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The Common Fund

Papers Prepared for Commonwealth Technical Group, Volume 2: Papers Prepared by the Commonwealth Secretariat, September 1977

image of The Common Fund

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The Evolution of Proposals on the Constituent Elements of the Common Fund

The concept of an integrated programme for commodities was formally launched when the United Nations at its Sixth Special Session in May 1974 adopted its Programme of Action on the Establishment of a New International Economic Order with which it was hoped to deal with the severe economic imbalance in the relations between developed and developing countries. Part of that Programme was a call for all efforts to be made for the amelioration of the terms of trade problem of the developing countries and the elimination of their chronic trade deficits.

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