Concluding Statements of the Ottawa Economic Summit Conference Participants

Prime Minister Trudeau. Good afternoon, ladies and gentlemen. I should wish first on behalf of my colleagues at the table here to express our welcome to the press here and in accordance with the practices, established practices, and as Chairman of the summit meeting this year, I must make a statement summarizing the main points we have dealt with in the course of the last few days, and each of my colleagues will in turn speak to you.

The Ottawa Summit was met at a time of rapid change and great challenge to world economic progress and peace. East-West relations have been affected by the increase in the armed forces of the U.S.S.R. and its ever-increasing presence in the world. The political and economic situation of many countries has made it difficult for them to adapt to the new changes. The members of the summit meeting have also been victims of these changes and whatever we have attempted to do in the course of the last years was not necessarily carried out. We have had to reexamine the situation and restructure our activities so that, of course, there has been some pessimism about this summit.

Of course, it seemed to have been a difficult one but in my dual capacity as a participant and Chairman I am able to say, "No, the pessimists were not justified." We have met for many hours, and these contacts, of course, promote mutual trust and confidence in facing the crises we may have to—which challenge us. We've had very comprehensive discussions and frank discussions during our meetings. We have not tried to hide our divergences. We realize that we are dealing with economies which have different structures and have different reactions to the evolving situation. We have agreed that we could not revitalize our economies by isolating ourselves from one another. We have agreed on the fundamentals and realize we must take into account in our politics the impact it may have on our partners.

The whole burden of that fight cannot be made on monetary policy alone. And third, levels and movements of interest rates in one country can make life more difficult for other countries by influencing the exchange rates. This is something to which we must all remain sensitive and which we must try to minimize.

We must also pursue responsible trade policies. Over the years, as summit partners, we have warned against succumbing to the temptation of protection. These warnings have served us well. If we had drifted into protectionism, we might have conjured up an economic crisis similar to that of the 1930's. We have reiterated our strong commitment to an open, liberal, and multilateral trading system. We have agreed to deal with trade distortions. But we are determined not to lay the burdens of adjustment at the doorstep of our neighbors. We are looking forward to working with others on a trade agenda for the 1980's.

I regard this consensus about trade policy as one of the most important to have emerged from our meeting, not least for a major trading nation like Canada.

One of the uncertainties hovering over this summit was how it would deal with the North-South relationship. It's no secret to anyone that I attach very great importance to that relationship as an element of fundamental equity of mutual interests and benefits, and of global security.

The Ottawa Summit was the first of a series of important meetings this year where the North-South relationship will be at the center of the agenda. It seemed important to me, therefore, that the signal emanating from Ottawa should be clear and that it could be positive. For such a signal to be persuasive, it had to come from all of us jointly. That was the purpose of much of the travel, that as Chairman of this year's meetings I undertook in the weeks immediately preceding the summit.

The world looked to the Ottawa Summit for some sign of movement, some basis for hope that progress is possible, that the logjam can be broken. I'm very pleased with what we've been able to achieve. Our discussions showed a common appreciation of the magnitude of the problem and a common readiness to respond to it. There is now a disposition on the part of all summit countries to pursue any opportunity for meaningful progress, including what are known as global negotiations. That openness to the process of global negotiations represents a consensus which did not exist before our summit and seemed very remote not too many months ago.

The message we send from this meeting to the developing countries is the following: First, we respect your independence and support genuine nonalignment as a contribution to international peace and stability and as a basis for cooperation. Second, we look to you to play a full part in the international economic system and to become closely integrated to it. Third, we are ready to participate with you in preparations for a process of global negotiations. Fourth, we appreciate the problems of energy supply which you are encountering and are prepared to join with the surplus oil-exporting countries in examining how best we might jointly help you in developing your indigenous energy reserves. Five, we recognize the importance of more food production in your countries and of greater world food security and will try to make increased resources available for these purposes. Six, we will maintain our strong multilateral commitment to the international financial institutions and to the role they have played in alleviating the problems of development. And lastly, we will direct the major portion of our aid to the poorer countries.

On the occasion of this year's summit meeting, it seemed to us we could not ignore the fact that the strengthening of the armed forces in the Soviet Union has had an impact on the resources of our country and on the orientations which we have had to follow. We are convinced of the need for a strong defense capability, but we're also open to the possibility of dialog and negotiation with the Soviet Union, particularly as regards the nuclear armaments and security with less armaments and diminished cost.

I should wish, in conclusion, as Prime Minister of Canada, to say that we were very happy to be the host nation of this summit meeting. I am particularly grateful to all those who have accepted the challenge for this great endeavor and have provided the maximum of effort in assuring success. May I be permitted also to express deep gratitude to my colleagues at this table for having made my task so easy and to wish them Godspeed as they return to their own countries.

I will now call on the President of the United States, President Reagan.

President Reagan. Prime Minister Trudeau, I am sure I speak for all of us in thanking you for the welcome we've had and the hospitality that we've enjoyed during our 2 days together in Montebello. Merci. You've been a most gracious host, and my fellow countrymen and I shall long be grateful.

Not long ago, the conventional wisdom was that our seven nations were more sharply divided than any time in years. Only three of us had attended an economic summit before, and the rest of us are still in the first grade, the first-year class.

To the outside world this looked like it would be a difficult summit. Inflation rates are running at incredible levels. Unemployment, I should say, disrupts the lives of millions of people, and new fears of protectionism are sweeping across our continents. The agenda of Montebello represented an enormous challenge for all of us. The true measure of these past 2 days, days filled with candid but always friendly talks, is that we leave with a true sense of common understanding and common purpose. We've discussed at great length how each one of us is addressing economic problems at home while working in concert to assure that we are sensitive to the impact of our actions upon our partners.

I'm grateful to the other leaders here for their degree of understanding and support for the economic policies we're embarked upon in the United States. We have also resolved that we shall resist protectionism and support an open, expanding system for multilateral trade. And, as you have been told by the Prime Minister, we shall work together in helping the developing nations move toward full partnership in that system.

As Chancellor Schmidt has told us, our unity in economic matters is the best insurance we have against a return to the disastrous "beggar-thy-neighbor" policies of another era. Economic unity and political unity are two great goals we must continue to pursue. All our nations share democratic institutions based on a belief in human dignity, freedom, and the preeminence of the individual. I believe that we depart with fresh confidence and optimism about the future of democratic values and our societies.

Many uncertainties still lie ahead; much remains to be done. But, as an American, I would like to recall for you an inspiring story of my native land. It's the story of young Franklin Roosevelt, who was struck down by polio in the prime of life and then, struggling to cover and to scale new heights. I mention it because much of that struggle took place on a little island not too far from here in New Brunswick, Canada, and the story is remembered by a very appropriate title, "Sunrise at Campobello."

Now, today, as we leave Montebello, I just can't resist the suggestion that over the past few years our nations have suffered from an affliction too, an economic affliction. I hope sometime in the future people will look back and say that here, in these talks, we began to put our nations back on the road to economic recovery and that a new Sun rose at Montebello.

That is a hope I know all of us share. Thank you very much.

Prime Minister Trudeau. Thank you, President Reagan. I now give the floor to the President of the French Republic, President Mitterrand.

President Mitterrand. I, too, would like to express my thanks to Mr. Pierre Elliott Trudeau, Prime Minister, and I would like to thank the Canadian Government for their excellent welcome and for the very favorable conditions under which the Ottawa or Montebello Summit was carried out. These conditions were so favorable that we were able to progress, to achieve work, and even to achieve some conclusions.

You know that France has an original policy, a new policy, if you like, within this framework, as compared to the theme generally put forward. Now, I call this an original policy. It is our own peculiar policy. We have our own objectives, and it was important for us to see whether it was possible-and I had no doubt this was possible—for us to fulfill this policy in harmony with the others. By the others, I mean our main partners, those represented here and a few others as well. This has been possible partly because everybody participated, partly because everybody has realized what elements in our own policies can harm other countries' policies and what must, therefore, be set aside.

We have all realized what can be favorable to our common success and should, thus, be supported. But this has succeeded also because France is in favor of solidarity. We support, first of all, our friends. We think of history—particularly the history of the past half century in which we have seen disruptions, crises, and war—and we, thus, are united behind a certain number of fundamental changes, particularly freedom—freedom concerning the international level and freedom concerning democracy and democratic values within each of our countries.

We stand solidly behind our friends, and we also fully support those who, without being represented here, have been kept in mind in many of our discussions, and in many, in fact, of our decisions. I'm thinking more particularly of the countries of the Third World, more particularly the poorer among the countries of the Third World.

Right from the beginning, I wanted to emphasize the fact that we have to cooperate, to restrict as much as possible erratic exchange rates in our currencies, and to avoid as much as possible, as well, high interest rates. This is not a French problem; it is a European problem. In fact, I can say that this is a worldwide problem. I can say this taking into account possible consequences of present trends.

If you have a look at the text of our communique, you will see that there are a certain number of points being put forward concerning these issues. Similarly, right from the start, our position was in favor of everything that is able to bring down protectionism provided, of course, that right from the start we are all familiar with the whole set of existing mechanisms—mechanisms which mean that here and there protectionism is much too present.

Concerning trade with East bloc countries, as the communique says, a new examination of the situation will be carried out shortly. I have expressed the hope that, concerning this issue as concerning all the others, we take stock very precisely of the state of trade with those countries and that we take stock of the strategic consequences that might arise. This is also a point included in the communique.

In addition to this, priority had to be given during our talks to a policy towards countries of the Third World, what we call North-South relations. This is necessary not simply because it is our duty, but also because it is in our own interest. We must be distrustful of any attitude that I would term paternalistic. It is when we will be able to expand trade on stable bases, when we will be able to stabilize raw material prices-once this is done—it will be possible for those countries to set up lasting development plans. And once they have done this, we, the industrialized countries, will be able to fulfill our tasks.

And I think that along the lines of what we call the energy affiliate and along the lines of global negotiations which will be referred to again at Cancun, and also concerning international relations, I would say that on all these points progress has been achieved. We have been able to outline our objectives clearly.

And then, particularly during our informal meetings, we discussed problems concerning international relations, concerning the balance of forces. The position of France has always been as follows: equilibrium above anything else. Of course, equilibrium has to dominate not simply the matter of forces, but it should determine the nature, the type of negotiation to be opened up—the aim being to ensure disarmament and peace.

In conclusion, I would like to say that in Paris, or perhaps I should say in France, the next summit will be held. As you know, we have reached the end of a first cycle here in Canada. This was the seventh summit. So a new cycle of such summit meetings will begin, and I am very happy that the first element, the first step in this cycle, will take place in France. I will be happy to welcome there, my friends and partners, gathered here today. And since it is my task, I will continue to put forward and defend the interests of my country, but I will make sure that the summit of the industrialized countries will make it possible for us to continue along the path of understanding of our common interests and of our common tasks.

Thank you, very much. Thank you, Mr. President.

Prime Minister Trudeau. The Chancellor of the Federal Republic of Germany, Chancellor Schmidt, now has the floor.

Chancellor Schmidt. Thank you, Mr. Chairman, ladies and gentlemen. First of all, I, too, would like to thank you very warmly for the welcome, the hospitality of your country, and for the way you have acted as Chairman. You have been a very fair, very just Chairman. Thank you very much, Mr. Trudeau.

I think that we have found many areas in which we have been able to agree, and there were also many other areas or sectors in which close cooperation is possible and in which I think we can achieve or have already achieved a compromise. We have all expressed our desire to fight inflation and unemployment and to achieve competent and strong world trade and world economy.

I would like to stress these points because this time, even more so than in the past, the countries were represented by heads of state who use different economic policies or recipes, if I can call them this, in their own countries, in the range between monetarism and Keynesian theory.

I would like to bring up four points. Firstly, the main role played by trade policy. We agreed here that we do not wish to adopt any policies that take account only of national goals and do not take account of the repercussions they may have on the world economy. We do not wish to pursue such national policies.

I'd like to refer you to points 21 through 24 of the communique more particularly. We all face considerable pressure towards protectionism in our own governments, and we have all here expressed the desire to avoid such protectionism with a view to maintaining the strength and freedom of world trade.

Secondly, another important subject was that concerning the problems caused by high interest rates. We had a very detailed and interesting discussion without any accusations from one of the other parties, and several participants mentioned what negative repercussions a long-lasting, high interest rate would have on their national economies. This is true in any case for the German economy, particularly if you keep in mind the fact that the European economies have already been more strongly affected by the second oil price rise than was expected a couple of years ago.

We also welcome the fact that the United States of America has expressed the intention to do their very best to bring down these high interest rates. President Reagan, too, has told us that the American economy is also suffering from high interest rates.

It has not yet been able to see whether the fight against inflation in the United States might take certain different paths, which is why I have had to point out that my government, when I go back to Bonn, will begin to take certain decisions concerning the fact that, unfortunately for the time being, we will still have to deal with high interest rates and that we will thus have to take certain measures.

The third point, North-South relations, I would like to emphasize what Prime Minister Trudeau said a moment ago, and I would like to say, quite clearly, that we have full respect towards truly nonaligned countries, towards genuine nonalignment, which we consider to be an essential element of stability throughout the world.

I would also like to announce that the Federal Government in Bonn will support the organization of global negotiations in the near future. I am happy that we have already been able to hold discussions on the upcoming summit in Cancun.

Fourthly, I would like to emphasize the importance of the exchange of views involving the basic agreement concerning East-West relations where we are talking about equilibrium in military forces, dialog, and preparedness to cooperation. An exchange of views about present-day problems, about arms limitation and arms control, more particularly, were particularly important to me.

And I was also very much interested in the exchange of views about the present-day situation in the Middle East. We have expressed the common desire to see peace be established in that part of the world in the near future. We all want the vicious circle of the use of violence in that part of the world to be ended.

In conclusion, I would like to thank very warmly President Reagan, President Mitterrand, my colleagues Prime Minister Thatcher, Mr. Spadolini, Mr. Suzuki, and more particularly, to our host, Prime Minister Pierre Trudeau. I would like to thank you all for the openness, the frankness with which you all spoke.

As far as I am concerned, I have been very much enriched by this summit meeting, and I have to say that I'm happy to note that we have become better acquainted and that we are all determined not to accept that we should act without taking account of each other's problems. But quite on the contrary, we have said strongly that we will take into account everybody else's interests and problems. These are two essential points for me.

Thank you.

Prime Minister Trudeau. Thank you very much, Chancellor. From Great Britain, Prime Minister Thatcher.

Prime Minister Thatcher. Mr. Chairman, can I join my colleagues in paying a very warm tribute to your skilled chairmanship and thorough preparations. I think our success at this summit owes a great deal to those two things. I'd like also to say thank you to our Canadian hosts for the excellent arrangements they made, both in Montebello and in Ottawa.

It is my third economic summit. And over that period, we've increasingly given time in our discussions to the major political issues of the day such as Afghanistan and the Middle East, as well as to the economic problems that face us. I think this development reflects reality, because political issues and economic matters can't be isolated from one another and treated separately. They interact at every level, national and international. And I think this reality was recognized more at this summit than at any other. And the result, I think, was a workmanlike, balanced discussion which comprehended all of the major problems, whether economic or political, that face the Western world.

On these substantive issues, I'd like to confine my comments to four points: First, the world economy. At the last two summits in Tokyo and Venice, our work was dominated by the impact of the second oil price shock on the world economy. We then considered the impact it would have and how we should react to it. This time, of course, we met in the trough of the recession which that shock produced. But we've had to look at the whole range of economic questions, at the twin evils of inflation and unemployment, the need to adopt our economies and attitudes in order to beat unemployment, and of monetary disorders producing high interest rates and volatile exchange rates.

We all agreed on the need to fight inflation as the precondition for defeating unemployment as you have emphasized, Mr. Chairman, and on the need for low monetary growth, on the need for containing public borrowing, and for tight control of government expenditure. We are all giving effect to these principles in our own policies according to our own different circumstances.

Now, the second substantive issue on which I'd like to comment is developing countries. I think I take away three salient thoughts from our discussions on relations with developing countries. The first is that we share many of the problems of the world economy with them—the need to develop energy resources, to encourage investment, to fight inflation and unemployment, and to expand trade. All of these things we share with them. The second thing that we share is that we welcome discussion with them in whatever ways or groups are useful. And the third is, we must pay particular regard to the needs of the poorer countries. We agreed to direct a major portion of our aid to the poorer countries, and I would like to stress that the United Kingdom has a particularly good record on that.

Thirdly, a few comments about the Middle East. We have been meeting in the shadow of a further outbreak of fierce fighting in the Middle East. Once again, the unfortunate people of Lebanon are bearing the brunt of a conflict that is not of their seeking. And whatever any of us may think about the causes, we all agree on the need for an urgent cease-fire in Lebanon, for an end to the loss of innocent civilian life there and, above all, for a solution to the conflict between Arabs and Israel from which this violence flows. In the United Kingdom, we shall continue to use all our influence for this purpose.

And the last issue on which I'd like to comment—East-West relations. We discussed this scene and the concern that we all feel about the extent of the Soviet military threat to our interests. Speaking for Britain, I've been heartened by the strength of common purpose that I sensed in our discussions. We all agreed, and we agreed with real determination, on the need to maintain a strong defense capability and to insist on the need for military balance. Of course, that goes hand-in-hand with our readiness to negotiate arms control agreements that will ensure genuine security at a lower level of weaponry and resources.

So, Mr. Chairman, our discussions have linked the two aspects of the preservation of the free world and the free market economy which sustains it, namely, defense and the maintenance of peace and the health and soundness of the world economy. Altogether, a very successful summit on which you, Mr. Chairman, and Canada deserve our thanks and congratulations.

Thank you.

Prime Minister Trudeau. Ms. Thatcher, thank you. I will now call on the Prime Minister of Japan, Prime Minister Suzuki.

Prime Minister Suzuki. Thank you, Mr. Chairman. For this most successful conclusion of this Ottawa Summit, we are indebted to the outstanding chairmanship of Prime Minister Trudeau and the most generous cooperation by the Government of Canada. I am grateful, Mr. Prime Minister, beyond expression.

The fundamental task of summitry, particularly this summit, is for us to deal with political and economic difficulties that threaten the peace and the prosperity of the world. It is in this sense that as the sole representative having crossed the Pacific Ocean to join this summitry, to say that the nations of Asia and the Pacific also have much expectation of and interest in this summit.

Now, as regards the fruits of this summit, there have been many fruits—on East-West relations, North-South issues, and various problems that face all of us in the West within us. We have committed ourselves and expressed this commitment that we should tackle these problems with a common perception and sense of common objectives in a way that befits our respective nations and its strength and circumstances.

Another fruit is that we have felt strongly that we should demonstrate that the Western political, economic, and social institutions are superior to those in the East. And also to step up our cooperation with the Third World and pledging ourselves to the steadfast maintenance of free trade institutions is a most important fruit out of this summit. I believe this is indeed the message from Ottawa to the world.

Our participants have expressed our solidarity and cooperation and this strong expression, I believe, is a most valuable and irreplaceable achievement of this summit.

Above all, I am satisfied that we have been able to build friendship and mutual confidence among us, the leaders of these summit nations.

The North-South question was an important item on our agenda. We have been united in recognition that our interdependence in international community is becoming more important than ever, and we have committed to further expand official development assistance.

In conclusion, I would like to say that for this most successful summit conference, I am again grateful to Prime Minister Trudeau personally and to the people of Canada for their most generous support and cooperation and, with that note of thanks, I would like to conclude my comments.

Thank you.

Prime Minister Trudeau. I now give the floor to the President of the Council of the Italian Republic, Mr. Spadolini.

Prime Minister Spadolini. The Government of the Italian Republic is very grateful to the Canadian Government and in particular to Prime Minister Trudeau, who was the animator and coordinator of our discussion, for the perfect organization of this summit meeting of the main industrial countries of the Western world—a summit meeting which has coincided with one of the most difficult periods of the Western industrial countries and after many events which have affected our countries, which has had an impact on all our countries and which have made it necessary to search for new points of view and coordinated views.

In this case, also, as in the past, the work of the summit meeting developed in a spirit of civil and constructive confrontation and a frame of tolerance and a mutual understanding within a frame of a common understanding of our pluralistic, complex society, which is shaken by serious events. In a short period of time, the societies we have constructed on the basis of a reliance on and a firm belief in our values have gone over to uncertainty and doubt. And it is our responsibility to interpret and to understand the reasons for these upheavals, which are affecting the very foundation of our societies, in order to revitalize our societies and to broaden consensus and trust in our political democratic institutions based on stability of our economy and the social progress.

The Italian Government has explained its own policy in the field of economics, and social policies as well, which is aimed at controlling inflation through a range of initiatives and activities aimed at reducing the cost—government costs—and conciliating the interests of unions and management, just as all of the nations participating in these matters. We are convinced that we must defeat this monster of inflation and unemployment since they absorb ever-increasing resources and leave very little room for productive investments.

We consider it very significant that the joint communique refers explicitly to the common desire of the seven governments that the fluctuations of interest rates cause difficulties for other countries in pursuing their affairs. The problem of foreign exchange and stability of markets is considered very important for the proper and consistent development of our economies.

We have also dealt with the problems of energy and the dialog—the North-South dialog. We have emphasized our interest in developing alternative sources of energy, starting with nuclear energy.

As regards the problems affecting our societies, many derived from the need to find a common measure between industrialized countries and developing countries, mindful of the mutual interdependence of the summit, has made forward progress in this. We are well aware that developing countries, that is to say, the Third World, their public debt has reached proportions which can no longer be sustained, and therefore, there is an urgent need to provide aid to those countries so that they will not be burdened with further debts. And we have given appropriate priority to the harmonious development of relations between the North and South. And if we forego this need, we would be abdicating our own responsibility as regards peoples who are faced with those problems of underdevelopment and hunger. That is why we have proposed that Italy should assume, as soon as possible, in concert with the European economy, the development of specific proposals for action in the field of food and agriculture, in coordination with the international agencies in Rome and that should—priority interest should be devoted to those countries. One of the results of our summit meeting has been to unite our bonds even stronger on the basis of effective common activities and pursuits beyond all rhetoric and ritual. And this is a battle which, as Chancellor Schmidt indicated, is of essential importance.

Italy reaffirms, just as France, as Prime Minister Mitterrand, its solidarity with the Western powers in the knowledge and that there is a close link between Europe and the United States, and this has been again confirmed by President Reagan. And we may say that this is a great satisfaction for us to observe that we have—there are many common points on which we have agreed—social justice, international peace, and other items are all indivisible problems for us.

Prime Minister Trudeau. I now give the floor to the President of the European Community, Mr. Gaston Thorn.

President Thorn. Thank you, Mr. Chairman. I'm sure it's no exaggeration to be the seventh to thank you. And I would like to say that the heads of state and of governments represented here have decided to start up a new cycle, a second cycle of summits. And they have done so because the results quite justify such a second cycle. This is because the conference was very well prepared, of course, and also because the welcome extended by Canada and the beautiful site at which the conference took place favored such success. Moreover, Prime Minister Trudeau had taken up the pilgrim staff and had made sure that debates be restricted as much as possible, that as many results be achieved as possible.

Speaking on behalf of the Community, on behalf of the Commission of the European Communities, I'm not speaking at the same level and not speaking on behalf—for example, I'm not wishing to take the place of Mrs. Thatcher, who's President of the Council at the time being.

But I would like to say that the Community, particularly countries not represented at the summit, wish to be heard, wish to speak. And we have been heard. It has been sufficiently often said that times are very hard. They are particularly hard for the European Community. Why is this so? Well, because in terms of trade, we are more vulnerable than anybody else—we depend much more on foreign trade—and also because, in monetary terms, our interdependence is greater and, thus, perhaps we suffer more greatly from the repercussions of policies carried out in other industrialized countries. Moreover, perhaps our commitment is greater towards the Third World, since we are committed to the Lomb Convention, for example, which binds us to a large number of Third World countries.

It has been said that it was important for us to get to know each other. It was particularly important through personal contact to become aware of the limits of everybody, to understand why perhaps each of us have adopted somewhat different attitudes. I think that once this understanding exists, there should no longer be any unclarity among ourselves. We understand the essential points. We agree, although we do, all of us, understand that sometimes we have to act differently. We agree that trade at the world level must remain open, that protectionism is something we all should avoid, it being fully understood that free trade is a common rule that has to be respected by everybody, and this is why another conference at the ministerial level will perhaps be organized.

Now, we also understand why the United States follows a certain policy while other countries adopt another policy, and we have to see, as the Chancellor of Germany has just said, we have to—we will have to see how each of us will have to react to the results of this conference between us. You will have to react as well, of course.

Finally, I would like to say that I'm very happy that during this summit of the industrialized nations we did not concern ourselves only with industrialized nations. We dealt also with other countries, with the developing countries, not for reasons of charity but because we know that the future of those countries will play an important part in our own future. And I am happy on behalf of the European Community to be able to see that on this point people have moved closer together and that dialog, perhaps even global negotiations, and perhaps even the energy affiliate, on all these points I think that we have achieved greater agreement. We are happy to see that concerning substantive matters we all agree. And once again, I would like to thank Canada warmly for their excellent organization of this summit.

Thank you.

Prime Minister Trudeau. Thank you, Mr. President of the European Community.

Ladies and gentlemen, this ends the meeting we have with the press. I believe the press of the various countries will have some occasion to meet the heads of state or government of its own country. At this time, however, we adjourn this meeting.

Merci beaucoup.