text: ration should be brought to an end without further delay. 8. The Group of 77 believed that the position taken by the business community in the course of the public hearings, to the effect that apartheid was morally indefensible, economically counterproduc­ tive and irreconciliable with the principles of free enterprise, should be followed by practical action. **See 5th meeting, paras. 3 and 4. activities of transnational corporations in South Africa and Namibia" (E/1986/L.l4) should serve as an input for the World Conference on Sanctions against Racist South Africa, to be held in June in Paris. Unfortunately, the Commission on Transna­ tional Corporations had not been able to adopt that resolution by consensus in spite of the political declarations made by member countries against the system of apartheid and the illegal occupation of Namibia. AGENDA ITEM 2 Implementation of the Programme of Action for the Second Decade to Combat Racism and Racial Discrimination (continued) (E/1986/14 and Add.1, E/1986/15, E/1986/53) 10. Mr. THORSTEINSSON (Iceland), speaking on behalf of the five Nordic countries, said that racial discrimination had always existed throughout history but for the first time significant inroads had been made against that phenomenon, including the imple­ mentation of United Nations instruments on human rights. 11. South Africa was the only country which did not recognize the principle of racial equality and had thus unleashed a wave of violence against innocent victims. The Nordic countries held the view that the policy of apartheid was a threat to international peace and security and they had adopted both international and unilateral action against South Africa. The most recent was the Nordic Programme of Action adopted at Oslo in October 1985. Under that Programme, new investments by the Nordic countries in South Africa were prohibited; measures had been introduced to reduce or eliminate trade 
analysis: The text appears to be discussing a political and economic issue, specifically the implementation of a program to combat racism and racial discrimination in South Africa, and the role of transnational corporations in the country. The language used is formal and diplomatic, suggesting that it is a report or statement from a United Nations meeting or commission.