Commonwealth Investment

Press, Volume XCV, Issue 28314, 27 June 1957, Page 13

Commonwealth Investment

(Rec. 10 pjn.) LONDON, June 26. The “News Chronicle” today suggested that Britain’s only hope of supplying all the capital the Commonwealth needed for development was for heiy to link her economy with that of Western Europe. “From the riches and savings of this union will flow new funds for all,” the newspaper said. “However enthusiastic a Com-monwealth-builder Britain may be. it is impossible for this country to find all the funds. “What we have to do is to invest what money we can save and at the same time make it as easy as possible fot Empire countries to get capital from other sources. “New nations of Asia and Africa are so sensitive of their Sovereignty that they are suspicious of dollar investment directed from Washington,” the “News Chronicle” added. _

The other nations represented at the conference are Britain, Canada, Australia, New Zealand. South Africa, India, Pakistan, Ceylon and the Federation of Rhodesia and Nyasaland. Ceven of the delegates are Prime Ministers and three—New Zealand, South Africa and Ceylon—Cabinet Ministers. The discussions are taking place in the Cabinet room of No. 10 Downing street, the United Kingdom Prime Minister’s official headquarters. For the first time the flags of the member nations are flying on special standards erected in Downing street. This is the broad pattern of the Commonwealth statesmen’s talks: Today—An opening session to discuss the agenda, followed this afternoon by a. discussion on East-West relations and the recent shifts of policy in the Communist bloc of nations. Tomorrow —All-day discussions of the Middle East situation in the wake of the Suez crisis. Friday—An analysis of the situation in South-east Asia and the Far East. Informal Talks At the week-end there will be informal outside-conference talks by groups of Prime Ministers with the British Prime Minister (Mr Macmillan)’ or with the Commonwealth Relations ' Secretary (the Earl of Home). Monday—The problem of world disarmament, including an exchange of ideas on the controversial issue of H-bomb tests. Tuesday—Problems related to a revision of the Charter of the United Nations. Wednesday—The economic and trading problems of the sterling area. Thursday—Progress of various British colonial territories toward self-government within the Commonwealth. Outside the conference proper there will be group discussions on defence by Prime Ministers whose countries are linked with Britain in various regional defence alliances.