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Salient: Victoria University Students' Paper. Vol. 27, No. 12. 1964.

[introduction]

The Recent United Nations Conference on Trade and Development marked the formal beginnings of the most intensive period of international negotiations and discussions in trade and economic matters since the early post-war years. It began auspiciously, ran its course for nearly four months, and ended in deadlock and compromise between the industrial and developing countries.

In Spite of the internal discord several promising schemes have emerged. A permanent UN body, the Trade and Development Board, has been established to continue the work of the UNCTAD clearing a way through the national trading policies for the developing countries to get moving. Proposals were made concerning aid for development with 1% of the Gross National Product as a goal for the more priviledged economies. Also formulated was a new plan for multilateral aid under the International Development Association.