General Agreement on Tariffs and Trade

Extract

Ministerial representatives attending the thirteenth session of the contracting parties to the General Agreement on Tariffs and Trade (GATT) held a meeting from October 16 to 18 preceding the plenary session. According to the communique issued after the meeting, it was the view of the ministers that the outlook was promising for a continuing steady expansion in international trade and for substantial further progress in achieving the objectives of GATT, but they noted that serious trade and payments problems continued to confront many of the less developed countries, that unsatisfactory conditions still prevailed with respect to world trade in a number of primary commodities, and that special difficulties threatened to impede the future growth of international trade in agricultural products. The ministers reviewed the trends in international trade and in particular took into account a report prepared by a Panel of Experts, entitled Trends in International Trade The report, which was also before the thirteenth session, contained a number of recommendations. Among them were: the extension of more economic aid; more adequate domestic measures against business recessions; the provision of greater international liquidity; the provision of funds for buffer stock action; a reduction of certain revenue duties in countries consuming tropical foodstuffs and beverages; a moderation of agricultural protectionism in western Europe and North America; a shift in methods of agricultural protection in such countries away from price supports toward deficiency-payment systems; a reduction of protection against the import of minerals; and the avoidance of trade-diverting measures in regional economic arrangements such as the European Economic Community (common market).