§ Mr. Spearingasked the Secretary of State for Trade if he will make a statement concerning Her Majesty's Government's policy for the proposed common fund.
§ Mr. DellAt a negotiating conference on a common fund, which began in Geneva on 7th March, the following statement was made by the head of the United Kingdom delegation on behalf of the European Economic Council as a whole
The Community is attending the conference in order to participate fully and constructively in negotiations on a common fund as a means of financing commodity price stabilisation measures. These negotiations will give an answer to the question whether or not agreements can be reached on the establishment of a common fund of whatever kind. We do this on the basis of the broad, stated aim of the 'overall approach and integrated programme' set out in Resolution 93(iv), which is 'to improve market structures in international trade' and 'to achieve stable conditions in commodity trade, including avoidance of excessive price fluctuations'. In assessing the results of the negotiations the Community will of course place great weight on how wide a measure of agreement can be reached amongst developed and developing countries on a common fund, on its functions in relation to individual commodity agreements, and on the impact it might have on the good functioning of the world economic system. On the basis 122W of its commitment to participate constructively in the negotiations, the Community hopes that detailed discussions will be started promptly on the various aspects of a fund. The Community hopes that these negotiations on a common fund will be productive.This statement, which reflects an agreement reached at the Council of Ministers of the Community on 8th March, represents the position of Her Majesty's Government as well as that of the other member Governments.