WEST ASIA-Isolation of Egypt


sent low prices of copper have been preventing investment in capacity expansion; and yet, at the same time, it is feared that a shortage is likely in about 7-8 years' time, unless investment commences immediately in view of the long gestation periods. This element in the Community proposal, thus, is aimed at reassuring investors that if prices fall too low, there would be some finance forthcoming to hold stocks; but the proposal is circumscribed in such a way that it cannot be made use of for price enhancement or even stabilisation in the manner of the Common Fund, (c) Provision for training of personnel in the production of minerals and for a scheme by which the assets of the investing companies can be guaranteed. The Community wants the ACP countries to guarantee the Community investments against nationalisation or such measures; or, if the ACP countries are not forthcoming with complete assurances on this, the Community wants to devise a sort of insurance .scheme by which it can reassure community investors.