Report asked on new 'agenda for development'; market reforms, trade discussed in debate.

How best to address the turbulent and changing world economic situation was the thrust of much of the work of the Second Committee (Economic and Financial). Recommended for General Assembly adoption were 50 resolutions and 15 decisions on a wide spectrum of economic and development issues, including a call for work on a new "agenda for development", as proposed by the Secretary-General.

The Assembly, citing the "unique position" of the Organization as a forum for the promotion of international cooperation for development, asked (resolution 47/181) for a report in 1993 on ways to enhance the UN role and the relationship between the UN and the Bretton Woods institutions--the World Bank and the international Monetary Fund--in that area.

A new "agenda for development"--an integrated approach to a wide range of issues to be promoted through a stronger UN--was proposed by the Secretary-General in his annual report to the Assembly. To help formulate such a text, the world body requested a detailed list of substantive themes and areas to be addressed.

Among other Committee highlights were action on global conferences on human settlements, population and small island States, food and environment problems, trade and commodities, and the continuing debt crisis.

Support was sought for the goals of the 1990 Declaration on international Economic Cooperation, the international Development Strategy for the Fourth UN Development Decade, and the Programme of Action for the Least Developed Countries for the 1990s.

The Assembly, citing "fundamental changes" in countries transforming their economies from centrally-planned to market-oriented ones, called (47/187) for a report on the U N's role in addressing problems facing the "economies in transition". While recognizing the need for international development assistance to support this economic reform, the Assembly urged (47/175) developed countries and multilateral financial institutions to ensure that such support did not reduce or divert aid from developing countries.

"The full integration of the economies in transition into the world economy should have a positive impact on world trade, economic growth and development, including that of the developing countries", the Assembly stated.

In a report (A/47/403) on the impact of the evolution of East-West relations on global growth and development, the Secretary-General concluded that for most developing countries, events in Eastern Europe and in former Soviet republics had not so far had any substantial negative impact, for example, through heightened trade competition or a deflection of foreign direct investment.

The vast majority of developing countries was unlikely to suffer significantly because of transformations in the East, unless an "utter calamity" occurred in these transition economies.

The Assembly also called (47/171) for exchange of information and research to help increase economic efficiency, growth and sustainable development through privatization, demonopolization, administrative deregulation of economic activities and other relevant policies.

Poland said, in debate, that the cause of the unprecedented fall in the world output of goods and services was the continued decline of production in the countries in transition, amounting to some 30 per cent over the past two years.

Trade, commodities

Linking market reform and international trade, Pakistan, on behalf of the "Group of 77" developing countries, said that developed countries, which constantly urged the developing world to adopt "market-oriented economies", were obstructing third-world products by their tariff and trade barriers.

The Assembly endorsed (47/183) the "New Partnership for Development: The Cartegena Commitment", adopted at the eighth session of the UN Conference on Trade and Development (UNCTAD VIII), held in February 1992 in Cartegena de Indias, Colombia.

It welcomed far-reaching institutional reforms approved by UNCTAD VIII and the agreement to refocus substantive work on four areas: a new partnership for development; global interdependence; paths to development: and sustainable development.

The convening of a UN international symposium on trade efficiency in 1994 was endorsed, as well as continuing UNCTAD consultations on an international code of conduct on the transfer of technology (47/182).

Concern was expressed (47/184) over the not-yet-concluded Uruguay Round of multilateral trade negotiations. Producers and consumers of individual commodities were urged (47/185) to participate actively in international commodity agreements and arrangements that take into account market trends, in order to achieve more efficient international commodity cooperation. Forthcoming UNCRAD consultations on convening a world conference on commodities were noted.

According to the Assembly (47/178), major industrialized countries, which influence world economic growth and the international economic environment, should continue efforts to "narrow imbalances", so that developing countries are better able to alleviate their major problems in the areas of money, finance, resource flows, trade, commodities and external indebtedness.

It suggested ways to reactivate economic growth and sustainable development in developing countries, including: increasing financial flows from developed countries; adopting national measures conducive to capital formation; solving the external debt problem; and seeking greater stability in financial markets.

"After a decade of international debt crisis", the Secretary-General reported (A/47/396), the outlook was finally improving. However, considerable work remained in the international debt policy arena as, for example, there was no formal mechanism to restructure the debt owed to multilateral creditors.

The Assembly welcomed (47/198) the conclusion of certain agreements on commercial bank debt and debt-service reduction under the evolving international debt strategy, as well as the write-off of a significant part of the bilateral official debt by certain donors to the least developed countries, and expressed appreciation for recent initiatives of developed countries to address the debt problems of some middle-income African countries.

The world body stressed the need for additional debt-relief measures relating to both official and commercial debts owed by developing countries, and the urgent need to provide a "social safety net" to vulnerable groups most adversely affected by the implementation of economic reform programmes in debtor countries, particularly low-income groups, to ensure social and political stability.

Two texts were adopted on eradication of poverty. By resolution 47/197, the Assembly urged developed countries to augment their aid programmes to reach the UN-set target of 0.7 per cent of gross national product for official development assistance. In resolution 47/196, the world body declared 17 October as International Day for the Eradication of Poverty.

The Assembly also adopted (47/177) the programme for the Second Industrial Development Decade for Africa and adjusted the programme period to 1993-2002. It noted efforts in Africa "to establish an environment to attract domestic and foreign investment" and urged an integrated approach to implementing the programme. It appealed to the international community to increase significantly its contributions to the African countries' industrial sector.

UN organizations, in particular the UN Industrial Development Organization, were called upon (47/153) to take into account in their programmes and activities their commitments to sustainable development, agreed upon at the UN Conference on Environment and development.

The Assembly stressed (47/149) the importance of stimulating food and agricultural production in developing countries, noting the fact that hunger and malnutrition had been increasing in many areas, particularly in Africa, and world food production had fallen in 1991--the first global decline since 1983. To promote fairer trade, a balanced and successful outcome of the Uruguay Round was needed. The report (A/47/19) of the World Food Council (WFC) was noted. It estimated the number of the chronically hungry in the developing world at more than 550 million and was growing in most regions at a time when global food supply was under pressure.

Citing the urgent need for a more effective UN response to world food and hunger problems, the Assembly noted with concern (47/150) that, despite the WFC's efforts and by its own admission, it had not been able to achieve political leadership and coordination to the extent expected by its founders. The Council was invited to consider its mandate and functions within the context of the overall restructuring of the social and economic activities of the UN system.

The adoption of the Geneva Declaration for Rural Women by the Summit on the Economic Advancement of Rural Women was welcomed (47/174).

In a text (47/40) on acquired immune deficiency syndrome (AIDS), the Assembly invited the Director-General of the World Health Organization to report biennially, starting in 1993, on progress in implementing the global strategy for the prevention and control of AIDS.

World conferences acted on

By resolution 47/180, the General Assembly decided to convene the UN Conference on Human Settlements (Habitat II) from 3 to 14 June 1996 at the highest possible level of participation. The conference, to be held in Turkey, is to review global trends in the development of human settlements and conduct a mid-term review of the implementation of the Global Strategy for Shelter to the Year 2000, among other things.

The Assembly also welcomed (47/186) the decision to convene a global conference on the sustainable development of small island developing States in 1994.

Egypt's offer to host in 1994 the International Conference on Population and Development was endorsed (47/176).