§ 9. Mr. Brooks
asked the Minister of Overseas Development whether he will publish in the OFFICIAL REPORT details of the movement of the terms of trade between 1964 and 1968 in relation to each of the countries in the Commonwealth in receipt of British aid.
§ Mr. Prentice
Data are not immediately available for the terms of trade of developing Commonwealth countries with the United Kingdom and it would take several weeks to compile them. I am publishing a table in the OFFICIAL REPORT which shows the available figures relating to the global terms of trade of certain developing Commonwealth countries and 211 of certain regions. I regret that the information supplied is somewhat fragmentary, but many developing countries do not construct price indices for their exports and imports.
§ Mr. Brooks
While appreciating the difficulties and expressing gratitude to my right hon. Friend for providing such information as is available, may I ask whether he does not agree that it is important that the strategy of British overseas aid should take into account the vulnerability of many countries to adverse movements of the terms of trade, which can often neutralise the benefits of aid programmes?
§ Mr. Prentice
Yes, Sir. This is one of the many factors which we take into account. Going beyond that, it is clear that both the right trade policies and the right aid policies are needed side by side for successful development.
§ Following is the information:
|TERMS OF TRADE|
|(Unit value of exports divided by unit value of imports)|
|Southern and Eastern Asia||100||100||101||100||100†|