situation of the developing countries, both
se agreed to closely co-operate with each other in the forums
urious international organizations such as UNCTAD and GATT, particularly
developing countries' interest in preferential tari££ conomic assistance to be rendered by the developed countries.
7. Bath delegations expressed particular concern over the reports
regarding restrictive masures on the importation of all kinds of textile products informally initiated by the Government of the Unitedŝtates of Amerien
mament that both parties would stand against any restrictive
shared the view that it would be better for their GoVRIR-
not to react or respond before formal proposals are made by the GoveFUMESÉ
he United States of America on the ground that it is not incumbent upon
exporting ommtries to propose any solution prior to an official approach
initiated by the United States. They also agreed to cautiously watch tha
reaction of some business circles of a certain country vho had dominated
a good proportion of synthetic fibre market of time United States, but whose
market share had diminished in recent years.
8. They finally agreed to maintain informal contact on the subject of
the above-mentioned textile products and to inform their respective repre-
sentatives in Washington, D.C. and Geneva of the nature of the discussions
held in Seoul; and to instruct these representatives also to maintain
informal contact on this and related subjects.
(Syd.) KUL SEUNG LEB
Vice Minister of Commerce and Industry
(sd.) Terence D. Sorby
Director of
ommerce and Industry