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Urban development action grants.
ON tariffs and trade was recognized by that institution. A new chapter to the G.A.T. T. Was added in 1965 on trade and development, which called for the reduction of tariffs and quotas on developing countries' exports.
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It became possible for preferential duties to be given to imports from developing countries without having to extend these preferences to all the contracting parties of G.A.T. T. In 1970 agreement was reached by which the developed nations in the EUROPEAN free trade association and the european economic community, as well as the U.S. gave preferences in specified manufactured goods to the developing countries. This agreement came into force in 1971. The fourth conference in 1976 agreed that discussions should be pursued with a view to the negotiating of a common fund to finance an integrated commodity price support scheme. Agreement in principle to set up a common fund of $750 million was reached in 1980. This sum would be used to finance stabilization stocks of eighteen commodities and to support export promotion. Ninety countries are required to ratify the agreement but only twenty-five countries had done so by the deadline of March 1982. This deadline was then extended to September 1983.
United Nations Relief and Rehabilitation Administration (U.N.R.R.A. ). An.
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