COMMON MARKET TALKS (Progress made)

[Mr SPEAKER in the Chair]

Mr Ong Chang Sam asked the Minister for Finance what progress has been made in the Common Market talks with the Federation of Malaya.

The Parliamentary Secretary to the Minister for Finance (Mr S. Ramaswamy) (for the Minister for Finance): Mr Speaker. Sir, this House has been informed on several occasions that the discussions on a proposed Commodity Common Market between the Governments of the Federation of Malaya and Singapore have concluded with an agreement to submit the matter for further investigation by a body of international experts. That body of international experts, namely, the World Bank Mission headed by Professor Jaques Rueff, is now here and the two Governments are waiting to receive their preliminary recommendations.

Mr Ong Chang Sam (Choa Chu Kang): (In Mandarin): Can the Parliamentary Secretary enlighten this House as to when this delegation from the World Bank can table a report to this House as regards its investigations?

Mr Ramaswamy: The Word Bank Mission is here. They are making investigations and preparing their report.

I cannot say what is the exact date when the report will be submitted.