text: insufficient positive results. Itisfurther aggravated bycontinued prohibitive tariff andnon-tariff barrier policies evenwheretreaties forco-operation explicitly callfortradeliberalization withinthepreferential tradeareas. The problem ofcontinued dominance ofprimary commodity exports inAfrica's external tradeandthelackofdiversification continue tobeamajorobstacle in international trade. Thelackofup-to-date andreliable tradestatistics and information, aswellasinadequate marketing strategies andexporttechniques, also constitute apriority problem tobeaddressed. 30.84 Theobjectives ofthesubprogramme are: (a)Toenhance Africa's tradesectorthrough theadoption ofappropriate measures, policies andstrategies fortheexpansion ofdomestic, regional and external trade; -20-- Digitized by Dag Hammarskjöld Library(b)Tostrengthen existing institutions forsubregional tradeco-operation by making themmoreoperational andresponsive toAfrica's traderequirements andhelp harmonize theirnegotiating positions inallinternational conferences ontrade. (b)CourseofactionoftheSecretariat 30.85 Thestrategy fortheperiod 1992-1997 ofthemedium-term plan significantly different fromthatelaborated inthepresent period. institution-building process fortradepromotion andco-operation is completed andnewefforts willbedirected towards thestrengthening capabilities ofthoseinstitutions.willbe The abouttobe ofoperational 30.86Priority willbegiventosupporting thedevelopment ofimport-substitution policies, marketresearch, demand andsupplyanalysis andtradefacilitation atthe country, regional andinterregional levels. Thesecretariat willdisseminate the findings ofstudies andanalyses, inparticular through seminars, workshops and symposia. Thesecretariat willassisttheCommission indeveloping aggressive tradepromotion strategies andmechanisms toimprove theexportperformance ofthe African countries andimprove theforeign exchange capabilities, strengthening existing tradeinstitutions atthenational andsubregional levelthrough, interalia,specific-targeted training andskillsupgrading programmes inthefield oftrade. SUBPROGRAMME 12.MONETARY ANDFINANCIAL POLICIES ANDSTRATEGIES (a)Objectives 30.87 Thelegislative authority forthesubprogramme derives fromGeneral Assembly, Economic andSocial Council andEconomic Commission forAfrica resolutions, themostrecent andpertinent ofwhichareAssembly resolutions 43/198 and44/205; Council resolution 1988/7; andCommission resolution 619(XXII). 30.88 Duringthe1980s,theAfrican monetary andfinancial situation had deteriorated toapointwhereexisting policies, structures andinstitutions were unabletosupport reasonable orsustained ratesofgrowth anddevelopment. Although manyfinancial andmonetary institutions hadbeencreated and'are operational, theECAmembers are,inpractice, notrelying onorusingthemto provide technical support andadvisory services inthatarea. Themonetary and financial situation ischaracterized byalargedevelopment financing gap, increased accumulated arrears indebtservicing andtheoverall debtstock, anda general inability tocopewithanincreasingly lessfavourable international monetary andfinancial environment. Thesubregiona1 monetary andfinancial institutions, particularly inrespect ofpayments andclearing arrangements, are tooweakandineffective toprovide thesupport required inthatareabymember States. 30.89 Theobjectives ofthesubprogramme aretoassist: (a)Inthepromotion oforderly andeffective monetary andfinancial co-operation atthesubregional andregional levels, asameansofenhancing better management ofresources, including external debt; -21-
analysis: The text discusses the economic development of Africa, specifically the challenges faced in international trade and the need for monetary and financial policies and strategies to address these issues. It highlights the importance of promoting trade, strengthening institutions, and improving the management of resources.