TRADE REVIVAL

Ashburton Guardian, Volume 66, Issue 280, 7 September 1946, Page 5

TRADE REVIVAL

DEVASTATED AREA

SUB-COMMISSION’S REPORT

(N.Z. Press Association—Copyright.) (Rec. 12.30 p.m.) LONDON, Sept. 6. The United Nations Sub-Corn-mission on economic reconstruction of devastated areas adopted a report from the drafting committee which emphasised the. importance of reviving multilateral trade. „ The committee express the opinion' that some bilateral agreements might be justifiable, and even desirable, for. the transitional period, but for the long view bilateralism could represent only a second best because it prevented trade from building up on the basis of competitive efficiency, and the most economic international division of labour measures during the transitional period. Restrictive dis-’ criminatory practices should be temporary expedients. Reconstruction and development plans should-aim. at an„ international trading system based on fair, equitable treatment by all countries of each other’s commerce. The committee expressed . the ■ view that in spite of the improvement in the 1946 harvests, European countries involved in .the war (except Britain and Russia) were 20 per cent, below pre-war. It would be years before the countries which suffered most restored the numbers of live-stock. Restoration to pre-war level of coal production was a most important condi-' lion for recovery. The production of the seven largest producing countries, including the United Kingdom, was at present-25 per cent., below, pre-war. The Russian- delegate on the committee reserved his position "oh the recommendations. The sub-commission adopted a preliminary report from .the working group for Asia and the Far East which' forecasts visits to various countries to collect information for reeommendations to the United Nations Social Council. u -• Britain’s delegate, referring to Siam not being on the visiting lisF said he understood the French were* opposed to a visit to Siam because France had not yet made peace with Siam, but he believed that before long this would be accomplished. A visit to Siam was then certain.