CONFIDENTIAL
THE NORTH/SOUTH DIALOGUE
(AND THE 'NEW INTERNATIONAL ECONOMIC ORDER')
1. The North/South Dialogue is the somewhat unhelpful and simplistic
term for discussions between the industrialised countries and the
developing countries (LDCs) in response to the latter's demand for
a New International Economic Order (NIEO) in which they would
have a greater share of the world's wealth and a more substantial say in world economic management.
UK Policy
2. We play a constructive part in such discussions. Progress is
being made despite the continuing world economic difficulties.
We believe that developed and developing countries have a common
interest in maintaining and strengthening the existing international
arrangements for co-operation on trade and financial issues.
3. We do not accept a number of the more radical proposals which the LDCS have put forward, which we judge to be incompatible with economic stability and the mutual confidence essential to recovery in the world economy. Such measures which would undermine the
integrity of the International Financial Institutions, or subvert
the open world trading system we judge to be contrary to the
fundamental interests of industrialised and developing countries
alike. We have, however, negotiated trade measures designed to
assist developing countries, we have contributed to initiatives in
the field of agricultural production and food security, and we have
supported the orderly evolution of the international monetary and
financial system, so as to ensure its increased sensitivity to the needs of developing countries.
Instructions to the delegation
4. The wording of any declaration or resolutions referring to
North/South concepts could cause difficulty. Texts should be cleared
with the FCO before the UK is committed to them (233 4907).
5. We can accept general references to the desirability of
establishing a New International Economic Order, but have to be wary
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