Guaranteed Price Agreements (Indexation of Commodity Prices)

As mentioned on p. 2 above, UN General Assembly Resolution 3083 (XXVIII) calls for a study of “…ways and means whereby unit prices of manufactured imports from developed countries and unit prices of exports from developing countries could be automatically linked.” This simply carries to its logical conclusion the contention of several of the Commonwealth Heads of Government at their 1973 meeting that, as inflation continues to raise the prices of manufactured goods in international trade, countries highly dependent on the export of primary products should be protected against deterioration of their terms of trade.


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