text: ready to undertake further studies on the subject, if so desired by the Commission. Action taken by the Commission 84. The Commission took note of the report of the Secretary-General on transnational banks and external indebtedness (E/C.l0/1990/11) and requested the Centre to continue further studies on the subject in the light of the discussions at its sixteenth session. B. Role of transnational corporations in other services 85. The Commission considered item 8 (b} of its agenda at its 3rd, 4th and 5th meetings, on 3 and 5 April 1990. It had before it the report of the Secretary-General on transnational corporations and the Uruguay Round (E/C.l0/1990/12) . 86. In introducing the item, the Acting Assistant Director of the Policy Analysis and Research Division of the Centre outlined foreign direct investment issues related to the negotiations on trade in services in the Uruguay Round of Multilateral Trade Negotiations. He pointed out the difficulty of drawing a boundary line between foreign direct investment and trade in services. The intangible and non-storable nature of services required that many of them must be produced when and where they were consumed, that is, by foreign affiliates. One could distinguish between various alternative modes of delivery of services, including the cross-border movement of services and information, the movement of persons, licensing or other non-equity arrangements, commercial presence in the -32-form.of sales or representative o:fices, and the establishment of affiliates by ser;~ces producers. In some serv~ces more than one of the alternatives might be ~va1l~ble, an~, as the Montreal mid-term review of the Uruguay Round suggested, fore1gn ~erv1ces may be supplied according to the preferred mode of delivery". In many se:vlces, however, the establishment of foreign affiliates involving equity or ~on-equ1ty arrangements was the most common mode of delivery. That highlighted the 
analysis: The text appears to be discussing the role of transnational corporations in the context of international trade, specifically in the services sector, and the challenges of defining boundaries between foreign direct investment and trade in services. The language used, such as "trade in services", "foreign direct investment", and "Uruguay Round", suggests a focus on economic issues and international trade.