INTERNATIONAL BRIEFS

INTERNATIONAL BRIEFS

EXPANSION OF PREFERENCE

URGED FOR THIRD WORLDGENEVA - Industrial and developing countries on Tuesday adopted a resolution that endorsed the need to expand preferential treatment for Third World exports.

The resolution was adopted by 80 nations at the end of a nine-day meeting of a special committee of the United Nations Conference on Trade and Development.

Also, wealthier nations were urged to "consider granting deeper tariff cuts aimed, where possible, at duty-free treatment under the GSP."

SOVIET COUNCIL OKS

MARKET ECONOMY PLAN

MOSCOW - President Mikhail Gorbachev's top advisory council approved a plan Tuesday to gradually shift the increasingly troubled Soviet economy from central planning to a regulated free market.

The announcement of the plan had been delayed for weeks, creating rumors of sharp priceincreases and massive job cuts.

"The presidential council, which met today, adopted a program to lead the country toward a market economy," Foreign Ministry spokesman Gennady Gerasimov told a news conference.

CHINESE REJECT

TAIWANESE OVERTURES

BEIJING - China Tuesday bluntly rejected proposals by Taiwan's newly inaugurated President Lee Teng-hui to open full relations with Beijing, accusing him of setting impossible conditions.

In its first response to Mr. Lee's radical inauguration speech on Sunday, China reiterated its position that Beijing was "the sole, legitimate government representing all Chinese people."

AUSTRALIA ALLOWS BID

FOR NEW ZEALAND STEEL

SYDNEY, Australia - The Australian Trade Practices Commission withdrew its court action against a BHP consortium's bid for New Zealand Steel, the Sydney Morning Herald reported Tuesday.

The commission's move follows a BHP agreement to allow New Zealand Steel to operate independently and to keep the commission aware of any changes to its shareholding in the company.

But since the agreement is only binding for five years, BHP could still make New Zealand Steel a subsidiary after that time, the newspaper reported.