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September, 1968 before the most recent monetary crisis and reviewed the world economic situation at that time. Heads of Government might wish in
their review to discuss, in particular, prospects for the international monetary system (including the position of sterling and other reserve currencies and the activation of the scheme of Special Drawing Rights), and trends in international trade and development assistance in the light of recent develop-
ments.
In the course of their general review Heads of Government may wish
to refer to problems of particular concern to them. In this connection the following are subjects which have so far been mentioned by Heads of Govern-
ment.
Trade and Development Prospects in the light of UNCTAD II. Many
developing countries consider that the very limited positive results
achieved at UNCTAD II are not at all commensurate with either the
dimensions or the urgency of their development problems. Common- wealth Ministers met in New Delhi during the early part of UNCTAD II to consider subjects on the Conference Agenda of special Common- wealth concern including possible Commonwealth approaches to some of them. Heads of Government might wish to consider whether further consultations should be arranged in regard to the future work of
UNCTAD.
Problems of Landlocked Member Countries. The Government of
Lesotho proposes to submit a paper entitled "Development Problems of an Under-Developed Country which is also an Enclave". The special Conference called by the United Nations on the subject of Landlocked Countries in 1965 evolved a Convention relating to land-
locked countries. Several Commonwealth countries in Africa have a
special interest in this subject.
European Common Market and other Regional Economic Groupings. Some Commonwealth countries have special arrangements with the European Economic Community. The British Government's applica- tion for membership remains on the table. Others are in the process
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