text: onthoseissuesshouldtakeintoaccount recent developments inactualpractice in Government andforeign investor relations, aswellasmutually acceptable formulations foundinbilateral international treaties. 69. R~ferring tothereportoftheSecretary-General oninternational arrangements andagreements related totransnational corporations, anumberofdelegations from developed market economies notedtheincreasing linkage approach asanimportant newtrendininternational economic relations. Onthesuggestion thatthe conclusion ofthecodeofconduct couldhelptobringthedevelopment discussion in theinteLnational negotiatIons undertheGeneral Agreeme~t onTariffs and Trade(GATT), thosedelegations obsarved thatsincetherewasstillnoagreement on thecode,itmightbecounter-productive totrytobringthosecodeelements into theGATTdiscussions. ActiontakenbytheCommission 70.TheCommission tooknoteofthereportoftheSecretary-General onthecodeof conduct ontransnational corporations (E/C.10/19a9/4) andrequested the Secretary-General tosubmittoit,atitssixteenth sebsion, afurther report on thesubject. IttooknotealsoofthereportoftheSecretary-General on international arrangements andagreements related totransnational corporations (E/C.10/19a9/5) andrequested theSecretary-General toupdatethatreportforits sixteenth session. Draftcodeofconduct ontran9national corporations 71.AtthelOthmeeting, on12April19a9,theobserver forMalaysia, 14/on behalfoftheStates Members oftheUnitedNations thataremembers oftheGroup of77,introduced adraftresolution (E/C.10/19a9/L.7) entitled "Draft codeof conduct ontransnational corporations". 141Inaccordance withrule72oftherulesofprocedure oftheEconomic and SocialCouncil. -31-1>.1·.'.··.·.··.'.·····:.·.,.1.1 :1 'I rrl U::J ¥;/"l ~I ~;'.)'.\ wt ~:"1I'.I.., I1Itri ').\ fJ[; V'·1/! \'riI.', !r'J1'Ir ' Iq cl., hi···..···.I :..I , ! .1 ,) ! '\ ~..~ it'l "I II 1'1 1'1 1.41 '>1 iJ .I f'.\ ~l ~:l ~:I rl ~..jI" "~',jH ~·.·i ~...\ ~:.'I ~.i I'!j·1 1!ii(I \''1f., ~,; 11I\.\Ij ~'"\ (,'<!.~", I, I, I ", i I \ j', I' f {:;.t i72.Atthe13thmeeting, on14April,theSecretary oftheCommission readoutthe following revisions tothedraftresolution whichhadbeenagreedtoduring informal consultations: (a)Anewpreambular paragraph wasinserted afterthefirstpreambular paragraph, reading: "Reiterating thatthespecial session oftheCommission onTransnational Corporations continues tobethecompetent andauthoritative bodyofthe UnitedNations fornegotiating thecodeofconduct ontransnational corporations"; (b)Intheoperative paragraph thewords"tocontinue toconduct" were replaced bythewordsl'tointensify"; theword"draft" beforethewords"codeof conduct" wasdeleted; andthewords"assoonaspossible" werereplaced bythe words"inthecontext ofthespecial session oftheCommission onTransnational Corporations, possibly nolaterthantheendof1990". 73.Statements weremadebytherepresentatives ofBrazil andIndia. 74.Atthesamemeeting, theCommission adopted thedraftresolution, asorally revised (seechap.I,sect.A,draftresolution IV). -32- Chapt€LLY INTERNATIONAL STANDARDS OFACCOUNTING ANDREPORTING 75.TheCommission considered item6ofitsagendaatits6thmeeting, on 10April1989.Ithadbeforeitthereport oftheIntergovernmental Working Group ofExperts onInternational Standards ofAccounting andReporting onitsseventh session (E/C.I0/1989/7). 76.TheExecutive Director oftheCentre informed theCommission thattheGroup hadcontinued itsaction-oriented approach andintended tomaintain themomentum thathadplaceditinthevanguard ofbodies concerned withaccounting and reporti.ng issues. TheGrouphadapproved aframework tohelpusersandpreparers offinancial statements tounderstand better theobjectives andconcepts underlying suchstatements, whichwouldbeissued asacompanion volume totheGroup's agreed
analysis: The text appears to be discussing international agreements and codes of conduct related to transnational corporations, which suggests that it is focused on economic and trade issues. The text also mentions international standards of accounting and reporting, which further supports the idea that it is related to economic development and trade.