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(b)
(c)
(d)
We want the newly industrialised countries to "graduate" into
acceptance of the obligations as well as the rights of GATT membership.
These countries have reached a stage in economic development when they
can no longer expect one-sided concessions. They should be ready to
dismantle their own protective barriers and become full participants
in the open trading system. In the short term, the debt situation of
certain NIC's (and their consequent need to maximise export earnings)
may militate against liberalisation of market access, But the situation
may be somewhat easier by the time a new GATT Round gets underway, and
certainly by the time the results come to be implemented.
event the obstacles to greater NIC participation in GATT are as much
psychological and political as economic. The UK considers that as a
general rule special treatment under the GATT should now be reserved
for those countries which are genuinely "less developed".
In any
We would also like to see significant progress towards the liberalisation
of trade in agricultural products. It is in the UK's interest to keep
up external pressure on the EC's common agricultural policy.
We seek reduction in those industrial tariffs in the developed countries
which are still at levels inhibiting trade.
(e)
We should also use the new round to focus attention on the need for
Japan to reduce her growing trade surpluses by increasing her imports
of manufactured goods and liberalising her financial markets. The
latter, in particular, will help to ensure that the exchange rate
more nearly reflects market realities
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