text: currently obtained. Asinthepast,hewouldsupport abalanced code.64.Another representative alsoexpressed regret aboutthelackofsubstantive progress onthecodenegotiations andwasconcerned lestthemomentum gained through pastachievements belost.Inhisview,thetextprepared bytheChairman ofthespecial session inthepastyearembraced thediscussions overmanyyearsof negotiating andwasarelatively balanced compromise package thattookinto consideration thepositions oftheparties. Whatwasneededatpresent were constructive proposals toenablethenegotiations toresume. Heattached great importan~e tothefour-point understandings reached bytheenlarged Bureauofthe reconvened special session atitsmeeting in1988,whichcouldbethebasic principles guiding thefuture workonthecodeofconduc~ Hefurther observed thatwiththeincreasing importance offoreign direct investment inworldeconomic activities, theearlyconclusion ofthecodehadbecomeimperative intheinterests ofbothdeveloping anddeveloped countries. 65.Therepresentative speaking onbehalfofthesocialist countries ofEastern Europe members oftheCommission reaffirmed theircommitment toacodeofconduct thatwouldestablish principles andrulesforeliminating thenegative effects of theactivities oftrananational corporations andensuring effective andmaximum contributions oftransnational corporations toeconomic andsocial development. Thedrafttextofthecodeofconduct contained indocument E/l988/39/Add.l reflected theconstructive workovermorethan10yearsofnegotiationc;; l}Jld contained reasonable compromises thatcouldbeconsidered asabasisforthe expeditious conclusion ofworkonthecode. Hereiterated thatthespecial session oftheCommission onTransnational Corporations continued tobethecompetent forum toconclude negotiations onthecode.Infurther expressing theposition ofthe socialist countries' delegations, therepresentative urgedparticipation, without further delay,inconsultations ornegotiations incontinuation oftheworkonthe code.[<Ccomments submitted totheenlarged Bureau bytheVice-Chairman ofthespecial \11,1,1session onbehalfofonegroupofcountries. Heobserved thatasaresultofsuch fjdemands, theopportunity toadvance inthenegotiations onthecodehadbeenlost inoncemore. Ashehadstated onprevious occasions, hisGovernment remained as 1interested aseverinmaintaining agoodclimate forforeign investors. However, ;)~theapproval ofambiguous multilateral rulesmightbedetrimental tothefair \;1relations thathisGovernment hadmaintained formanydecades withtransnational 11corporations inaccordance withhiscountry's lawsandregulations. '1J 'II,I I, 1I <J II II I 'l I! II 1 1\} I.}I,] 1!{ II 1I! .\ I I II ,.1 1! \ j ( ,<I :1 II ,<I ! <~ \1 !·!t• ,.•.. '"' t.~6a.Oneexpertadviser, speaking onbehalfofalltheexpertadvisers, notedthat therehadbeenapauseinthenegotiations onthecodeinrecentyears. He, however, attached greatimportance totheunderstandings reached within the enlarged Bureau. Thoseunderstandings reflected apositive consensus onthe desirability ofhaving acodethatwouldestablish standards fortheconduct and treatment oftransnational corporations andaconfirmation onthepartofthe negotiators tomoveforward. Henotedthatthenegotiations hadalready achieved mutually acceptable for~ulations onawiderangeofissues. Giventheconcerted resolve toconclude thecodeontransnational corporations, theremaining issues shouldnotdefyresolution. Thesameexpertadviser, speaking onhisownbehalf, expressed thehopethatcertain outstanding issues touching uponmatters of customary international lawwouldnotbedifficult toresolve. Thoseveryissues hadbeenthesubject ofprolonged debate andhadbeenresolved byagroupof eminent international lawyers fromdifferent legalsystems attheInternational Law Association Conference atSeoulin19a6.Inhisview,constructive consultations
analysis: The text appears to be discussing the development of a code of conduct for transnational corporations, specifically in the context of international trade and economic activities. The language used suggests a focus on the economic and social implications of corporate activities, as well as the need for a balanced and fair approach to regulating their behavior.