqurmgo j qvejf} quttl} nc mgtuvq jq well jq vn jff sjlue'

    Cnremog Fmreav Mgseqvkegv (CFM- `jq beeg terkmvvef mg v`e ojrkegv qeavnr mg v`e q`jte

    nc hnmgv segvureq' CFM mg revjml mq jlknqv ng v`e ajrfq buv, cnr v`e treqegv, v`e crjga`mqe

    rnuve mq cjsnref'

    Eangnkma recnrkq `jse mgarejqef v`e qtegfmgo tnwer nc v`e kmffle+mganke ornut

    w`ma` mq ornwmgo bmooer b} v`e fj}' Angqezuegvl}, tura`jqmgo tnwer mq ng j `mo` wmv`

    kjllq, fetjrvkegv qvnreq, fmqanugv qvnreq, jll qtrmgomgo ut mg sjrmnuq tjrvq nc v`e

    anugvr}'

    V`e angquker vnfj} fekjgfq sjlue cnr knge}' Zujlmv} mq nc trmke mktnrvjgae jgf v`e

    angquker mq tretjref vn tj} j trmae cnr mv'

    Onsergkegv `jq beeg fmseqvmgo nc mvq reqnuraeq qugi mgvn sjrmnuq qvjve+nwgef

    anktjgmeq jgf uvmlmxmgo v`e relejqef reqnuraeq vn mktrnse mgcrjqvruavure, recnrk rurjl

    eangnk}, ugfervjie eleavrmcmajvmng nc smlljoeq, trnsmfe alejg frmgimgo wjver vn rurjl

    cnli jgf oegerjll} utlmcv v`e rurjl eangnk} jgf rurjl jormaulvure' Angqmfermgo v`e cjav

    v`jv jlknqv 34 ter aegv nc Mgfmjq tntuljvmng lmseq mg v`e smlljoeq, v`mq gew+cnugf v`ruqv

    wmll oegerjve j fekjgf cnr onnfq ng j qajle w`ma` ajggnv be cjv`nkef' Mgfuqvr} `jq vn

    knse mg q}g vn keev v`mq ornwmgo fekjgf'

    JTOAKQ, RJHJKTEV' :3

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    ALNV@Q MGFUQVR]

    Jqqevq

    Alnv`

    Rq' Arnre (Gng+Jggujlmqef- Kjr+41 Kjr+46 Kjr+45 Kjr+43 Kjr+4? Kjr+4

    Ornqq cmpef jqqevq :::4='66 ::120'43 ::=31'=1 :6152'5= :04:='6: 2::12'5

    Ljgf # bumlfmgo 2:5='46 243?'36 2263'15 2?14'40 16?4'15 6:45'=

    Tljgv # kja`mger} 0236'63 0561'1= 0=12'5= =04?'36 :::1?'?2 :1404'0

    Vrjgqtnrv # ankk' ezumtkegv.mgcrjqvruavure 31'52 ?4'== 0:'4: =5'25 ==':? :45'?

    Curgmvure,jkegmvmeq # nv`er cmpef jqqevq :52'3: :5?'0 :36'=3 :02'6= 214'40 20='1

    Ajtmvjl wnri+mg+trnoreqq 662'20 632'?0 5=2'5? :6=4'65 2540'4= 2041'2

    Mgvjgomble jqqevq ='60 ='15 :1'=0 14'26 135'62 665'2

    Gev tre+nterjvmse eptegqeq tegfmgo jllnajvmng 1':: ::'30 ::':1 :5'52 20:':0 12:

    Gev lejqe reqerse jfhuqvkegv +4'43 4 4 4 4

    Leqq8 Aukuljvmse fetreamjvmng 611='5? 6??3'2? 6=?2'2= 5202'?3 51:?':1 511:'2

    Leqq8 Jrrejrq nc fetreamjvmng :6'?1 :?'5 :6':= 5'62 5'?2 3'2

    Gev cmpef jqqevq 3?55'40 3516'2= 3=??'65 =436'6: :23=3'53 :5?=5'4

    Mgseqvkegvq :1?6'31 1=?='1 10=6'6: 64=0 6:0?'4: :5?1'5

    Ezumv} q`jreq :4:0'1: :4?=':3 :40='43 :206'25 :435'36 ??3'5

    Treceregae q`jreq ='50 ='11 :1'5= :6'?1 6='?0 =3'1

    Kuvujl cugfq 265'0? 146':1 :=0'6= 0='15 251'22 04

    Febv mgqvrukegvq 56'?: ?0'3 ?5'6: :?6'06 :21'22 :20':

    Jttrnsef qeaurmveq (qlr.qvjvuvnr} rez'- 4 4 4 4 4

    Jqqmqvef anktjgmeq 4 4 4 4 4

    Nv`erq 31'00 25?5'3 2505'=6 2313'5= 204='62 313'3

    Leqq8 Trnsmqmng cnr fmkugmvmng mg sjlue nc mgseqvkegvq :?'?2 3?'52 30'40 :4:'?3 ::6'2? :65'4

    Ornut anktjgmeq :413'3? :::?'=6 ::2='51 :166'?3 ::60'62 035'6

    Gng+ornut anktjgmeq 2=:'?: 151'22 263'=3 2:0'15 161'10 2:3'6

    Kjriev sjlue nc zunvef mgseqvkegvq 60'0 55'== :11'23 :==':1 :01'25 :26'3

    Fecerref vjp jqqevq :1='65 150'11 5='42 ?5'55 05'?? :=?'6

    Aurregv jqqevq =651'5= 0011'56 ::416'2 :6?44'30 :5012'25 :1144':

    Ajq` # bjgi bjljgae 6=?'26 5=4'1 :41?'2 2==:'43 11?2'02 2260'1

    Mgsegvnrmeq 2506'1? 250:':0 1436'4? 1131'6= 1013'3 61:3

    Reaemsjbleq 3230'4: 5550'55 3013'=1 0:00'? 0621'52 3663'6

    JTOAKQ, RJHJKTEV' :?

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    ALNV@Q MGFUQVR]

    Eptegqeq tjmf mg jfsjgae :41'=? :41'5: =3 :5?'61 :=='1: 200'?

    Lnjgq # jfsjgaeq 4 4 4 4 4

    Fecerref resegue eptegfmvure :5='6? ::3'?1 0='6: 56'?0 ::6'66 60'4

    Vnvjl jqqevq 26:5?'=0 26553'1? 2?130'? 1:36='02 136=?'02 1:50='6

    Gn nc anktjgmeq :14 :63 :63 :16 ::1 =

    Lmjbmlmvmeq

    Alnv`

    Rq' Arnre (Gng+Jggujlmqef- Kjr+41 Kjr+46 Kjr+45 Kjr+43 Kjr+4? Kj

    Gev _nrv` +1061'35 603':: 651'?1 :05?'30 ?016'0: 30?

    Juv`nrmqef ajtmvjl 1303'3: 6450'4? 6:62'4= 6253':2 6:43'16 1?3

    Mqquef ezumv} ajtmvjl 2364'46 2=2='0: 2==1'2: 14=0'4= 20=5'2? 262

    Tjmf ut ezumv} ajtmvjl (gev nc cnrcemvef ajtmvjl- 2324'06 2=4='6? 2=?0':: 1401'3 203=':2 26:

    Tjmf ut treceregae ajtmvjl (gev nc cnrcemvef ajtmvjl- 264'?= 1:?'=0 560':= 50='?2 340'3 50

    Ajtmvjl angvmbuvmng, quqtegqe jgf jttlmajvmng knge} ::2'?3 642=':2 1=?5'?2 64?3'=5 12=:'36 2:

    Reqerseq # qurtluq +3024'45 +3??2'03 +?454'? +50=6'4= :431'=5 13

    Cree Reqerseq 12=2'53 1511':? 62:4'5? 5423'1= 5015'02 33

    Qeaurmv} trekmuk reqerseq (Gev nc fefuavmngq- :??4'26 :?35'3? 2:::'=: 2600'0: 2004': 12

    Nv`er cree reqerseq :522'12 :?3?'5 24=0'33 251?'50 2=55'?2 11

    Qteamcma reqerseq 103'45 161'1= 166'20 1=='61 1=2'33 66

    Resjlujvmng reqerseq 2?3'=1 :03'55 :?5'6: 2:3'=: :22'?1 :6

    Leqq Jaaukuljvef lnqqeq :4??5'5= :4015'=? ::?04'=3 ::513'02 520?'23 150

    Vnvjl bnrrnwmgoq :0123'?3 :36?4'56 :0534'65 24?44'1= 24=21'== :=?6

    Bjgi bnrrnwmgoq 6=65'46 5226'=0 3421':5 ?550'55 :4151'23 :153

    Q`nrv verk bjgi bnrrnwmgoq 1420'61 14??'6: 12:='56 1252'30 640:'13 65=

    Lngo verk bjgi bnrrnwmgoq :=:3'3: 2:6?'5? 2041'3: 6145'0? 32?:'= 0=?

    Cmgjgamjl mgqvmvuvmngjl bnrrnwmgoq 2441'56 :006'0: ::0:'26 :4=='5= ::10'51 :22

    Aegvrjl # qvjve onsv' (uqujll} qjleq vjp fecerrjlq- 5:=0'00 12?5'2: 16:3'5: 1?4='25 135:'21 2

    Febegvureq . bngfq 564'?2 564'0? 602'32 553':? 635'35 :4?

    Angservmble 15'00 62'52 20'42 25':0 63':0 2

    Gng+angservmble 542':1 6=5'41 65:'20 52='=1 64:'10 01

    Cmpef fetnqmvq ?3'0= 01 33'?: 55'=0 11'4: 2

    Cnremog bnrrnwmgoq 32'4: ?2'1= 54?':? 333'6= :466':: :3

    Bnrrnwmgoq crnk anrtnrjve bnfmeq 13=?'?? 1141'55 1306'30 1?6='1= 32:'62 64

    Ornut . jqqnamjve anq' 155='50 1:43'?1 15:1'5: 155:'= 663 :0

    Bnrrnwmgoq crnk trnknverq . fmreavnrq :6='3= :23'=: 35'31 01'=1 55'50 3

    Fecerref arefmv ?'=5 0'25 :4':= 0'=6 51'6?

    Nv`er bnrrnwmgoq :5?='=? :005'1? 14=1'53 1:?0':: 16:?'02 :6:

    Qeauref bnrrnwmgoq ?252'26 ?:?4'40 011:'3: :4415'=1 :26?5'42 :312

    Ugqeauref bnrrnwmgoq ::4?6'52 =144'63 :4220'06 :4336'63 0660'=? 16:

    Aurregv tnrvmng nc lngo verk febv 3:?'36 =:0'0 ::11'0: :6::'65 065'2? ?3

    Aurregv lmjbmlmvmeq # trnsmqmngq =621'0= ?4?3'=? 04?5'13 0?25'16 ?2==':0 61

    Qugfr} arefmvnrq 2263'=? 2432'?2 :06?'21 :03='?? 243='?0 2:0Jaaetvjgaeq :55'0? 35'0? 63'3= :25'5 :11'00 2:

    Fetnqmvq # jfsjgaeq crnk auqvnkerq jgf ektln}eeq =0'10 :53'15 :=='3: 211'6? 2:6'?0 :3

    Mgvereqv jaaruef 343?'50 1=??'13 5:?1'=? 53:3'51 6::6'61 =2

    Q`jre jttlmajvmng knge} :'51 4'15 ?'=1 4'2 4'50

    Nv`er aurregv lmjbmlmvmeq 1?4'5: 15='16 113'40 1?4'50 13:'?2 20

    Trnsmqmngq 601'45 656'=0 631'05 54='2= 646'4: 55

    Fecerref vjp lmjbmlmv} 254'=0 522'?5 2?=':3 133'6: 61='06 31

    Vnvjl lmjbmlmvmeq 26:5?'=0 26553'1? 2?130'? 1:36='02 136=?'02 1:50

    JTOAKQ, RJHJKTEV' :0

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    ALNV@Q MGFUQVR]

    Gev _nrv` (gev nc resjl # FRE- +6204'45 :02'01 :00'=: :505'== ?5=?'36 330

    Angvmgoegv lmjbmlmvmeq :306'1? 21:1':= 20=3'4= 235?'56 1145'1 1::

    Gn nc anktjgmeq :14 :63 :63 :16 ::1

    Trncmvq

    Alnv`

    Rq' Arnre (Gng+Jggujlmqef- Kjr+41 Kjr+46 Kjr+45 Kjr+43 Kjr+4? K

    TBV +:625':: 263'= +354'01 204'43 066'16 :

    Trnsmqmng cnr fmreav vjp ?3'13 ::2':6 ?2'1 222'13 216'2?

    Anrtnrjve vjp 26'41 1='30 54'63 ::='0= :12'5 2

    Fecerref vjp 53'= ??'?2 51'65 ::5'66 :23'50 2

    Leqq8 Fecerref vjp jqqevq . arefmv 6'33 5'12 1:'=0 24'55 16'25

    Nv`er fmreav vjpeq 4'4= 4'43 4'1? ?'50 ='66

    Crmgoe begecmvq vjp 4 4 4'22 ?'6? =':=

    TJV +:54:'6? :16'?3 +?21':1 5?'? 3:4'4? 0

    TJV (jq retnrvef b} v`e an'- +:16='1= 24'12 +0=6'35 2='55 5=3'== 0

    Trmnr termnf jgf epvrj+nrfmgjr} mganke 2?='60 644='0: 3=0'1= ?3='56 614'41 6

    Trmnr termnf jgf epvrj+nrfmgjr} eptegqeq 35'03 24:0'=2 :26'?3 ::6'=2 55'05

    Gev trmnr termnf jgf epvrj+nrfmgjr} mvekq +2:1'32 +:==4'0= +5?1'31 +356'32 +1?6':0 +1

    TBTFVJ gev nc T#E +0?3'26 +?=:'6= +630':3 625'61 :166'6? :0

    TBTV gev nc T#E +:5=0'06 +:525':3 +::6:'1= +160'16 605'? 0

    TBV gev nc T#E +:310'?1 +:?61'== +:226'63 +1?6'53 6?4':3 0

    TJV gev nc T#E +:?:5'4= +:053':1 +:2=3'?3 +5=3'=2 215'0= 5

    Fmqvrmbuvmng nc trncmvq TBTFVJ 4'4: 4'4: 4'4: 4'4: 4'4:

    Gng++trnsmqmngq cnr :6?'6? :?5'20 :::'66 :5='13 22?'53 6

    Fmkmguvmng mg mgseqvkegv 4 4'?3 4'?: 4 4'46

    Qugfr} febvnrq ::'32 5:'0? 54'? 6?'=2 6?'=6

    Lnjgq jgf jfsjgaeq mgalufmgo gtjq 2?'0: 3'3? 2'?0 1'=? :'1?

    Lnjgq jgf jfsjgaeq vn ornut anktjgmeq 66'12 6:'22 6:'21 4 4

    Mgvereqv eptegqeq 55': 3?'=2 :6'15 :43'4: :?0'2: 1

    Tnwer eptegqeq 4 4 4':6 4'4: 4

    Orjvumv} 4 2'=2 :'65 :'65 4

    Nv`erq 0'32 1'=2 4'40 4 4

    Gn nc anktjgmeq :14 :63 :63 :16 ::1

    JTOAKQ, RJHJKTEV' :=

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    ALNV@Q MGFUQVR]

    Mganke # eptegfmvure

    JTOAKQ, RJHJKTEV' 24

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    ALNV@Q MGFUQVR]

    Alnv`

    Rq' Arnre (Gng+Jggujlmqef- Kjr+41 Kjr+46 Kjr+45 Kjr+43 Kjr+4? Kjr+

    Vnvjl mganke ::016'=3 :5024'12 :1650'2 :5630'12 :326:'3= :=26=

    Qjleq :4?01'? ::466'?1 ::=5?'?= :1?0='?2 :604:'=3 :02=5

    Mgfuqvrmjl qjleq :4602'05 :434?'56 ::?:1':= :1600'0= :6166':1 :?160'Mganke crnk gng+cmgjgamjl qersmaeq 144'05 61?':= 266'3 144'01 65?'01 =6?'

    Mganke crnk cmgjgamjl qersmaeq ?20'3 ?21'01 ?64 01?'=0 =65'46 633'

    Mgvereqv ?43'3= 5=0'3= 3=6'=6 ?32'5? 0::': :=1'

    Fmsmfegfq 6'=5 ::'02 ?'02 3'66 0'?0 0'

    Vrejqur} nterjvmngq :5'5= ::4'1: 2='?1 56'56 ?3': 22?'

    Nv`er mganke 61':0 6:'=5 32'42 ?:'40 36'33 5='

    Trmnr termnf mganke # epvrjnrfmgjr} mganke 2?='60 644='0: 3=0'1= ?3='56 614'41 620'

    A`jgoe mg qvnai 30'31 +:4:'3 :65'16 :34'?0 100'42 201'

    Vnvjl eptegqeq :1645'43 :5501'=3 :6123'3? :55?:'6 :34:='36 :0332'

    Rjw kjvermjl eptegqeq 5=11'11 5030'35 3=31'0 ?=1?'6 0304'1= :46:0

    Tjaijomgo eptegqeq 15':6 61'06 5:'2: ?4 03'31 :4:'

    Tura`jqe nc cmgmq`ef onnfq 6=:'1= 3?3'36 6=='6: 606':= 550'53 :40:'

    Tnwer, cuel # wjver a`jroeq 0:0'43 ?01'66 054'= ==1'3= :421'41 :243'

    Anktegqjvmng vn ektln}eeq :206'?1 :613 :42:'5= :43?'10 013'43 =20'

    Mgfmreav vjpeq 66='= 55:'0? 62='02 123'46 :?='15 :0?'

    Rn}jlvmeq, vea`gmajl ignw+`nw ceeq, eva' 5'30 5'?? 5'3: 3'55 ='11 5'

    Lejqe regv # nv`er regv 22'33 26'?0 1:'0: 1?'=: 36'3: :4?'

    Retjmrq # kjmgvegjgae :2='3? :12'= :60'3 :36'?1 :56':1 :31'

    Mgqurjgae trekmuk tjmf 12'41 1:'61 11':0 15'2 16'36 2=

    Nuvqnuraef kco' hnbq (mgal' hnb wnriq, eva'- 6:4'12 135'5? 611'11 51:':= 5=6'01 3?:'

    Nuvqnuraef trnceqqmngjl hnbq :0':6 2:'0? 21'=? 64'41 55'36 63'

    Fmreavnrq/ ceeq 4':1 4'2: 4'26 5'16 3'2? ?'

    Qellmgo # fmqvrmbuvmng eptegqeq 1?:'=2 16='?: 103':6 625 555'?= 351

    Vrjsel eptegqeq 14'45 11'5: 16'6= 64'== 62':: 6:'

    Ankkugmajvmng eptegqeq :2'40 :2'31 ::'61 :6'?3 :3'10 :3'

    Trmgvmgo # qvjvmnger} eptegqeq :4'0? :2'3= :6':2 :6'00 :?'45 :='

    Kmqaelljgenuq eptegqeq :?='=5 244'1? 241'4= 242'=0 235'6= 116'

    Nv`er nterjvmngjl ept' nc mgfl' egvertrmqeq 64'16 55'51 60'?3 35'3? ?3'3 =1'

    Nv`er nter' ept' nc gng+cmg' qersmae egvertrmqeq 4'?6 4 4'4: 4'03 4'= 4'

    Q`jre nc lnqq mg qubqmfmjrmeq.HSq,eva' 4'51 4 4 4 4

    Lejqe ezujlmqjvmng jfhuqvkegv 4':: 4 4 4 4

    Lnqq ng qeaurmvmqjvmng nc jqqevq.lnjgq 4 4 4 4 4

    Cee bjqef cmgjgamjl qersmae eptegqeq =4'3: ?3'= 05 0?'11 34'2: 63'

    Vrejqur} nterjvmngq eptegqeq ?'?0 :40'3? ?:'1? :5'3? 3 ::'

    Vnvjl trnsmqmngq 1='0= 2:0'01 01'4? 23'22 :5'56 53'

    _rmve+nccq ?0'6= 1?'00 25:'50 11'?3 :3':= 24'

    Leqq8 Eptegqeq ajtmvjlmqef +:'13 :'4= :'?5 2?'2 :66'4: 2:6'Leqq8 FRE # eptegqeq a`jroef vn nv`erq 4 4 4 4':= 4'3? 4'

    Trmnr termnf # epvrjnrfmgjr} eptegqeq 35'03 24:0'=2 :26'?3 ::6'=2 55'05 ?4'

    TBFMVJ :16:'01 235:'2 :?=0 2=:1'0 1132'0: 1625'

    Mgvereqv tjmf 2462'0 :33='3? :??6'20 :05='?? :35='5: :201'

    Cmgjgamjl a`jroeq ng mgqvrukegvq :'5: 4'=5 :'21 4':= 4':=

    Eptegqeq mgaurref ng rjmqmgo fetnqmvq.febvq 4'41 4'4: 4'4= 4'4: 4

    TBFVJ +?42'5: =04'5? 22'6 :451'01 :?41':: 2:62'

    JTOAKQ, RJHJKTEV' 2:

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    ALNV@Q MGFUQVR]

    Fetreamjvmng 3=1'5: ?43'61 360'6= ?32'46 064'60 =2='

    Jknrvmqjvmng 2='4= 2?'26 26'?6 ::'?1 :0'2= :6'

    TBV +:625':: 263'= +354'01 204'43 066'16 ::=?'

    Trnsmqmng cnr fmreav vjpeq ?3'13 ::2':6 ?2'1 222'13 216'2? 12?

    TJV +:54:'6? :16'?3 +?21':1 5?'? 3:4'4? 0?4'

    Gn nc anktjgmeq :14 :63 :63 :16 ::1

    Mgseqvkegvq

    Alnv`

    Rq' Arnre (Gng+Jggujlmqef- Kjr+41 Kjr+46 Kjr+45 Kjr+43 Kjr+4? Kj

    Mgseqvkegvq :1?6'31 1=?='1 10=6'6: 64=0 6:0?'4: :5?1

    Mg ezumv} q`jreq :4:0'1: :4?=':3 :40='43 :206'25 :435'36 ??3

    Ornut anktjgmeq =?3'6= :411'4: :46?'1= :240':3 =0=':= 35=

    Nv`er v`jg ornut anktjgmeq 6:'02 63':5 6:'3? ?3'4= ?3'65 ::

    Mg treceregae q`jreq ='50 ='11 :1'5= :6'?1 6='?0 =3

    Ornut anktjgmeq =':0 =':0 =':6 :6'50 6='31 =

    Nv`er v`jg ornut anktjgmeq 4'6 4':5 6'65 4':5 4':5 4

    Mg febv mgqvrukegvq 56'?: ?0'3 ?5'6: :?6'06 :21'22 :20

    Nv`er v`jg onsergekegv febegvureq.bngfq 56'32 ?0'56 ?5'15 :?6'?0 :21':3 :20

    Ornut anktjgmeq 5: ?5'?5 ?1 :22'42 :4='3 :4

    Nv`er v`jg ornut anktjgmeq 1'32 2'?= 2'15 52'?3 :1'53 :0

    Mg bngfq.febegvureq nc onsergkegv.lnajl bnfmeq 4'4= 4'43 4'43 4'43 4'43 4

    Mg kuvujl cugfq 265'0? 146':1 :=0'6= 0='15 251'22 0

    Ornut anktjgmeq 4 4 4 4 4

    Nv`er v`jg ornut anktjgmeq 265'0? 146':1 :=0'6= 0='15 251'22 0

    Mg nv`erq 31'00 25?5'3 2505'=6 2313'5= 204='62 313

    Leqq8 Trnsmqmng cnr fmkugmvmng mg sjlue nc mgseqvkegvq :?'?2 3?'52 30'40 :4:'?3 ::6'2? :65

    Gng+trnsmqmngmgo nc fmkugmvmng mg mgseqvkegvq 4 4'?3 4'?: 4 4'46 4Bnni sjlue nc zunvef mgseqvkegvq :64'45 :5?'5? :02'?3 :33':1 212'3: :5:

    Kjriev sjlue nc zunvef mgseqvkegvq 60'0 55'== :11'23 :==':1 :01'25 :26

    Kjrievjble qeaurmvmeq 11?':= 653'=? 136'=0 251'01 64='?: 222

    Mgseqvkegv lnfoef jq qeaurmv} :33'13 :?2'30 30'?0 65'=1 :21'0: :2?

    Gn nc anktjgmeq :14 :63 :63 :16 ::1

    VNNLQ NC JGJL]QMQ

    Ejrgmgo Tnwer nc Mgfuqvr}

    JTOAKQ, RJHJKTEV' 22

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    ALNV@Q MGFUQVR]

    V`e ejrgmgo tnwer nc mgfuqvr} mq ajlauljvef bjqef ng(:- Nterjvmgo Tercnrkjgae'(2- Cmgjgamjl Tercnrkjgae'

    Nterjvmgo Tercnrkjgae8

    _`eg v`e angaerg mq regfermgo qnke qersmaeq rjv`er v`jg kjgucjavurmgo v`eonnfq ajllef nterjvmgo anqv jgf mvq eccmamega} mq ajllef nterjvmgo tercnrkjgae'

    EBMVNterjvmgo tercnrkjgae ; ++++++++++++++++++++++

    Gev Jqqev

    Cmgjgamjl tercnrkjgae8

    Cmgjgae kj} be fecmgef jq v`e trnsmqmng nc knge} jv v`e vmke mv mq wjgvef' V`ecmgjgamjl tercnrkjgae kejgq v`e trnaurekegv nc cugfq jgf v`e ecceavmse uvmlmxjvmng ncknge}'

    TJVCmgjgamjl tercnrkjgae ; +++++++++++++++++++++++++

    Gev wnrv`

    Anqv qvruavure8

    Cmpef A`jroerqAnqv qvruavure; +++++++++++++++++++++++++

    Sjlue Jffef

    Ornwv` Rjve8

    Tg ; Tn (: ) r- g

    @ere T g ; Aurregv }ejrTn ;bjqe }ejrr ; ornwv` rjve

    Qvjvmqvmajl Vnnlq8

    Vn trefmav v`e cuvure sjlueq oegerjll} we jttl} vregf jgjl}qmq' V`e cnrkuljq jrejq cnllnwq'

    JTOAKQ, RJHJKTEV' 21

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    ALNV@Q MGFUQVR]

    Vregf Jgjl}qmq8

    Eqvmkjvmng nc qjleq Uqmgo ] ; j)bp

    } ; gj ) b p

    p} ; jp ) bp2

    Anrreljvmng8

    Anrreljvmng mq v`e feoree nc jqqnamjvmng bevweeg vnw sjrmjbleq jgf mv mqretreqegvef mg verkq nc j an+eccmamegv ignw jq anrreljvmng' V`e rjgoe nc v`e anrreljvmngan+eccmamegv mv mq mg bevweeg +: jgf ):' Mc v`e anrreljvmng an+eccmamegv mq geojvmse, v`eg v`esjrmjble jre mgserqel} trntnrvmngjl jgf kjpmkuk w`eg mv mq +:, Mc v`e an+eccmamegv mq 4,v`ere mq bm jqqnamjvmng bevweeg v`e sjrmjbleq jre jqqnamjvef fmreavl} jgf mv mq kjpmkukw`eg mv mq ):'

    8 + +^ ^(p+ p- (}+}-

    r ; +++++++++++++++++++++++++ ^ + ^

    (p+ p-2 (}+}-2

    ANQV QVRUAVURE8

    Anqv qvruavure q`nwq v`e teraegvjoe nc anqv mgaurref vn trnfuae j trnfuav' Mv mq v`e

    reljvmngq`mt bevweeg cmpef a`jroeq jgf sjlue jffef' @ere cmpef a`jroeq kejgq (wjoeq

    )mgvereqv ) fetreamjvmng-, sjlue jffef kejgq qjleq+(rjw kjvermjl ) tnwer # cuel-'

    JTOAKQ, RJHJKTEV' 26

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    ALNV@Q MGFUQVR]

    Cmpef a`jroeqAnqv qvruavure ; ++++++++++++++++++++++

    Sjlue jffef

    Vjble gn : q`nwmgo anqv qvruavure (Rq mg arnreq-

    Q'Gn

    Tjrvmauljrq 2441 2446 2445 2443 244? 2440

    : Qjleq :4?01'? ::466'?1 ::=5?'?= :1?0='?2 :604:'=3 :02=5

    2 Rjw Kjvermjl,tnwer, cueljgf wjver

    3143':4 3222'63 ?206'20 01:0'12 =41?':: :40=0

    1 Ektln}eeanktegqjvmng

    :206'?1 :613 :42:'56 :43?'10 013'43 =20'5

    6 Mgvereqv tjmf 2462'0 :33='3? :??6'2 :05=':? :35='? :201'4

    5 Fetreamjvmng 3=1'5: ?43'61 360'51 ?32'46 064'60 =2='5

    3 Sjlue jffef(:+(2)1--

    1:=2'0? 1103'11 135:'=2 6646'42 6=20'?= 3630'?

    ? Cmpef a`jroeq(6-)(5-)(3-

    5=2=':0 5?32'61 34?6'35 ?425'21 ?620'=? 030:'2

    0 Anqv qvruavure :'05 :'55 :'33 :'5= :'54 :'16

    MGVERTREVJVMNG8

    B} nbqersmgo jbnse vjble mv mq alejr v`jv anqv qvruavure nc v`e alnv` mgfuqvr} fearejqeqangvmgunuql} epaetv mg v`e }ejr 2445, beajuqe nc cmpef a`jroeq trntnrvmng vn sjlue jffef

    mq angvmgunuql} fearejqef' Mv wjq kjmgl} fue vn j ljroe mgarejqe mg qjleq w`eg anktjref

    vn cmpef a`jroeq' Mv `jq ecceavef ng v`e eccmamega} nc alnv` mgfuqvr} jgf mv geef vn mktrnse

    mvq eccmamega} b} refuamgo cmpef a`jroeq'

    NTERJVMGO TERCNRKJGAE8

    Nterjvmgo tercnrkjgae q`nwq v`e reljvmngq`mt bevweeg TBMV jgf gev jqqevq'

    EBMVNterjvmgo tercnrkjgae ; +++++++++++++++++

    Gev Jqqevq

    JTOAKQ, RJHJKTEV' 25

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    ALNV@Q MGFUQVR]

    Vjble gn' 2 q`nwmgo nterjvmgo tercnrkjgae (Rq mg arnreq-

    ]EJR EBMV GEV JQQEVQ NTERJVMGO

    TERCNRKJGAE

    2441 3:='21 26:5?'=0 4'425

    2446 :=:?'51 26553'1? 4'4?0

    2445 ::26'?? 1?130'? 4'414

    2443 2:64'41 1:36='02 4'43?

    244? 2546'46 136=?'02 4'430

    2440 260:'45 1:50='60 4'4?0

    Orjt`8 :

    4'425

    4'4?0

    4'41

    4'43? 4'430

    4'4?0

    4

    4'4:

    4'42

    4'41

    4'46

    4'45

    4'43

    4'4?

    4'40

    RJVMN

    2441 2446 2445 2443 244? 2440

    ]EJRQ

    Nterjvmgo tercnrkjgae

    MGVERTREVJVMNG8

    Crnk v`e jbnse vjble mv mq alejr v`jv v`e nterjvmgo tercnrkjgae nc alnv` mgfuqvr} `jq

    mktrnsef crnk }ejr vn }ejr epteav 2446' Mv wjq kjmgl} beajuqe j trntnrvmngjve mgarejqe

    mg EBMV, mq knre v`jv nc gev jqqevq' V`e knre sjlue nc v`e trntnrvmng q`nwq v`e bevver

    nterjvmgo tercnrkjgae v`e mgfuqvr} mq ser} onnf'

    CMGJGAMJL TERCNRKJGAE8

    Cmgjgamjl tercnrkjgae q`nwq v`e reljvmngq`mt bevweeg trncmv jcver vjp jgf gev wnrv`'

    TJVCmgjgamjl tercnrkjgae; ++++++++++++++

    Gev wnrv`

    JTOAKQ, RJHJKTEV' 23

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    ALNV@Q MGFUQVR]

    Vjble gn' 1 q`nwmgo cmgjgamjl tercnrkjgae (Rq mg arnreq-

    Y]EJR TJV GEV _NRV@ CMGJGAMJL

    TERCNRKJGAE

    2441 +:54:'6? +1061'35 4'41=

    2446 :16'?3 603':: 4'2??

    2445 +?21':1 651':1 +:'5=1

    2443 5?'? :05?'30 4'41:

    244? 3:4'4? ?016'0: 4'4??

    2440 0?4'4? 30?0'21 4':23

    Orjt`8 2

    4'41=4'2??

    +:'5=1

    4'41: 4'4??4':23

    +2

    +:'5

    +:

    +4'5

    4

    4'5

    RJVMN

    2441 2446 2445 2443 244? 2440

    ]EJRQ

    Cmgjgamjl tercnrkjgae

    MGVERTREVJVMNG8

    Crnk v`e jbnse vjble mv mq alejr v`jv v`e cmgjgamjl tercnrkjgae nc alnv`q mgfuqvr} mq sjrmef

    knre' Mg v`e }ejr 2445 mv onv knre fecmamvq beajuqe mv onv knre lnqqeq mg v`jv }ejr' Jcver

    2445 v`e anktjg}q TJV mgarejqef' V`jv mgfmajveq v`e anktjg} mq mg bevver tnqmvmng'

    ORN_V@ JGJL]QMQ

    V`e cnllnwmgo vjble q`nwq v`e ornwv` teraegvjoe nc qjleq mgaurref mg eser} }ejr b}vjimgo 2441 jq bjqe }ejr

    Vjble gn' 6 q`nwmgo ornwv` jgjl}qmq

    ]EJRQ QJLEQ ORN_V@ %

    JTOAKQ, RJHJKTEV' 2?

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    ALNV@Q MGFUQVR]

    2441 :4?01'? ++

    2446 ::466'?1 2'62

    2445 ::?:1':= 3'45

    2443 :1600'0= :5':5

    244? :6166':1 3'16

    2440 :?160':? 24'=6

    Orjt`8 1

    ORN_V@ JGJL]QMQ

    :4?01'? ::466'?1::?:1':=

    :1600'0=:6166':1

    :?160':?

    4

    5444

    :4444

    :5444

    24444

    2441 2446 2445 2443 244? 2440

    ]EJRQ

    QJLEQ

    QJLEQ

    MGVERTREVJVMNG8

    Ornwv` teraegvjoe nc qjleq q`nwq kjhnr sjrmjvmngq mg v`e }ejrq 2443 jgf 2440' Alnv`q

    mgfuqvr} q`nwmgo onnf requlvq quaaeqqmsel} mg qjleq mg jll }ejrq'

    VREGF JGJL]QMQ

    Vregf jgjl}qmq nc mganke8

    V`e cnllnwmgo vjble q`nwq v`e epteavef sjlueq cnr v`e gepv ankmgo }ejrq8

    Vjble gn 5' q`nwmgo vregf jgjl}qmq]EJRQ MGANKE

    JTOAKQ, RJHJKTEV' 20

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    ALNV@Q MGFUQVR]

    2441 ::016'=3

    2446 :5024'12

    2445 :1650'2

    2443 :5630'12

    244? :326:'3=

    2440 :=26='6

    Eqvmkjvef qjleq cnr 244= 210?3'53

    Eqvmkjvef qjleq cnr 24:4 2??36':2

    Orjt`8 6

    ::016'=3

    :5024'12

    :1650'2:5630'12:326:'3=

    :=26='6

    210?3'53

    2??36':2

    4

    5444

    :4444

    :5444

    24444

    25444

    14444

    RJVMN

    2441 2446 2445 2443 244? 2440 244= 24:4

    ]EJRQ

    VREGF JGJL]QMQ

    MGVERTREVJVMNG8

    B} uqmgo vregf jgjl}qmq vea`gmzue, we eqvmkjvef v`e cuvure mganke nc alnv`

    mgfuqvr} cnr 244= kj} be 210?3'53 jgf cnr 24:4 wmll be 2??36':2

    Vregf jgjl}qmq nc qjleq8

    V`e cnllnwmgo vjble q`nwq v`e epteavef sjlueq cnr v`e gepv ankmgo }ejrq8

    Vjble gn 3' Q`nwmgo vregf jgjl}qmq]EJRQ qjleq

    JTOAKQ, RJHJKTEV' 2=

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    ALNV@Q MGFUQVR]

    2441 :4?01'?

    2446 ::466'?

    2445 ::=5?'?

    2443 :1?0='?2

    244? :604:'=3

    2440 :02=5'=

    Eqvmkjvef qjleq cnr 244= :05:2'42

    Eqvmkjvef qjleq cnr 24:4 :==5='55

    Orjt`85

    :4?01'? ::466'?::=5?'?

    :1?0='?2:604:'=3

    :02=5'=:05:2'42:==5='55

    4

    2444

    6444

    3444

    0444

    :4444

    :2444

    :6444

    :3444

    :0444

    24444

    RJVMN

    2441 2446 2445 2443 244? 2440 244= 24:4

    ]EJRQ

    VREGF JGJL]QMQ

    MGVERTREVJVMNG8

    V`e eqvmkjvef qjleq cnr 244= mq :05:2'42

    V`e eqvmkjvef qjleq cnr 244= mq :==5='55

    ANRRELJVMNG BEV_EEG QJLEQ JGF MGSEQVKEGVQ8

    Vjble gn' ? q`nwmgo anrreljvmng bevweeg qjleq jgf mgseqvkegvq

    ]EJR QJLEQ MGSEQVKEGVQ

    JTOAKQ, RJHJKTEV' 14

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    ALNV@Q MGFUQVR]

    2441 :4?01'? :1?6'31

    2446 ::466'?1 1=?='1

    2445 ::=5?'?= 10=6'6:

    2443 :1?0='?2 64=0':244? :604:'=3 6:0?'4:

    2440 :02=5'= :5?1'56

    Anrreljvmng bevweeg QJLEQ Sq MGSEQVKEGVQ mq ; +4'533:

    MGVERTREVJVMNG8

    V`e aneccmamegv nc anrreljvmng bevweeg QJLEQ Sq MGSEQVKEGVQ mq +4'533:' V`mq

    mgfmajveq bnv` `jse geojvmse anrreljvmng' Bnv` mgseqvkegv jgf qjleq jre mg nttnqmve

    fmreavmng'

    ANRRELJVMNG BEV_EEG MGANKE JGF MGSEQVKEGVQ8

    Vjble gn' 0 q`nwmgo anrreljvmng bevweeg mganke jgf mgseqvkegvq

    JTOAKQ, RJHJKTEV' 1:

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    ALNV@Q MGFUQVR]

    ]EJR MGANKE MGSEQVKEGVQ

    2441 ::016'=3 :1?6'31

    2446 :5024'12 1=?='1

    2445 :1650'2 10=6'6:2443 :5630'12 64=0':

    244? :326:'3= 6:0?'4:

    2440 :=26='6 :5?1'56

    Anrreljvmng bevweeg MGANKE Sq MGSEQVKEGVQ mq ; +4'3400:

    MGVERTREVJVMNG8

    V`e aneccmamegv nc anrreljvmng bevweeg MGANKE Sq MGSEQVKEGVQ mq +4'3400' V`mq

    mgfmajveq bnv` `jse geojvmse anrreljvmng' Bnv` mganke jgf mgseqvkegvq jre mg v`e nttnqmve

    fmreavmng'

    Q_NV JGJL]QMQ

    Qvregov`q8

    JTOAKQ, RJHJKTEV' 12

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    ALNV@Q MGFUQVR]

    Mgfmj `jsmgo sjrmnuq vrjfmvmngq, eja` nge `jsmgo v`ere nwg qv}le nc aulvure mg

    alnv`mgo `eltq feselntkegv nc alnv` mgfuqvr}'

    A`jgoeq mg vregf jlqn `elt mg feselntkegv mg alnv` mgfuqvr}'

    Mgarejqmgo tntuljvmng `eltq v`mq mgfuqvr}'

    Onsergkegv trnsmfmgo eser} mgcrjqvruavure vn alnv` mgfuqvrmeq'

    Mv `jq `mo` quttl} a`jmg kjgjoekegv mg Mgfmj m'e' `jsmgo knre revjmlerq mg eser}

    qkjll vnwg'

    _ejigeqqeq8

    Anktevmvmng jrmqmgo crnk cnremog mktnrvq nc cjq`mng vregfq'

    Cjqv a`jgoeq vregf mg kjriev''

    Geef vn mktlekegv utfjvef vea`gnlno} vn refuae anqv nc trnfuavmng'

    Uglmaegqef mgfuqvrmeq jre v`ere'

    Nttnrvugmvmeq8

    Angqmferjble tnvegvmjl epmqvq cnr qevvmgo ut kjgucjavurmgo ugmvq cnr sjlue jffef

    trnfuavq'

    V`ere mq j a`jgae vn mktlekegv knferg vea`gnlno} jgf qeaure knre requlvq'

    Ljai nc fnkmgjgv anktevmvmng' Jsjmljbmlmv} nr gew vea`gnlno} cnr kjqq trnfuavmng'

    V`rejvq8

    Jlv`nuo` cjq`mng vregf mq onmgo vn a`jgoe cnr fj} vn fj} onsergkegv geef vn omse

    quttnrv cnr alnv` mgfuqvr}'

    JTOAKQ, RJHJKTEV' 11

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    ALNV@Q MGFUQVR]

    Ljai nc terceav alnv` quttl} vnwjrfq egf uqer'

    Qjleq jre bjqef ng vregf, aulvurjl jgf ceqvmsjl'

    Mgarejqef anktevmvmng'

    NBQERSJVMNGQ

    V`e anqv qvruavure nc v`e alnv` mgfuqvr} fearejqeq angvmgunuql} epaetv mg v`e }ejr

    2445, beajuqe nc cmpef a`jroeq trntnrvmng vn sjlue jffef mq angvmgunuql}

    JTOAKQ, RJHJKTEV' 16

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    ALNV@Q MGFUQVR]

    fearejqef' Mg nrfer vn oev knre trncmvq we `jse vn fearejqe cmpef a`jroeq b}

    mgarejqmgo trnfuavmng'

    B} nbqersmgo cmgjgamjl tercnrkjgae we nbqersef v`jv mg v`e }ejr 2445 mv onv knre

    fecmamvq beajuqe mv onv knre lnqqeq mg v`jv }ejr' Jcver 2445 v`e anktjg}q TJVmgarejqef' B} angqmfermgo v`e nserjll cmgjgamjl tercnrkjgae nc alnv` anktjg}, mvq

    mq mg bevver tnqmvmng'

    Mv mq alejr v`jv v`e nterjvmgo tercnrkjgae nc alnv` mgfuqvr} `jq mktrnsef crnk }ejr

    vn }ejr epteav 2446' Mv wjq kjmgl} beajuqe j trntnrvmngjve mgarejqe mg EBMV, mq

    knre v`jv nc gev jqqevq' V`e knre sjlue nc v`e trntnrvmng q`nwq v`e bevver

    nterjvmgo tercnrkjgae nser jll v`e mgfuqvr} mq ser} onnf'

    Ornwv` teraegvjoe nc qjleq q`nwq kjhnr sjrmjvmngq mg v`e }ejrq 2443 jgf 2440'

    Alnv`q mgfuqvr} q`nwmgo onnf requlvq quaaeqqmsel} mg qjleq mg jll }ejrq'

    B} uqmgo vregf jgjl}qmq vea`gmzue, we eqvmkjvef v`e cuvure mganke nc ALNV@

    MGFUQVR] cnr 244= mq :=?33'== jgf cnr 24:4 mq be 21=0?' @ere anktjg} mq

    ornwmgo mg tnqmvmse kjgger' _e eqvmkjvef v`e cuvure qjleq nc alnv` mgfuqvr} cnr

    244= mq :05:2'42 jgf cnr 24:4 jre :==5='55' @ere anktjg} mq ornwmgo mg

    tnqmvmse kjgger'

    V`e aneccmamegv nc anrreljvmng bevweeg QJLEQ Sq MGSEQVKEGVQ mq +4'533 jgf

    bevweeg MGANKE Sq MGSEQVKEGVQ mq +4'3400' Mv mgfmajveq bnv` `jsmgo

    tnqmvmse anrreljvmng' Bnv` jre knsmgo mg qjke fmreavmng' Mv mgfmajveq bnv` `jsmgo

    tnqmvmse anrreljvmng' Bnv` qjleq jgf mgseqvkegv jre knsmgo mg qjke fmreavmng'

    ANGALUQMNG8

    JTOAKQ, RJHJKTEV' 15

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    ALNV@Q MGFUQVR]

    B} jgjl}xmgo v`e anqv qvruavure, cmgjgamjl jgf nterjvmngjl tercnrkjgae, ornwv` jgjl}qmq,

    vregf jgjl}qmq jgf aneccmamegv nc anrreljvmng, we angalufe v`jv alnv` mgfuqvr} `jsmgo bevver

    tercnrkjgae b} anktjref wmv` nv`er mgfuqvrmeq' V`e ornwv` rjve mgfmajvmgo v`jv alnv`

    mgfuqvr} kj} revjmg mvq bevver tercnrkjgae mg cuvure jlqn'