FREEDOM OF TRADE KEY TO PEACE

Grey River Argus, 17 December 1948, Page 5

FREEDOM OF TRADE KEY TO PEACE

MELBOURNE, (By Airmail). Reduction of trade barriers js_the only key to a peaceful world, Dr. Virgil D. Reed, American marketing expert, who is making a world survey of export markets, said here recently. An all-round reduction of trade barriers did not mean sacrifices and concessions by one country to another but the improvement of living standards for all, said Dr. Reed, who add. ed that early understanding and agreement must be reached by the leading nations on these problems:— Discriminatory treatment of nations in world commerce. Elimination of most exchange and trade restrictions, including quotas, embargoes and prohibitions against both imports and exports. Reduction of tariff barriers and simplification of customs procedures. .Agreement on ‘fair trade’ rules covering such factors as Government monopolies, State trading and cartels. Creation of an international trade organisation to study international trade problems and recommend trade practices. Finding a reasonable solution for cases where world productive capacity is in excess of world demand, and finding means of shifting high cost efforts and resources out of the over-expanded industries into other productive effort. Allocating, on a fair basis, what, world shipping is available. “Any Government activities in international trade.” stated Dr. Reed, “should be confined to promoting conditions and an atmosphere favourable to the active international exchange of goods, services, and capital. — Reuter..