§ 28. Mr. C. Osborneasked the President of the Board of Trade what estimate he has made of the effect on British industry of President Kennedy's suggestion of a joint Western effort to increase imports of cheap manufactures produced by cheap labour from developing countries; which trades would be most affected; how many they employ, respectively; what would be the effect of such a policy upon unemployment in these industries; and if he will make a statement.
§ Mr. MaudlingI presume that my hon. Friend is referring to a suggestion for an international conference of the principal textile exporting and importing countries. The objectives of this conference are still a matter for discussion internationally. We all recognise the importance of trade for the developing countries, and we also have to bear in mind the interests of our own producing and exporting industries.
§ Mr. OsborneWill my right hon. Friend bear in mind that, whilst it is reasonable to protect our own interests, the developing countries cannot raise the very low standard of living of their own people if we prohibit them from selling what they produce? That should be borne in mind when we enter into these negotiations.
§ Mr. MaudlingThis is one of the most difficult problems of the modern world—the comparative interests of the developing countries, which want to trade, and the interests of our own industries threatened with disruptive competition. It is an exceedingly difficult problem which I hope we shall be able to disentangle, but time will be needed to accomplish this.