Pacific Trade and Development : Papers and Proceedings of a conference held by the Japan Economic Research Center in January 1968

Abstract

The Japan Economic Research Center held an international conference from January 9 through 13, 1968 on the subject of "Pacific Trade and Development". Contained in this book are the papers and proceedings of the conference.

Trade policies in the Post- Kennedy Round world are fluid and searching for new direction. The devaluation of the pound sterling and its effect on gold and the dollar were a severe shock for the Pacific countries. A restructuring of European trade can be anticipated. The North-South problem is soon to be debated again in New Delhi.

At this time, there seems an urgent need to promote Pacific economic cooperation, to develop measures for expanding trade among Pacific countries , and to promote trade and aid for developing countri es in Asi a and Latin America. The fluidity in world trade policies and the uncertainty in world trade and monetary arrangements serve to emphasise the urgency of this task.

The conference was originally planned with a very humble desire to promote keener interest in economic development and trade expansion among countri es in the extended Pacific area, including Asian and Lati n American developing countri es . These countries have huge potenti al for future development. The importance of this potential has tended to be neglected in the past.

At the end of very intensive and fruitful discussions which ranged over a wide area of trade and ai d problems i n the extended Pacific area , we are full of enthusi asm and confidence that it is really worthwhile to study further and deeply the feasibility, as well as difficulties, of the establishment of a Pacific Free Trade Area . Our studies should certainly stimulate, within 3 or 5 years, moves by nations around Pacific Basin towards closer economi c cooperation . This would benefit not only trade expansi on among advanced countries but also for the economic development of Asian and Lati n American developing countries due to the joint aid efforts which could be more effectively realized through the closer partnership of advanced Pacific basin countries.

As indicated in the final communique issued by the conference, our study should be continued, and our study should be academic and free from various pressures except truth. Our study is, however, policy oriented, and, it is hoped, the results of our study will contribute to policy-making for the benefit of nations in the extended Pacific area.

Finally, we would like to express our sincere thanks to the members of the secretariat and others who made the meeting so successful.