text: improving the terms of trade. The persistentlv declining prices of commodities must be stabilized. In our global efforts to improve the terms of trade between the developed and developing countries, Papua New Guinea has been actively participating in some of the major international commodity agreements to which it is a party. Papua New Qiinea has been an active partner in the Lome Convention, which governs our relations with the European Economic Community (EEC), as well as with the African, Caribbean and Pacific (ACP) countries. In his opening address at the ACP/EEC Joint Assembly at Port Moresby on 19 March 1990, our Prime Minister, Mr. Rabbie Namaliu, said: "The Lome Convention, which has been hailed as a milestone in North-South co-operation, established a privileged and special relationship between ACP and EEC which we must all protect and promote to the benefit of all the people we serve JVM/13 A/S-18/PV. 9 53 (Mr. Lohia, Papua New Guinea ) "The new Convention both consolidates the Aqui from the Third Lome Convention and breaks new ground in areas such as structural adjustment, trade in services and industrial development". It is pleasing to note that there is increasing interest in the ACP/EEC family. In this regard we are pleased to welcome Spain and Portugal from the European Economic Community and Haiti and the Dominican Republic from the ACP group of countries to join the family. It is also our hope that Africa ’s newest nation, Namibia, should soon join the Lome Convention. Our close economic co-operation with EEC through the Lome Convention leads us to wonder about the developments and progress on European integration by 1992. It is our hope that such an integration will not adversely affect the current trend of our trade and economic relations with EEC and its individual member countries.
analysis: The text discusses Papua New Guinea's efforts to improve its terms of trade, stabilize commodity prices, and promote economic cooperation with developed countries, particularly through the Lome Convention. It highlights the country's involvement in international commodity agreements and its relations with the European Economic Community (EEC) and African, Caribbean, and Pacific (ACP) countries. The text also touches on the topic of European integration and its potential impact on Papua New Guinea's trade and economic relations.