uropean AND Pacific Common Market ?

Islands territories are studying possible trade effects as a result of itain’s announcement in April that it will bid for membership of the iropean Economic Community. But too few details are available for y real assessments to be made. The Fiji sugar industry could be the ust vulnerable—unless Fiji can also be admitted to the Common Market an associated British territory, and this is possible.

Meanwhile, moves for a Pacific trade federation came from two rections in April—from Tokyo at a meeting of the Japan-Australia isiness Co-operation Committee and from Sydney at the Pacific In strial Conference, sponsored by the US Stanford Research Institute.

The question of a Pacific trading federation was one of the main ms discussed in Sydney. Top businessmen from the Pacific Basin ssed the subject around quite a lot. There were several Islands business m present, including Mr. lan Downs, MHA, of New Guinea.

Nothing definite was decided on but it was agreed to leave the matter the hands of the Stanford Institute to see if it could get something ing along the lines of increased Pacific commercial co-operation.

The point was repeatedly made that commodity prices in the Pacific d on world markets had not increased by the same proportions as mufactured goods—and that this was handicapping primary producers ch as coffee growers, banana, orange and copra planters.

At Tokyo, Australia, New Zealand and Japanese business leaders t up a Pacific Basin Economic Co-operation Committee, open to mibership by American and Canadian businessmen.

The body will aim to expand trade, encourage the exchange of pital and technological information, promote tourism, joint studies, Rural and scientific exchanges.