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various OECD Committees might take account of UNCTAD III in their work. Lan affirmed our own desire to be as helpful as possible to the 1des and our willingness to play a full part in any OECD discussion on the various subjects: but he hoped such discussions would be undertaken in the spirit of a realistic appreciation of the real problems involved in actually finding "initiatives" that the developed countries could agree upon and take.
3.
The chimen was also sensibly restrained and balanced in his summing-up, in which, without dissent, he mentioned the relative emphasis on primary products; the desirability of a working party meeting on prinary commodities; the need to avoid large studies in considering the question of diversification, on which subject the US should circulate a paper; the need for DAC to consider the US idea on financing of.feasibility studies; the possibility of further discussion by the working party. adjustment assistance and trade expansion between 14cs, and the idea that transfer of technology was a subject, within OECD, for sone body other than the Trade Committeė,
Trade Policy Reviews in OECD
on
4. The US and Japanese delegates ressed their desire to have reviews in the Trade Committee of individual members' trade policics, Hijzen (BLC Commission) dealt with the Community's doubts about the merits of the proposal and commended their nodified proposal, as described in OECD document TC(71)9, of an annual memorandum by the OECD Secretariat which would allow the Committee to discuss broad problems of inter-st to a number of members. After inconclusive discussion, the Committee accepted the chaimon's suggestion that the Secretariat prepare and submit to the Committee's autumn session a monorandum of the type it would envisage as described in the Community's proposal: with the help of the memorandum, the Committec could then decide whether or not to adopt the Community proposal, with a view to the first of such annual discussions being organized in the first part of next year,
The chairman blurred over the desire of one or two delegatos only to discuss the Community proposal in the cuturn on the assumption that the US proposal remained on the table.
Trade Leasures and Balance of Payments Adjustment
5.
Two procedural questions remained for discussion by the Committee on the working party's report, numbered TC(71)11 (the substance of the report was adopted by the Committee) - viz whether or not the working party's documents should be, as desired by the US, transmitted to the GATT and IMF for their comments and whether or not the Trode Committee's adoption of the working party's report should in some manner be brought to the attention of the OECD Council. Edin (France) and Lam were sceptical of the nerits of either of these procedural ideas. Various delegates, including those of Norway and Sweden, were, in accordance with the "horizontal approach", enthusiastic about transmission to the Council. The Chairman surried-up to the effect that the document to be finally published would be transmitted by the OLCD Secretary- General, partly as a matter of courtesy, to the heads of the IME
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/and GATT