text: Improved access tomarkets fortheexports ofdeveloping countries andbenefits fromproductive investments andtransfers oftechnology consistent withtheir development Objectives areessential inorderfordeveloping countries tobeable toexpandtheirproduction baseandtodiversify theireconomies. Theywillneed toenhance thecontribution oftheircommodity sector totheirdevelopment, an objective thatencompasses increased participation intheprocessing, marketing and distribution oftheircommodities. Inthatcontext, theywillneedtoseekthe assistance oftheinternational community andtomakeuseoftheCommon Fundfor Commodities asaninstrument forgiving anewimpetus topolicyactioninthefield ofcommodities. Theywillalsoneedtodevelop theirmanufacturing andservices sectors andparticular services industries, including shipping andinsurance, in ordertoearnorsavescarce foreign exchange andtoparticipate inthegrowth areasoftheworldeconomy. Itisimportant toanalyse thediversity of performance ininternational tradeinordertoemulate successful policies, as appropriate. Furthermore, theywillhavetointensify theirefforts toexpand theirmutual tradeandeconomic co-operation inordertoprovide newengines of growth forthemselves andtocontribute totheexpansion oftheworldeconomy asa whole. Newopportunities alongwithnewchallenges couldalsoariseforthe expansion oftheirtradebecause ofthetransformation oftheeconomies ofEastern European countries. Theleastdeveloped countries, inparticular, will increasingly require special measures tohelpthemovercome theirstructural difficulties andtorespond tothechallenges andopportunities ofthe1990s. -3- Digitized by Dag Hammarskjöld Library13.3Protectionism, problems ofmarketaccess, particularly fordevel?pin g countries, restrictive business practices, resistance tostructural adJustment and subsidization ofproduction andexports willremain keyissuesforthe1990s. However, asrecognized intheFinalActadopted bytheunitedNations Conference on TradeandDevelopment (UNCTAD) atitsseventh session, abalanced outcome ofthe Uruguay Roundofmultilateral tradenegotiations shouldintheenddevelop amore open,viable anddurable multilateral trading system andthereby contribute to promoting growth anddevelopment. Therevitalization ofdevelopment, growth and international tradeinanincreasingly interdependent worldisacommonobjective thatrequires continued co-operative efforts within amultilateral framework involving allStates. 13.4Suchproblems willhighlight further theinterrelationship oftradeissues withmonetary andfinancial questions andtheproblem ofdebt. Manycountries, particularly developing countries lhavetocopewithweakandunstable commodity prices, restrictions ontheirexports, instability inexchange rates, debt-servicing problems, highrealinterest ratesandtheneedforappropriate economic policy reforms withinternational development objectives. Theirability tomakethenecessary adjustments inordertobecomeorremaincompetitive in international tradewillthusbeseverely constrained. Others havesuccessfully adjusted theireconomies andachieved rapidgrowth. Thosecountries areencouraged tosharetheirexperiences withothercountries. Developments inthefinancial sector, including theprogressive dismantling ofcontrols overinternational capital movements, theincreasingly closeconnections between international and domestic financial markets, facilitated bytherevolution ininformation and communications technology, aswellasthedecline innetfinancial flowsto countries concerned willunderline theimportance offurther development ofthe tradesectors inmanydeveloping countries. 13.5Underthesecircumstances, developing countries willhavetodevelop and implement moresophisticated andaggressive marketing strategies, expandtheir marketing efforts significantly, armthemselves withmoreaccurate andup-to-date information onmarket requirements andopportunities, improve andadaptthequality
analysis: The text discusses various aspects of economic development, international trade, and the challenges faced by developing countries in expanding their production base, diversifying their economies, and participating in the global economy. The text highlights the importance of market access, technology transfer, and cooperation in achieving economic growth and development.