63. Mr. Craddockasked the President of the Board of Trade, in view of the collapse of Common Market negotiations, if he is satisfied that the progress made so far in negotiations with the European Free Trade Association, the Commonwealth and the rest of the world will provide alternative means for a rapid expansion in overseas trade; and if he will make a statement.
§ Mr. D. PriceMy right hon. Friend is satisfied that so long as the climate of world trade remains favourable our 121W exporters should be able to expand their exports to E.F.T.A. and Commonwealth markets as well as to the E.E.C. and other parts of the world. At their recent meeting, Ministers of the E.F.T.A. countries asked the Official Council to work out a programme of action with a view to the elimination of tariffs on industrial goods in the course of 1966. We have proposed a meeting of Commonwealth Trade Ministers about the time of the coming Ministerial Session of the G.A.T.T. which will provide an opportunity for discussions on trade and economic matters of common interest. We shall continue to work through the G.A.T.T. for further reductions of tariffs and other barriers to trade and in particular play our full part in the Kennedy round of tariff negotiations which we hope will soon begin.