§ Mr. Blakerasked the Secretary of State for Trade if he is considering ways of compensating developing countries for the diminished benefits under the generalised preference scheme which would result from any agreement in the Tokyo Round to reduce the tariffs of advanced industrial countries.
§ Mr. DeakinsParticipants in the GATT Multilateral Trade Negotiations recognised in the Tokyo Declaration the importance of maintaining and improving the Generalised System of Preferences. We are keen to ensure that developing countries derive the maximum benefit possible from the negotiations as a whole. However, like other developed countries, we do not think that direct compensation for reduction of GSP preferential margins would be an appropriate measure.