UN General Assembly
1975

300. Our open-door policy as regards foreign trade, accompanied by an exceptional increase in non- traditional exports and an increase in the internal production of foods, has made it possible for us to handle the most difficult periods in the present crisis. In parallel, we attach great importance to the idea of establishing a collective security network to face the fluctuations in the balance of payments which result from diminished income from the sale of raw materials. This subject is now being studied by the central banks of the continent and their success can be ensured by the participation of the international economic community. 301. During this year we have continued our efforts to strengthen the progress of regional integration by ratifying the Protocol which creates the Council of Foreign Ministers of the member nations of the Latin American Free Trade Association. At the same time, we are actively participating in the streamlining of the machinery of the subregional Andean Pact for the purpose of making it conform to the new requirements of the international economic situation.