2. However, it has been represented Liwut the foregoing proposal might
lead to a trading wystom incompatible with the basic abjectives and principles of GATT, the guarantor of the open and non-discriminatory
trading system.
3. Nevertheless it was common ground that growing disoquilibria in world trade constitute a serious problem and will need to be tackled by the countries concerned by various policy means including macro-economic policy, exchange rates, structural reform and trade policy.
4.
it was furthermore agreed that in the negotiations each and every contracting party should make genuine efforts to ensura mutual advantages and increased benefits to all participants, in accordance
with the principles of the GAIT.
Some proposals have been reccived regarding the setting up of negotiating groups for the negotiation. These will be formally circulated after the Session.
I note that there are, of course, certain issues raised by delegations on which a consonaus to negotiate could not be reached at this timo, These issues included the expurt of hazardous substances, commodity arrangements,
restrictive business practices and workers' rights.
I should also like Lu clarify that it is understood that paragraph VI(b)
is interpreted as meaning that (a) all participants in the MIN have the right to participate in all negotiations on all issues and that (b) non-contrasting
parties shall only be precluded from participation in decisions of contracting parties relating to the results of those negotiations.
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