TOKYO. Nov 10: Japanese Prime Minister Morihiro Hosokawa blames Europe as the stumbling block to a swift conclusion to the Uruguay Round of world trade talks, according to a newspaper interview here today, reports AFP.

Hosokawa also said Japan would not make any new trade initiatives until the United States and Europe settle their differences, he told the Japanese economic daily Nihon Kelzal.

"The biggest obstacle Is the European Community." Hosokawa said, adding also that “the United States offers have not Improved at all."

According to the Japanese Prime Minister, "the EC is trying to blame the United States for its alleged problems with the textile trade, or Japan for its difficulties with the leather trade, when in fact (the EC) cannot budge an inch because of conflicts within its member stales, as well as with the

United States over its joint farm accord."

Under these circumstances, Hosokawa said, "it's hard to imagine us (Japan) crossing a bridge before everyone else."

And he said Japan would maintain its policy of severely limiting rice Imports, which is seen as crop-vital to the country's interest. Japan opposes portions of the General Agreement on Tariffs and Trade ( GATT) that would force it to lift barriers to imported rice.

The 12 members of the European Economic Community hardened this week their tone towards the United States and Japan, pressing them to negotiate more actively in GATT to reach the outlines of an agreement by the end of November.

Deal may add $ 274b a yr to world welfare Another report adds from Paris : The OECD, an economic

think-tank grouping 22 wealthy nations, yesterday stepped up the pressure on them to reach a world trade deal by publishing a report saying an accord could unlock 274 billion US dollar in annual revenues.

Jean-Claude Paye, Secretary-Genera) of the Paris-based Organisation for Economic Cooperation and Development, told a news conference that he took personal responsibility for a free trade deal nears, of the full scope of what was at stake.

The report said failure to conclude the Uruguay Round of trade talks — held under the General Agreement on Tariffs and Trade (GATT) — would be a major setback for the world econo my.

C'wealth ministers for

accord by Dec 15

Reuter says from Brussels: Commonwealth ministers stressed yesterday the urgent need to conclude a global agreement

to liberalise world trade by the deadline of December 15, reports Reuter.

Ministers from Barbados, Malaysia and Mauritius were on the second stage of a tour of key participants in the Uruguay Round of GATT world trade talks.

"If the Uruguay Round is completed, confidence In the world economy will be restored." Barbadian Foreign Minister Branford Taltt told a press briefing after talks with EC Trade Commissioner Sir Leon Brittan.

The diabolical situation of joblessness can't continue — it's sucking the life blood out of' the economy,' he added.

The Commonwealth mission was set up at a summit of the 50-member association In Cyprus last month to press the need for a “comprehensive, equitable and- balanced” world trade agreement to stimulate Economic growth and development.