Comunidad del pacífico en perspectiva - Volumen 2

LA COMUNIDAD DEL PAciFICO EN PERSPECTIVA / F. Orrego Viculia By way of contrast, the total trade between Latin American countries and all the Western rim countries is only of a similar magnitude. The table in Appendix 2 indicates the broad position and highlights the success of Japanese efforts in its quest for raw materials in return for economic aid. There has been litlle evidence of substantial horizontal trading south of the Equator. Australian trade with the Latin American Pacific seabord has been minima!. Despite earIy historical links comprising coal in return for ni trates, the value of trade in 1977· 78 was only A$ 65 million, with the balance being in Australia's favour. This position can largely be attributed to the paralleJ economic developments of Australia and the Latin American countries, parti– cularly Mexico, Peru and Chile. They are aH naturale resource rich countries which have been developed by foreing investment. There is a relatively limited domestic requirement for the mine rals and metals they produce and therefore these are exported iu· to world markets. Japaus has taken the opportuuity to diversify its raw material dependence on Australia by lookiug to Chile for copper and Peru for lead, zinc and tungsteno 5. Institutional Organisation to Pmmote the Pacific Basin A number of governmental institutions have been proposed for the Pacific Basin, although to date these have not attracted strong support. The most promising are: The PACIFIC FREE TRADE AREA (PFTA). This was conceived as an Asian Pacific organisation but received no support from the u.s. which preferred a free and open global economic system. The ORGANISATlON FOR PACIFIC TRADE AND DEVELOPMENT (OPTAD). This was a proposal to cater for Latin American .and Communist country membership as well as the Asian Pa· cific, and has held a series of Pacific Trade and Development Conferences (PAFTAD). The concept has been promoted by Australia and supported by Japan, but it appears to have been largely ignored by the countries of the Eastern rimo 84.