Six Agreed On Farming

Press, Volume CV, Issue 31057, 12 May 1966, Page 19

Six Agreed On Farming

(N.Z. Press Association —Copyright) BRUSSELS, May 11. Ministers of the European Common Market countries agreed early today on a farm financing policy for the sixnation economic community, delegates to the meeting reported.

The farm financing issue has been the most controversial in the Common Market’s eight-year history and was a major factor in the long crisis which threatened to disrupt the West European trade bloc last (northern) summer.

half of the payments into the fund. The remainder will be provided by levies on food imports in which Germany, being a big importer, will be the largest contributor, while France’s share will be nominal.

A tariff-free customs union will come into effect on July 1, 1968.

Five of the remaining 20 per cent customs tariffs will be removed on July 1, 1967, the remaining 15 per cent on July 1, 1968, United Press International reported. The agreement is subject to common prices and agricultural regulations being decided on by July this year. Nevertheless, it was the biggest step forward the Common Market has taken in the last three years. The Italians agreed the modernisation side of the farming fund should be pegged at £62.3 million sterling a year—nearly £36 million sterling less than they originally demanded but £12.6 million more than their partners had been willing to grant. Farm Fund The Ministers also agreed on the percentages each individual member country will have to pay into the farm fund when it will be fully working. National percentages were set at 31.2 for Germany, 20.3 for Italy, 32 for France, 0.2 for Luxembourg, 8.2 for Holland and 8.1 for Belgium.

Contributions from these percentages represent about