§ Mr. Wareingasked the Secretary of State for Trade and Industry if he will make a statement on the recent General Agreement on Tariffs and Trade made in Punta del Este.
§ Mr. Alan ClarkContracting parties to the GATT (General Agreement on Tariffs and Trade) met at ministerial level in Punta del Este, Uruguay, on 15 to 20 September. My right hon. Friend the Secretary of State for Trade and Industry presided over meetings of European Community Ministers during the conference and I represented the United Kingdom.
The contracting parties agreed unanimously to launch the eighth round of multilateral trade negotiations in 220W GATT, to be known as the "Uruguay round". This launch is the result of three years' hard preparatory work. The success of the negotiations is vital to the preservation and strengthening of the world trading system.
The negotiations are scheduled to be completed within four years. The agenda will cover trade not only in goods but also in agricultural products and services.
The Ministerial declaration, a copy of which has been placed in the Libraries of both Houses, provides for discussion of all matters to which the Government attach importance.