text: bytransnational corporations toreplace equity withnon-equity linkswithSouth Africa undermined theeffectiveness ofeconomic measures. Reaffirming that disinvestment meantthecutting ofallties,theycalled uponcompanies topullout altogether soastodiscontinue thesupply ofessential products, equipment and technology toSouthAfrica, including technology licensing anddistribution and franchise agreements. Theyalsocalled ontransnational bankstodiscontinue their loanexposure toSouthAfrica, asameansofexerting pressure ontheSouthAfrican regime, asshouldmultilateral financial institutions. Manydelegations expressed theirdisappointment thattheforeign tradeofSouthAfrica withcertain countries hadrecently beenincreasing andthattheoilembargo imposed bytheoil-exporting States hadnotbeeneffective becauseithadnotbeenadhered tobycertain shipping States. 85.Twodelegations, whilejoining inthecondemnation ofapartheid, expressed doubts abouttheeffectiveness ofcomprehensive mandatory sanctions. Thetwo delegations alsonotedthattheirGovernments viewed limited economic measures asa moreeffective meansofdismantling apartheid. Oneofthedelegations supported thecontinued presence inSouthAfrica ofthosecompanies thatsubscribed tothe Sullivan Principles andthatimplemented thecodeofconduct setoutinthat country's anti-apartheid act. 86.Onedelegation notedthatmeasures takenbyEuropean companies toabolish segregation wouldfurther thepolicy ofthosecountries indismantling apart~ by peaceful means. Another delegation notedthatalthough itstradewithSouthAfrica hadincreased in1987,suchtradehaddeclined in1988andtherewasaclear indication thatthedeclining trendwouldpersist in1989. Moreover, mostofthe increase initstradewithSouthAfrica wasindollar termsonly,asaresultof thedepreciation ofthedollarvis-a-vis itsowncurrency, andtl1atmeasures had recently beentakenbyitsGovernment torestrain itstradewithSouthAfrica. Another delegation expressed concern aboutSouthAfrica's recent investments in several countries. Onedelegation expressed concern aboutthelargeamount of resources beingtakenoutofN~nibia eachyearbytransnational corporations andby theprivatization process underwaythere. Thatdelegation questioned whether Namibia's resources wouldremain indigenous toandforNamibians. Another delegation expressed disagreement withthefindings oftheCentrethatcertain banksfilledinthegapinloansandtradecredits leftbyothercountries. Another delegation expressed itswill~ngness tohelpdiminish theheavyeconomic dependence ofthefront-line States. Thatdelegation alsonotedthatits Jovernment supported thefront-line States andtheirorganizations. 87.Anexpert adviser notedthatdisinvestment oftransnational corporations from SouthAfrica, ifnotaccompanied bycomplete disengagement, mightbenomorethan publicrelations. Headdedthattransnational corporations shouldratherinvest in thefront-line States. 88.TheExecutive Director, inresponding toissuesraised during thediscussion, referring toevents inNamibia, saidthattheCentre hadalready beguntoplaya -36- -37-Action takenby-theCommission J5/Inaccordance withrule72oftherulesofprocedure oftheEconomic and Social Council.I ,1 1, :jI Brazil, Burundi, Byelorussian SovietSocialist Republic, Cruneroon, China, Colombia, CostaRica,Cuba,Czechoslovakia, Gabon, German Democratic Republic, Ghana,India, Indonesia, Iran (Islamic Republic of),Iraq,Italy,Jamaica, Mexico, Norway, Per~,Poland, Tunisia, Turkey, Uganda, UnionofSovietSocialist Republics, Venezuela.Infa.vour:Activities oftransnational corporations inSouthAfrica andNamibiaroleinNamibia's independence andwouldbeavailable toassistinthatcountry's futurerelations withtransnational corporations. 89.TheCommission tooknoteofthereports oftheSecretary-General onthe follow-up totherecommendations ofthePanelofEminent Persons established to conduct thepublichearings ontheactivities oftransnational corporations in SouthAfrica andNamibia (E/1989/17), ontheactivities oftransnational
analysis: This text appears to be a report or discussion on the activities of transnational corporations in South Africa and Namibia, specifically focusing on their economic links and impact on the region. The text mentions disinvestment, sanctions, trade, and the role of multilateral financial institutions, suggesting that economic development and international trade are key themes. Additionally, the text touches on issues of human rights, social justice, and the interests of various governments and organizations.