28 July 1989

37th plenary meeting

International economic co-operation towards common approaches to development

The Economic and Social Council,

Taking into account the need for shared responsibility for the sound development of the world economy,

Considering the growing trend towards a new international consensus on growth and development through revived multilateral dialogue aimed at enhancing economic co-operation in recognition of growing global interdependence and in conformity with the interests of the international community,

Convinced that efforts to secure a more supportive economic environment conducive to sustained growth and development, in particular in the developing countries, are essential,

Conscious of the role of the United Nations in promoting continued co-operative efforts towards the revitalization of development within a multilateral framework involving all States and in stimulating common approaches to international economic issues, as exemplified by the results of the seventh session of the United Nations Conference on Trade and Development,

Expecting that such approaches will be generated when the General Assembly at its special session in 1990 establishes guidelines for international economic relations in the 1990s and beyond,

1. Notes with deep concern that external indebtedness and persistent poverty continue to affect the majority of the developing countries;

2. Also notes that in certain developing countries the economic situation has been exacerbated, inter alia, by natural disasters affecting hundreds of millions of people and that in other developing countries encouraging rates of economic growth have been achieved;

3. Appeals to Governments to continue to utilize the United Nations system to strengthen further the spirit of solidarity necessary for the resolution of key development problems;

4. Requests the Secretary-General to keep these matters under review and to report, as appropriate, to the General Assembly on the progress achieved.