text: the interrelalionsbips between issues in the f iel.ds of noney, grade, deb! and finance i.s evident fron the inteqrated consideration of these iasues recently undertaken in the Economic and Social CounciL, the U'lF Interin Conmittee, tbe Bank/IMF DeveloprnenC Cornmitlee, GATT and UNCTAD. 57. In the field of trade itself, there is a recognized need to restore the multilateral character of the trading r6girne and to strengthen the authority GATT. In some measure, the drift tonards bilateralisrn experienced in recent is bofh a cause and a slrmpton of the eeakening of GATT. In order to restore authority and credibility of GATI, it will be necessary to improve lhe i.nstrunenls lhemselves. An effectige and equitable safeguard clause is essential for Ebe proper functioning of the trading system. ft also remains to clarify lhe arnbiguities contained in sone of the Tokyo Round codes on non-tariff measures -notably subsidies - regarding the qircumstances under t{hich protective neasures are sanctioned under the codes. Likenise, it wil-l be necessary to resolve the issue of lhe balance of rigbts and obligations anong rnenbers posed by the fact that ehile a decision hra6 made co respect ttte unconditional nos t-favou (ed-nat ion clause, accession to the codes on non-tariff neasures is voluntary and not all GATT nembers are signatories to all tbe codes. At the sane tine, improvenents are clearly needed in dispute sett.lenent, surveillance and mechanisms to enforce compliance. Work on all these areas ha6 been under rray in GATT for years, but despite thorough studies of the issues, little progress has been made in reaching agreed solueions, 58. The launching of a new round of nultilateral trade negoliations currently under discussion in GATT is seen by many as a neans of breaking lhis inpasse and rnaking furEher progress in the field of trade liberalizaEion. Indeed, if
analysis: The text appears to be discussing the intricacies of international trade, highlighting the need for multilateral agreements, clarifying ambiguities in existing codes, and resolving disputes. The language used is technical and focused on the specifics of trade policies and regulations, suggesting that the text is primarily concerned with the economic aspects of international trade.