§ Mr. Spearingasked the Secretary of State for Trade which member Governments of the EEC have intimated their support for the principle of a Common Fund as proposed by the Secretariat of UNCTAD; and if there will be a meeting of EEC representatives to UNCTAD prior to the opening of that Conference in Nairobi.
§ Mr. ShoreI am not aware that any member State of the EEC has intimated its support for the principle of a common fund in the terms proposed by the Secretariat of UNCTAD. The Netherlands Government representative at the UNCTAD Trade and Development Board has recently indicated his Government's preparedness to support a common fund for financing buffer stocks where these were appropriate for international commodity arrangements. The representatives of EEC member States at UNCTAD IV will hold co-ordination meetings both before and during the conference.
§ Mr. Spearingasked the Secretary of State for Trade what is the expected contribution required from the United Kingdom to the Common Fund as proposed by the UNCTAD Secretariat.
§ Mr. ShoreHer Majesty's Government's attitude towards the UNCTAD proposal for a Common Fund remains as set out in my hon. Friend's reply of 3rd February 1976. The UNCTAD Secretariat calculations are based on a number of assumptions, including the participation of all importing and exporting countries. The UNCTAD assumes that the United Kingdom's share of the capital subscription might be between $57.8 million and $77 million. Half of this would be in paid up form.