TNAG-2056-FCO40-2934-Hong-Kong-and-the-Organisation-for-Economic-Cooperation-and--1990 — Page 39

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C/NM(90)22(1st Revision)

The Washington-baseď Brookings Institution and the London-based Centre for Economic Policy Research who have been the principal players in developing the modellers' network alluded to above would be interested in pursuing this idea, and would be keen to have OECD act as a co-sponsor for a

I conference that would take place in Seoul in early 1991. The OECD's role

would be two-fold: as co-sponsor the Organisation would provide a link (that would be generally welcomed) between the technical modelling work and the broader policy issues that, in the end, the modelling work is meant to elucidate. As one of the contributors to the financing of the conference, we could assure that it in fact took place.

Macroeconomic Policy Dialogue

18. An activity that could probably be successfully managed, despite sensitivities of some of the DAES in this area, would be to hold an informal I one-day meeting back-to-back with the Spring 1991 meeting of the Working Group on Short-Term Economic Prospects (STEP), that would bring together selected members of that group, in a personal capacity, with their (approximate) counterparts from the DAES. A three-part agenda could be proposed:

Part 1 would aim to summarise the global economic outlook as seen by OECD.

Part 2 would review economic prospects in the six DAEs, based on

brief national submissions.

Part 3 would aim for a general discussion, perhaps touching on the policy issues that seem to arise from the economic assessment, but (as is the case for STEP currently) avoiding questions of policy prescription.

A poat-Uruguay Round Informal Meeting

I 19. Such a meeting, tentatively scheduled for 1 1/2 days on 27th (p.m.) and

1 28th February 1991 back-to-back with a session of the OECD Trade Committee.

I might be structured around two broad topics Topic A: An Assessment of the | Uruguay Round; and Topic B: Trade Issues for the 1990s.

1 20. Under the first of these headings participants might review the outcome

I of the Round and consider the challenge presented by the implementation of

I the agreements reached as well as the need to pursue further any issues I remaining to be settled.

1 21. This could logically lead into the second broad topic in order to

1 identify a wide range of emerging trade issues of common interest. Sevoral of the areas mentioned at the Informal Workshop in Seoul (20-21 March 1990)

I as possible candidates for follow-up might be pursued further. As may be

I recalled, topics raised included the following:

analysis of the interrelationship between trade policy and domestic economic policies;

the links between trade policy and technological developments. including the concept of "strategic industries" as a quasi protectionist device;

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