COMMITTEE SAYS INTERESTS OF NON-WTO STATES MUST BE CONSIDERED IN TRADE LIBERALIZATION CONTEXT

Press Release
GA/EF/2906

COMMITTEE SAYS INTERESTS OF NON-WTO STATES MUST BE CONSIDERED IN TRADE LIBERALIZATION CONTEXT

Two More Development-Related Decisions Approved; Action on Remaining Draft Resolutions Expected Tomorrow

The General Assembly would invite members of the international community to consider the interests of non-members of the World Trade Organization (WTO) in the context of trade liberalization, according to a draft resolution approved without a vote this afternoon by the Second Committee (Economic and Financial).

The text on international trade and development would also have the Assembly deplore any attempt to bypass or undermine multilaterally agreed procedures on the conduct of international trade by unilateral actions inconsistent with multilateral trade rules and regulations, including those agreed upon in the Uruguay Round of multilateral trade negotiations.

Further, the Assembly would request the United Nations Conference on Trade and Development (UNCTAD) to continue to identify and analyze the implications for development of issues relevant to investment, and to identify ways and means to promote foreign direct and portfolio investment to all developing countries and to countries with economies in transition. It would request UNCTAD’s Secretary-General to provide substantive inputs on the role of information and communications technology in trade, finance, investment and related areas to the high-level segment of the Economic and Social Council’s substantive session of 2000.

Two draft decisions, approved without a vote this afternoon, would have the Assembly take note of the reports of the Trade and Development Board on its Nineteenth, Twentieth, Twenty-First and Twenty-Second Executive Sessions, as well as the report of the Secretary-General on the Twenty-First special session of the General Assembly for an overall review and appraisal of the implementation of the Programme of Action of the International Conference on Population and Development.

The representatives of Guyana (on behalf of the Group of 77 developing countries and China), United States, Suriname, Iran, Trinidad and Tobago, Bahrain, Myanmar and the Democratic People’s Republic of Korea spoke this afternoon.

The Committee will meet again at 3 p.m. tomorrow to take action on two remaining draft resolutions.

Committee Work Programme

The Second Committee (Economic and Financial) met this afternoon to take action on a draft resolution and two draft decisions.

Macroeconomic policy questions

The draft resolution on international trade and development (document A/C.2/54/L.36/Rev.1) is sponsored by Guyana (on behalf of the Group of 77 developing countries and China), Finland (on behalf of the European Union), Canada, Japan, Kazakhstan, Mexico, Norway, Republic of Korea, Russian Federation and Belarus. It would have the Assembly deplore any attempt to bypass or undermine multilaterally agreed procedures on the conduct of international trade by unilateral actions inconsistent with multilateral trade rules and regulations, including those agreed upon in the Uruguay Round of multilateral trade negotiations.

The Assembly would invite members of the international community to consider the interests of non-members of the World Trade Organization (WTO) in the context of trade liberalization. It would also invite the international financial institutions to ensure that, in their development cooperation activities with developing countries, the obligations of the latter with regard to their development policies, strategies and programmes in trade and trade-related areas should be consistent with their commitments under the framework of rules agreed within the multilateral trading system.

Further, the Assembly would request the Secretary-General to ensure the initiation by the United Nations Conference on Trade and Development (UNCTAD) of the preparatory process for the final review and appraisal of the implementation of the New Agenda to be held in the year 2002, in particular focusing on market access, diversification and supply capacity, resource flows and external debt, foreign direct and portfolio investment, and access to technology. In that context, it would request the Secretary General to present a report based on the recommendations of the Trade and Development Board on Africa and on measures taken in this regard, with a special emphasis on African trade issues, for the consideration of the Assembly at its fifty-fifth session under the agenda item entitled “International trade and development”.

Also, the Assembly would request the Secretary-General, in scheduling and organizing mandated events on trade and trade-related issues, to promote complementarity in the work of the relevant bodies of the United Nations system and with other international organizations, with the participation of their secretariats and the States Members and observers of the United Nations.

It would request UNCTAD to continue to identify and analyze the implications for development of issues relevant to investment, as well as to identify ways and means to promote foreign direct and portfolio investment to all developing countries, particularly to those most in need, as well as to those countries with economies in transition with similar needs.

In addition, the Assembly would request the Secretary-General of the UNCTAD to provide inputs on the role of information and communications technology in trade, finance, investment and related areas to the high-level segment of the substantive session of 2000 of the Economic and Social Council. By the terms of a draft decision proposed by the Vice-Chairman, Giovanni Brauzzi (Italy) the Assembly would take note of the reports of the Trade and Development Board on its Nineteenth, Twentieth, Twenty-First and Twenty-Second Executive Sessions (document A/54/15 Parts I-IV).

Sustainable development and international economic cooperation

By the terms of a second draft decision proposed by Mr. Brauzzi, the Assembly would take note of the report of the Secretary-General on the twenty-first special session of the General Assembly for an overall review and appraisal of the implementation of the Programme of Action of the International Conference on Population and Development (document A/54/442).

Action on drafts: Macroeconomic policy questions

The Vice-Chairman of the Committee, Giovanni Brauzzi (Italy), introduced the draft resolution entitled “international trade and development”. He noted that the phrase “Small Island Developing States” on the second and third lines of operative paragraph 14 of the draft resolution should be followed by the acronym “(SIDS)”.

The representative of Guyana, speaking on behalf of the Group of 77 developing countries, commended the draft text. He expressed his appreciation to all co-sponsors, and said that Australia and the former Yugoslav Republic of Macedonia had also joined as co-sponsors. He also thanked all partners who had diligently and constructively participated in the negotiations. The quality of those negotiations did indeed augur well for the future, he said.

The Committee approved draft resolution A/C.2/54/L36/Rev.1 without a vote.

The representative of the United States said that in the spirit of cooperation his delegation had joined consensus on the resolution. Many had wished that the resolution had gone further. However, the difficulties that had marked the WTO’s Ministerial Meeting in Seattle persisted. Much work in trade and development had still to be done, particularly in the areas of environment and labour. Consensus in those areas had not been reached. He expressed the hope that the situation would improve in due course.

The representative of Suriname noted that in the last line paragraph 25, “small island developing States” should read “Small Island Developing States (SIDS)”. The Vice-Chairman assured him that his correction would stand.

The Committee then approved the draft decision without a vote.

Mr. Brauzzi said the Secretariat had been informed that had the delegation of Mauritius been present during yesterday’s vote on draft resolution A/C.2/54/L.72, entitled “towards a stable international financial system, responsive to the challenges of development, especially in the developing countries”, it would have voted in favour of the draft.

The representative of Iran said it had expected that the same draft resolution would be adopted without a vote. Unfortunately, that had not been the case. Had Iran been present at the vote, it would have voted in favour of the resolution. The representatives of Trinidad and Tobago, Bahrain, Myanmar and the Democratic People’s Republic of Korea would also have voted in favour of draft text L.72, had they been present.

Sustainable development and international economic cooperation

The Committee approved, without a vote, the draft decision submitted by Mr. Brauzzi, which would have the Assembly take note of the report of the Secretary-General on the Twenty-first session of the General Assembly for an overall review and appraisal of the implementation of the Programme of Action of the International Conference on Population and Development (document A/54/442).

* *** *