text: political affairs, 3.respect fornational sovereignty, 4.nationalisation and compensation,S. dispute settlement, 6.national treatment. Theoutstanding issueswerealsodiscussed atthemeeting oftheenlarged Bureauofthe Special Session oftheCommission onTransnational Corporations atits meetings heldinJanuary 1990. 48.Theparticipants endorsed thevalidity oftheCodeexercise inthe contemporary international economic environment. Theparticipants further considered thatcurrent international developments suchastheincreased internationalization ofeconomic activities, thephenomenal growthinthe volumeoftradeandforeign directinvestment (FDI)flows,theemergence of services asanimportant component ofFDIandtrade,andindeedtheentire phenomenon ofincreasing interdependence intheworldeconomyallunderscored theimportance oftransnational corporations asmajoractorsintheworld economy. Thosetrendsreinforced theneedforaninternational framework for theoperations ofTNCs. B.CTCstudies 49.CTCpublications andstudies havecontinued togivemajorfocustothe roleandimpactoftransnational corporations (TNCs) on national andregional investment andinspecific sectors. Indetailed analyses, examination ismade oflegal,economic andsocialfactors impacting onTNCsinhostcountries. Relevant legalissuesareobserved andanalysed, aswellastheirtrendsand implementation. Theharmonization/nationalization ofnational andregional lawsandregulations aremonitored byCTC,andareco-ordinated on aglobal basis. 50.Special studies ofCTCcompleted andpublished in1988and1989are: 1.International IncomeTaxation andDeveloping Countries (SalesNo. E.88.II.A.6) 2.International Accounting andReporting Issues: 1987Review(Sales No.E.88.II.A.8).A/CN.9/336 English Page22 3.Transnational Corporations: ASelective Bibliography, 1983-1987, Vol.I(SalesNo.E.88.II.A.9) andVol.11(SalesNo.E.88.II.A.lO). 4.Transnational Corporations inWorldDevelopment: Trends and Prospects -Executive Summary (SalesNo.E.88.II.A.15). 5.Conclusions onAccounting andReporting byTransnational Corporations: TheIntergovernmental Working GroupofExperts on International Standards ofAccounting andReporting (SalesNo. E.88.II.A.18). 6.DataGoodsandDataServices intheSocialist Countries ofEastern Europe(SalesNo.E.88.II.A.20). 7.Foreign DirectInvestment andTransnational Corporations inServices (SalesNo.E.89.II.A.l). 8.International Accounting andReporting Issues: 1988Review(Sales No.E.89.II.A.3). • 9.TheProcess ofTransnationalization andTransnational Mergers (Sales No.E.89.II.A.4). 10.Transnational Corporations andtheGrowthofServices: Some Conceptual andTheoretical Issues (UNCTCCurrent Studies, SeriesA, No. 9)(SalesNo.E.89.II.A.6). 11.Transnational Corporations intheConstruction andDesign Engineering Industry (SalesNo.E.89.II.A.6). 12.National Legislation andRegulations Relating toTransnational Corporations Vol.VII(SalesNo.E.89.II.A.9). 13.International DebtRestructuring: Substantive IssuesandTechniques (SalesNo.E.89.II.A.lO). 14.Transnational Corporations inSouthAfrica andNamibia: ASelective ~ Bibliography (SalesNo.E.89.II.A.13). 15.Transnational Service Corporations andDeveloping Countries: Impact onPolicyIssues(SalesNo.E.89.II.A.14). 16.Transnational Corporations andInternational Economic Relations: Recent Developments andSelected Issues(SalesNo.E.89.II.A.15). 17.Services andDevelopment: TheRoleofForeign DirectInvestment and Trade(SalesNo.E.89.II.A.17). 18.Objectives andConcepts Underlying Financial Statements (SalesNo. E.89.II.A.18).•A/CN.9/336 English Page23 51.Special studies ofCTCcompleted in1989andtobepublished in1990are: 1.Negotiating HotelManagement Agreements. 2.KeyConcepts inInternational Investment Arrangements andtheir Relevance toInternational Transactions inServices. 3.Licence andContract TermsforPetroleum Exploration. V.TRANSFER OFTECHNOLOGY A.UNCTAD: proposed international codeofconduct on thetransfer oftechnology 52.UNCTADhascontinued initsworktonegotiate andadoptaninternational codeofconduct onthetransfer oftechnology mandated bytheGeneral Assembly byresolution 32/188of19December 1977.Divergencies inapproach existin several areassuchasrestrictive practices andapplicable law. 53.Newfactors havemade a compromise ontheissuesoutstanding more
analysis: The text appears to be focused on the role of transnational corporations (TNCs) in the global economy, discussing issues related to their operations, impact, and regulation. It also touches on the transfer of technology and the need for international frameworks to govern their activities. Given this content, it is likely that the text is more relevant to economic development and international trade.