French leader calls for growth by technology

Press, 7 June 1982, Page 6

French leader calls for growth by technology

NZPA-Reuter Paris President Francois Mitterrand. of France, called on other Western leaders at the week-end to approve a programme of using technology to pull the world out of economic recession and spark growth in richer and poorer countries. Mr Mitterrand made his proposal in a speech at the first plenary session of a summit conference of the seven leading non-Commun-ist industrialised States at the seventeenth-century Versailles Palace, west of Paris. The Socialist President, whose belief in a strong State role in U economy sets him apar’ from most other participants, said that private and public companies should be involved in deciding on priority measures for technological co-operation. His ideas were greeted with cautious initial approval by some other leaders at the conference — attended by the United States. Canada, Britain. France. Germany. Italy, and Japan — although diplomats said American views were reserved.

On the informal agenda at the two-day gathering were specific measures to prevent erratic fluctuation of currency exchange rates, as well as American sugges-

tions for limiting trade credits to Communist countries.

Guarded by more than 2000 police and with small anti-aircraft batteries at the ready in the grounds of the sumptuous chateau, the two Presidents and five Prime Ministers gathered around a circular table in a room which once served as a chapel. Mr Mitterrand proposed the creation of a group of eight experts — one from each State at the summit and from the European Economic Community — to identify priorities and produce a' report by the end of this year. He" said that if the leaders at Versailles did not agree on joint action for a concerted development of the world economy, “each one of us will withdraw into himself. trade conflicts will worsen. and protectionist practices will establish themselves.”

A programme of growth through technology, he said, should include the fixing of global targets, establishment of a world technology market. and the setting of priority measures for • technological co-operation between private and public companies and between nations.