(CORRECTED) - PHILIPPINES CRITICISES EC FOR OIL LEVY
Philippines Trade and
Industry Secretary Jose Concepcion told world trade ministers
he wondered if their agreement was of any real value after the
European Community (EC) proposed a levy on vegetable oils.
    Concepcion, speaking at an informal meeting of the General
Agreement on Tariffs and Trade (GATT) here, said ministers
declared in Uruguay last September that the trade of
less-developed nations should not be disrupted.
    He said the EC not only ignored Manila's request for lower
tariffs on coconut oil but proposed a levy on vegetable oils
and fats that are vital exports for Southeast Asian countries.
    Concepcion said while the levy might be rejected by the EC
Council of Ministers, he noted that "I cannot help but wonder
whether the agreements we produce in meetings like this are of
any real value."
    He also said industrialised nations saved about 65 billion
U.S. Dlrs in 1985 through low commodity prices, but this had
affected the ability of developing nations to import goods and
services.
    "The health and the growth of world trade requires that the
new development of developing countries losing their share of
world trade be arrested and reversed," he said.
 REUTER
