28 July 1989

37th plenary meeting

Strengthening multilateral co-operation in international economic affairs

The Economic and Social Council,

Firmly rejecting trends towards unilateralism and discrimination in world economic affairs,

Seriously concerned at the effect of such trends on the multilateral trading system, based on the principles of the General Agreement on Tariffs and Trade, in particular the fundamental principle of non-discrimination, and on the achievement of the objectives of the Uruguay Round of multilateral trade negotiations,

Concerned also at the persistence of structural imbalances in the world economy and stressing the need to reduce them, so as to provide an international economic environment more supportive of renewed and sustained growth and development,

Bearing in mind the co-ordinating functions of the Economic and Social Council in relation to all the organs, organizations and bodies of the United Nations system, in accordance with Articles 62 and 63 of the Charter of the United Nations,

1. Acknowledges the need to continue to strengthen multilateralism as the foundation for international economic co-operation in order to create a supportive international economic environment for sustained growth and development world wide;

2. Affirms the need for in-depth discussion, in the appropriate international institutions, of questions relating to the co-ordination of macro-economic policies;

3. Requests the Secretary-General to include in his report to the Preparatory Committee of the Whole for the Special Session of the General Assembly Devoted to International Economic Co-operation, in Particular to the Revitalization of Economic Growth and Development of the Developing Countries, a comprehensive analysis of ways and means of strengthening multilateral co-operation in international economic relations, including the role of the United Nations, taking into account, inter alia, the views expressed at the second regular session of 1989 of the Economic and Social Council on changes and imbalances in the world economy and their impact on international economic co-operation, and to report thereon to the Council at its second regular session of 1990 in the light of the outcome of the special session of the General Assembly.