Shultz urges new effort to aid the third world

Secretary of State George Shultz called for a new international effort to liberalize trade that would help pull third world countries out of their economic plight.

His speech to the Foreign Policy Association in New York was billed in advance by his aides here as a major one setting out the Reagan administration's economic philosophy. He urged reduction of North-South trade barriers and continued efforts to preserve developing nations' ability to import new capital.