Minister from 24 leading non-Communist industrial countries opened a meeting in Paris on Thursday (23 June) to discuss a new economic strategy.
GV EXTERIOR Chateau de la Muette
SV INT Delegates walking down stairs into conference hall (3 shots)
SV United States Secretary of State Cyrus Vance talking (2 shots)
SV British Foreign Secretary, Dr. David Owen talking to Japanese delegation
SV Australian Foreign Minister Andrew Peacock with Secretary General of Conference Philip Lynch (Australian Treasurer)
SV New Zealand Prime Minister Robert Muldoon seated with delegates
SV Canadian, Danish, Spanish delegations seated with Ireland, Greece and Australia
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Background: Minister from 24 leading non-Communist industrial countries opened a meeting in Paris on Thursday (23 June) to discuss a new economic strategy. The two-day conference takes place against a background of rising unemployment and growing pressures for trade protectionism.
SYNOPSIS:Ministers of the conference of the Organisation for Economic Cooperation and Development (OECD) were being asked to renew a three-year old promise to avoid setting up trade barriers. But they must also decide if their present strategy for moderate economic growth is still the right one.
The United States Secretary of State, Cyrus Vance, is attending the conference. Mr. Vance announced at the end of May that his country would make new moves for the creation of a fairer international economic system. That announcement came during the "North-South" talks between the developing and industrialised countries. But that meeting -- also held in Paris -- ended without any real agreement on a number of important issues.
Although the OECD nations are all from the same economic side of the fence, they too may face difficulty in agreeing their future strategy. There is pressure from within a number of countries to reflate their economies -- a move the OECD as group says would be fatal.