TNAG-1722-FCO40-2415-Future-of-Hong-Kong-Basic-Law-1988 — Page 88

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General Assembly-Seventeenth Session

1785 (XVII). United Nations Conference on Trade and Development

The General Assembly,

Recalling its resolution 1707 (XVI) of 19 December 1961 entitled "International trade as the primary instru- ment for economic development”,

Taking note of Economic and Social Council reso- lution 917 (XXXIV) of 3 August 1962 on the United Nations Conference on Trade and Development,

Convinced that economic and social progress through- out the world depends in large measure on a steady expansion in international trade,

Considering that the extensive development of equi- table and mutually advantageous international trade creates a good basis for the establishment of neigh- bourly relations between States, helps to strengthen peace and an atmosphere of mutual confidence and understanding among nations and promotes higher living standards, full employment and more rapid eco- nomic progress in all countries of the world,

Convinced further that accelerated economic devel- opment of the developing countries depends largely on a substantial increase in their share in international trade,

Noting that the terms of trade continue to operate to the disadvantage of the developing countries, thus accentuating their unfavourable balance-of-payments position and reducing their capacity to import,

Bearing in mind that exports of a relatively limited range of primary commodities constitute a major source of foreign exchange for the developing countries and, consequently, are basic for their development,

Conscious of the serious problems both of a short- term and a long-term nature which confront the devel- oping countries as a result of the depression of, and fluctuations in, the prices of primary commodities,

Mindful of the need to eliminate obstacles, restric- tions and discriminatory practices in world trade which, in particular, adversely affect the necessary expansion and diversification of the exports of primary com- modities and of semi-manufactured and manufactured goods by the developing countries,

Considering the importance of all countries and all regional and sub-regional economic groupings pursuing trade policies designed to facilitate the necessary ex- pansion of trade of developing countries and encourag- ing the indispensable growth of their economies,

Convinced that the promotion of higher rates of eco- nomic growth throughout the world and the evolution of a new and more appropriate pattern of international trade will require the adaptation of the institutional framework for international co-operation in the field of trade,

1. Endorses the decision of the Economic and Social Council in its resolution 917 (XXXIV) to convene a United Nations Conference on Trade and Devel- opment;

2. Recommends the Economic and Social Council at its resumed thirty-fourth session:

(a) To enlarge by twelve members the Preparatory Committee provided for by the Council in resolution 917 (XXXIV), with due regard to equitable geo- graphical distribution and to an adequate representation of developing and major trading countries;

(b) To convene the first session of the Committee by January 1963 so that the Committee will be able to submit an interim report to the Council at its thirty- fifth session;

(c) To convene the resumed session of the Com- mittee immediately after the thirty-fifth session of the Council so that the Committee will be able to report to the Council at its thirty-sixth session;

3. Recommends further the Economic and Social Council to convene, after consideration of the prepara- tory work, the United Nations Conference on Trade and Development, as soon as possible after the thirty- sixth session of the Council to be held in July 1963, but in no event later than early 1964, taking into account the view expressed by a large number of dele- gations that the Conference should be convened not later than September 1963 as well as the view of other delegations that the Conference should be held in early 1964;

4. Requests the Secretary-General:

(a) To invite all States Members of the United Nations and members of the specialized agencies and of the International Atomic Energy Agency to take part in the Conference;

(b) To appoint a secretary-general of the Con- ference;

(c) To assist the Preparatory Committee by pro- viding the necessary documentation in connexion with the Conference, on the lines indicated in Economic and Social Council resolution 917 (XXXIV) and in the discussions at the seventeenth session of the General Assembly;

5. Recommends the Economic and Social Council and the Preparatory Committee, in drawing up the draft agenda of the Conference referred to in paragraph 3 above, to take into consideration the following funda- mental points:

(a) The need for increasing the trade of developing countries in primary commodities as well as in semi- manufactured and manufactured goods so as to ensure a rapid expansion of their export earnings and, for that purpose, to examine the possibility of taking measures and reformulating principles with a view to:

(i) Increasing trade between the developing and developed countries, irrespective of the differ- ences in the foreign trade systems of the latter; (ii) Intensifying trade relations among the develop-

ing countries;

(iii) Diversifying the trade of developing countries; (iv) Financing the international trade of developing

countries;

(b) Measures for ensuring stable, equitable and remunerative prices and the rising demand for exports of developing countries, including, inter alia:

(i) The stabilization of prices of primary commodi- ties at equitable and remunerative levels; (ii) The increase in consumption of products im

ported from primary-producing countries and of semi-manufactured and manufactured goods imported from developing countries; (iii) International commodity agreements; (iv) International compensatory financing; (c) Measures leading to the gradual removal of tariff, non-tariff or other trade barriers by industrialized countries, whether individually or collectively, which