become prevalent, the gloss may tend to wear off. This is to 

 be expected in a trade conference of such magnitude, of such 

 far reaching significance. However, such a programme, so im- 

 portant to future trade and economic cooperation, is surely 

 worth the effort that is necessary to bring negotiations to a 

 successful conclusion. 



We have in the postwar period made great strides in inter- 

 national trade and economic cooperation. At the close of 

 the war, the debilitating effect of the beggar-your-neighbor 

 policies of the 1930's were still vividly impressed on the minds 

 of governments. There was a general determination to work 

 out the kind of trade rules which would prevent a recurrence 

 of the 1930's. The leadership of the U.S. has been a most 

 important factor in the success of these efforts. 



These trade rules are now subject to considerable strain. 

 I have no doubt that the time is come to adapt our trading 

 rules in order to serve better the needs of the trading world of 

 the 1960's. What I would caution against, however, is throw- 

 ing away the hard-won trading framework and rules without 

 having something better to put in their place. At times such 

 as these, when the trading world is tending to break up into 

 trading blocs— the EEC, the EFTA, the LAFTA— or between 

 the developed countries and the less developed countries, we 

 in Canada sometimes get the feeling of being neither fish nor 

 fowl. Voices are raised in favour of joining one or other of 

 these trading blocs, or developing a trading bloc of our own. 

 There are also voices calling for withdrawal — a move toward 

 economic isolationism. 



I believe that the multilateral trading world that we have 

 fashioned in the postwar period has well served the trade and 

 economic interests of the Western world. It has already con- 

 tributed to an extraordinary increase in volume of world trade 

 and a significant reduction in barriers to trade. The Ken- 

 nedy Round holds out the opportunity of maintaining the 

 momentum. We cannot afford to miss the opportunity. 



There is also an insistent and urgent need to help the less 

 developed countries raise the living standards of their people. 

 I regard the trade problems of the less developed countries 

 and the need for them to have an opportunity to improve the 

 lot of their people the greatest challenge of the 1960's. This 

 issue is being squarely faced by the world trading community. 



The developed countries are, I think, very much aware of the 

 importance of opening up markets for the products of the 

 developing countries. The Kennedy Round provides an im- 

 portant opportunity to reduce trade barriers facing the products 

 of particular importance to the developing countries. Trade- 

 in fish is not unimportant in this context. 



While we have not had the pleasure of working with our 

 Mexican friends in the GATT, we have developed close rela- 

 tions with, and a great admiration for, our Mexican friends 

 in the many international commodity discussions and confer- 

 ences where we have worked together. It seems to me that 

 cooperation in the commodity field holds great promise and 

 that we all have a stake in developing its full potential. In this 

 we must be realistic. Enduring bargains can only be struck 

 when a fair balance is reached. There is clearly a need for 

 international commodity cooperation designed to ensure re- 

 munerative and stable prices to efficient producers. There is 

 an equal need to ensure supplies at reasonable prices to con- 

 sumers not only to protect the consuming interests but also to 

 ensure a continuing strong and healthy market. 



I have taken this occasion to stress particularly the impor- 

 tance of cooperation in the fishing industry and the benefits 

 to be received from world trade. I would also like to sell you 

 on a holiday in Canada. Not the least of our attractions are 

 the fine game fish of our Maritime coasts and inland waters. 

 I have no doubt that even the people in the fishing industry 

 are not adverse to taking a busman's holiday. 



In conclusion, I commend you for the initiative you have 

 shown in bringing this group together and I wish you well in 

 your deliberations. I am confident that the fisheries industries 

 of North America represented here can bring to bear an under- 

 standing and consideration that is vital to international trade 

 cooperation and maximum trading opportunities. I know 

 that the Canadian industry for its part has been looking for- 

 ward to the opportunity to exchange views with their counter- 

 parts in the United States and Mexico. They are anxious to 

 explore the possibilities for improving the interests of the North 

 American fishing industry through closer cooperation. I am 

 convinced that through conferences such as this, the trade and 

 commerce between countries can be greatly enhanced and 

 strengthened. 



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