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Economic and Social Survey of Asia and the Far East 1972

image of Economic and Social Survey of Asia and the Far East 1972

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.

English

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Balance of payments and commercial policies

The Strategy of the Second Development Decade emphasized foreign trade and payments as a major vehicle of development. Special attention should be given to the expansion and diversification of the export trade of developing countries in manufactures and semi-manufactures, and these countries should intensify their efforts to make greater use of trade promotion as an instrument for the expansion of their exports. Developed market economies, on their side, should, through a number of measures and arrangements, make sure that obstacles to export from developing countries be removed and no new obstacles to such exports be established. Priorities should be given to reducing or eliminating duties and other barriers to imports of primary products, including those in processed and semi-processed form, and preferential arrangements should be implemented as early as possible in 1971. The centrally-planned countries, in particular, should take the trade needs of the developing countries into due consideration when quantitative targets are fixed in their long-term plans and adopt measures designed to maximize and diversify imports of prim ary commodities from developing countries and to make im ports of manufactures and semi-manufactures from developing countries constitute a growing element in their total imports of such goods.

English

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