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From 30 June to 2 July some 200 representatives of business, academia and government, from both Western and Eastern countries, participated in the 22nd annual NATO Economics Colloquium on "Economic Developments in Cooperation Partner Countries from a Sectoral Perspective". Over 30 speakers presented formal papers on sectoral developments in the countries of Central and Eastern Europe, including the former Soviet Union. Half the speakers were represen- tatives of Cooperation Partner countries, under the auspices of the North Atlantic Co-operation Council (NACC) Work Plan for 1993. The keynote speech was delivered by the former Polish Finance Minister and distinguished reform economist, Mr. Leszek Balcerowicz. In his address he noted that successful reform will differ in Partner countries, depending on initial internal and external conditions. However, all countries must undertake a certain degree of risk, for the option of a "no risk" policy does not exist. In his view, a radical reform policy is more likely to achieve success. He stated that it is trade, not aid, which guarantees a lasting partnership with Western countries. Presentations and discussions over the three days ranged from factors of internal stability like living standards, social welfare and employment to specific critical areas of industrial restructuring and defence conversion and energy supplies. One panel examined the potential for instabilities arising from demographic developments and ethnic tensions, which might give rise to large-scale migrations of people. Potential environmental threats, including nuclear safety problems, were examined by another panel. In both cases there was agreement that continuing attention should be given to these sensitive areas. The sectoral approach to examination of current economic developments and reforms in Partner countries more clearly illustrated the close linkages between these developments and political and social stability. Overall the Colloquium provided a major venue for a free exchange of views among participants. The presence of a substantial number of eminent speakers from Cooperation Partner countries greatly enriched the exchanges. The conference results will fertilize the future economic dialogue and co-operation within the framework of the North Atlantic Co-operation Council.