G6 summit in Rambouillet 1975

from Wikipedia, the free encyclopedia
The Rambouillet Castle conference venue

The G6 summit was held from 15 to 17 November 1975 in Rambouillet ( Region Ile-de-France ), France instead. Subsequent meetings were - with the addition of Canada - gatherings of the Group of Seven (G7, 1976 to 1998) and then of the Group of Eight (G8), with Russia as a further participant. (On March 25, 2014, the other members excluded Russia due to the annexation of Crimea and reverted to the G7 format.)

The meeting was the first of the body later known as the G7 and G8. The follow-up meeting - the G7 summit in 1976 - took place in San Juan (Puerto Rico) the next year .

Attendees

subjects

Explanation after the end of the meeting

  1. On November 15, 16 and 17, 1975, we had an in-depth and productive exchange of ideas about the world economic situation, the economic problems common to our countries, their human, social and political effects and about plans for their solution.
  2. We came together because we share views and share responsibility. Each of us is responsible for governing an open, democratic society that is committed to individual freedom and social progress. Our success will strengthen democratic societies around the world, yes, it is vital for them. Each of us is responsible for ensuring that the prosperity of a large industrial economy is maintained. The growth and stability of our economies will help the entire industrial world and developing countries to prosper.
  3. To ensure the success of this objective in a world of growing interdependence , let us do everything in our power and strive for closer international cooperation and constructive dialogue between all countries on the differences in the stages of economic development, in possession of natural wealth and in strengthening political and social systems.
  4. The industrialized democracies are determined to overcome high unemployment , persistent inflation and serious energy problems. The purpose of our meeting was to give us clarity about our progress, to define more clearly the problems to be overcome in the future, and to mark our path for the near future.
  5. Our most pressing task is to ensure the recovery of our economies and to reduce the waste of human labor due to unemployment. In consolidating the economic recovery, it is essential not to unleash additional inflationary forces that would jeopardize success. The goal must be: steady and lasting growth. In this way, consumer and business confidence will be restored.
  6. We are confident that the objectives and actions of our current policies are compatible and complementary and that the recovery is well on its way. But we know that we have to be vigilant and adaptable in our politics. We will not allow the recovery process to stall. We will not accept a new surge in inflation.
  7. We also delved into the need to make new efforts in world trade , monetary policy and raw materials, including energy.
  8. As the domestic economy recovers and expands, we must seek to restore the growth of world trade. Maintaining an open trading system promotes growth and price stability. At a time when there are calls for a return to protectionism, it is important that the main trading countries reaffirm their commitment to the principles of the OECD standstill obligation and refrain from any action that might attempt to resolve their problems at the expense of others solve what would have detrimental economic, social and political effects. It is the responsibility of all countries, especially those with strong balance of payments positions or running deficits, to ensure that their policies allow world trade to expand for mutual benefit.
  9. We believe that multilateral trade negotiations should be accelerated in accordance with the principles agreed in the Tokyo Declaration. These negotiations should aim at substantial tariff reductions, in some areas even zero tariffs, significantly expanding agricultural trade and the dismantling of non-tariff measures. You should aim for maximum trade liberalization. Our aim is to conclude the negotiations in 1977.
  10. We will also step up our efforts to bring the ongoing export credit negotiations to a swift conclusion.
  11. We expect an orderly and fruitful expansion of our economic relations with the socialist countries to make an important contribution to advances in relaxation and global economic growth .
  12. With regard to monetary problems, we declare our intention to strive for greater stability. This includes efforts to restore greater stability to the basic economic and financial conditions of the world economy. At the same time, our monetary authorities will take measures to counteract disrupted market conditions or unpredictable exchange rate fluctuations . We welcome the rapprochement between the views of the United States and France, at the request of many other countries, on the need for stability, which reform of the international monetary system must promote. This rapprochement will facilitate an agreement by the IMF at the next meeting of the Interim Committee in Jamaica on the outstanding issues of world currency reform.
  13. A cooperative relationship and better understanding between developing countries and the industrialized world are fundamental to the well-being of both. Sustained growth of our economies is necessary for growth in developing countries, and their growth is essential to the health of our countries' economies.
  14. The current large deficits in the developing countries' current account are a critical problem for themselves as for the rest of the world. It has to be countered with a number of mutually complementary methods. The proposals recently presented at various international meetings have already improved the atmosphere for discussion between industrialized and developing countries. However, practical action is required soon to help developing countries. Accordingly, through the IMF and other appropriate international fora, we will do our utmost to bring about much-needed improvements in the international arrangements for stabilizing export earnings in developing countries and in the measures to help them finance their deficits. In this context, priority should be given to the poorest developing countries.
  15. Global economic growth is clearly linked to the increasing availability of energy sources. We are determined to provide our economies with the energy sources they need to grow . Our common interests require that we continue to work together to reduce our dependence on imported energy through energy conservation and the development of alternative energy sources . With this and through international cooperation between producer and consumer countries in the long-term interest of both, we will spare no effort to ensure more balanced conditions and a harmonious and steady development of the world energy market.
  16. We welcome the convening of the Conference on International Economic Cooperation , scheduled for December 16 . We will conduct this dialogue in a positive spirit to ensure that the interests of all concerned are protected and promoted. We believe that developed and developing countries alike have a vital interest in the future success of the world economy and in the political relations of cooperation that must underpin it.
  17. We intend, within the framework of the existing institutions and all relevant international organizations, to step up our cooperation to resolve all these problems.

Web links

Individual evidence

  1. ↑ “Industrial powers ban Russia from the G8” , N-TV , March 25, 2014.