COMMON MARKET (Further Statement)

Mr David Marshall asked the Minister for Finance whether he has any further statement to make as regards the proposed Common Market with the Federation of Malaya.

Dr Goh Keng Swee: Mr Speaker, a team of international experts is now being assembled to undertake the study and the Government hopes to be able to announce shortly the names of the team and the eminent international expert who will lead it. As I said before, these arrangements are being made by the Federation Government who have kept us continuously informed of progress. Any public statement will have to be timed with that of the Federation Government.

In passing, I may say that the Common Market, which we all want, presupposes merger with the Federation. If by some unimaginable mischance, merger is thwarted through the machinations of the Communists and their stooges, then Singapore can say goodbye to the Common Market. The fact that this international mission will soon proceed with their work shows that there is confidence, not only in Singapore and the Federation, but also in the world outside that merger will before long be an accomplished fact.

Mr David Marshall: I would ask the Minister for Finance whether he has forgotten that in 1959 in this House he promised the people of Singapore a Common Market in the near future without any reference to merger.

Dr Goh Keng Swee: Mr Speaker. Sir, the European Common Market took morel than 15 years to be established. What the Member for Anson says just underlines my emphasis on the connection between Common Market and merger. In 1959, there was no prospect of merger, and consequently our discussions with the Federation got bogged down fairly soon. Now that merger is on the horizon, it becomes much easier to discuss these matters with the Federation Government. Therefore, if the Member for Anson is anxious to see a Common Market between Singapore and the Federation, then he must spend all his energies to bring about a speedy merger between the two territories.