ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(77)61
Vol.1977/9002

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COMMISSION
OFTHE
EUROPEAN COMMUNITIES
GeneralSecretariatCOM(77)61final.
Brussels,28February1977*
FOROFFICIAL USEONLY
COMMISSION COMMUNICATION TOTHECOUNCIL
concerningtheinternational negotiations onthe
IntegratedProgrammeforCommodities
DRAFTRECOMMENDATION FORACOUNCILDECISION
ontheparticipation oftheCommunityinthe
negotiations shortlytobeginonacommonfund
inaccordancewithUNCTADResolution93(lV)
CCM(77)61final.
«

PARJICIPATI0N_BY_THE_C0MMyNITY_IN_THE_NEG0TIATirJ6_C0NFERENCE
0N_A_COMMON_FUNDx_GENEyA^_7TH_M ARCH_TO_1ST_APRIL1977
Following the4thUNCTADinNairobiinMay1976/theCommis­
sionsubmittedcertainproposalstotheCouncilconcerning
thepreparatory meetings andnegotiations tobeundertaken
onindividual commodities andonthecommonfund(C0M(76)359
final).Itdrewattention to-theimportance ofCommunity par­
ticipation,assuch,inthecommonfundconference inthelight
of:
-questionsaffecting anumberoftheCommunity'spolicies,
interalia,itsCommonCommercial .Policy;
-thespecial-economic andpolitical-importance ofthe
conference totheCommonMarket.
ThepurposeofthepresentDocumentistoclarifytheposition
as,ontheeveoftheconference ,theCommunity entersthefi­
nalstagesofitspresentpreparations .TheCommission ,there­
fore,recommends totheCouncilthat.theCommunity shouldbe
authorised toparticipate intheNegotiating Conference onthe
basisofthedraftdecisionthatisattached.Following the
adoptionofthisdraftdecision,the.Conference shouldbeinvi­
tedtotakethenecessary steps.

RECOMMENDATION FORACOUNCILDECISION
ontheparticipation oftheCommunityintheNegotiating
Conference onacommonfundiprovidedforintheUNCTADIV
Resolutionadoptingtheintegrated programmeforcommodities
TheCounciloftheEuropeanCommunities ,
HavingregardtotheTreatyestablishing theEuropean
EconomicCommunityandinparticulartoArticle113thereof,
Havingregardtotherecommendation oftheCommission ,
WhereastheResolutionadoptedatUNCTADIVontheintegrated
programmeforcommodities providesfortheconvocation ofa
Negotiating Conference 'onacommonfund,
WhereasitisappropriatethattheCommunityshouldtakepart
intheNegotiating Conference ,whichconcernsmattersrelating
tothecommoncommercialpolicy,
Whereasitisalsonecessarytoproceedwithintheframework
,ofinternational organizations ofaneconomiccharacteronly
bycommonaction,
HASDECIDEDASFOLLOWS:"
SoleArticle >
-TheCommunityisherebyauthorisedtoparticipatemthe
Negotiating Conference onacommonfund,
-ThespokesmenoftheCommunitywillbethePresidencyof
theCouncilandtheCommission ,
•/•

Asregards matters coming within Community competence
onthebasis ofArticle 113oftheTreaty establishing
theEuropean Economic Community ,theCommission shall
conduct thenegotiations inaccordance with theprovision
ofthat Article ,
Thenegotiations will beconducted within the framework
ofthe guidelines defined intheAnnexe .

-4-
ANUEX
GUIDELINES
1.TheCommunityshould,participateconstructively inthenegotiations
inawaydemonstratingitsunderstanding ofthedevelopingcountries *
desireforanoverallandintegratedapproachtocommodityquestions.
2.TheCommunityshouldindicateitsbeliefthatindividualcommodity
negotiations shoulddeterminethefinancingrequiredforbufferstocks,
inaccordancewiththespecificneedsofcommodities.Togetherwith
otherindustrialised countriesitshoulddemonstrateitspreparedness
t^shoulderitspartoftheresponsibility forensuringthatnosuch
agreementinvolvingbufferstocksfailsforlackoffinance.
3.TheCommunityshould,therefore,conductthenegotiations witha
viewtodefiningaschemetocomplementthefinancialprovisions made
withinindividualcommodityagreements ,forthepurchaseofbufferstocks
inawaythatwould:
–optimisetheuseofresourcesandsofaraspossibleeffect
financialeconomies;
-contributetothestabilisation ofpricesaroundthelong-
termmarkettrend;
Q-thuscontributetothegoodfunctioningoftheworldeconomic
system.
TheCommunitybelievesthatonlyindividualcommoditycouncilsshould
beabletooperatedirectlyonthemarket.
4*TheCommunity,therefore,proposesthatacommonfundmightbe
establishedintheformofaclearinghouse(caissedeperequation)
involving .reciprocalrightsandobligations betweenindividualbufferstockfunds
andthepossibility ofpoolingofmoniesheldbythesefundssurplusto
theirimmediateneeds.TheCommunitybelievesthatitmaybenecessary,
ifonlytoensuretheeffectiveoperationofsuchacommonfund,that
it.couldhaveanelementof.ownresources,e.g.toguaranteeloans
raisedoncommercialmarkets.Itproposesthatthisaspectshouldbe
thesubjectoffurtherstudy. "

5.Inordertoensurethatdevelopingcountries,particularly the
poorerdevelopingcountries,areabletomeetthecallsmadeonthem
inthelightofindividualcommodityagreementsinvolvingbuffer
stocks,theCommunitysuggeststhatthescopeandoperationoftheIMP
BufferStockFacilityshouldinduecoursebesubjecttore-examination .
6.TheCommunitybelievesthatthefinancingofmeasuresotherthan
bufferstocksshouldbeconsidered,havingdueregardtothefacilitiesalready
available(e.g.intheWorldBank,regionalbanks,UNDP,IFAD,
^lateralaidprogrammes).Insofarasmeasuresotherthanbufferstocks,
whichrequirefinancing,maybeexaminedinthecontextofthecommon
fundidea,attentionshouldbeconcentrated onshortertermcommercial
measuresagreedincommoditynegotiations ,thatarenecessarytothe
basicobjectivesofmarketandpricestabilisation .
7.TheCommunityshouldaimtobring'theMarchconferencetoa
consensusreflectingthesepoints,andtotheestablishment ofa
workinggrouporworkinggroups(withinwhichtheexistinginternational
institutionsshouldenjoyfullparticipation )chargedwithdrawingup
amoredetailedreportforsubsequentconsideration oftheconference
ataresumedsession.