text: Atthesametimeweshouldplacegreaterstressonthepossibilities that co-operation amongequalscanopenup,.,W'aareconvinced thatifweweretoput moreenergyandmoreimagination intamanaging ourrelations withcountries that areinasituation simi1~r. toours, eithe~withinourregionorevenelsewhere, we mightfindnewavenues ofprogress. Byintensifying orexpanding co-operation with otherdeveloping countries, wecanreducethecontradictions inourowneconomies. LatinAmericais,withafewexceptions, self-sufficient intermsofmostof ourcommodities. However, despite theexistence ofareasandsubregions with excessproduction, andothersthatcannotmeettheirownneeds,thereisnotenough intraregiona1 trade.. Duringthelastfewyears,onlyafifthofthetotalvalueofcommodity imports -including oil-camefromLatinAmerica. TheLatinAmerican region, for example, exported $7,300million worthoffoodin1982,ofwhichonly$730million worthwenttoothercountries intheregion. Thevalueofitsoilexports in1982amounted to$48billion, ofwhichonly $5billion wereintraregional exports, whileoilimports fromtherestoftheworld amounted to$26billion. Inviewofthesevereexternal restrictions whichour countries face,thefactthatwearebuyingabroadtheverysamegoodsthatweare producing withinourownbordersisasignthatwehavefailedtoorganize trade thatitwillprovide usthegreatest possible benefits. Consequently, wemuststimulate economic integration amongourcountries. Theremustbemoretrade,moretechnical assistance, moretransfer oftechnology, moreco-operation intheareasofeducation andscientific research, moreprojects toestablish multinational corporations, greater policyco-ordination, atthe subregional, regional, continental orintercontinental level,inallareasinwhichJSM/ed A/4O/PV ..6 19 (President Sanguinetti) wehavecommoninterests. Allthesearechannels whichhavenotbeensufficiently explored, thatmayopenupnewprospects foremerging fromoureconomic stagnation. Inthisregard, Iwouldliketocalltomindtheexercise inco-ordination and consultation thatwe,thedebtorcountries ofLatinAmerica, arecarrying out through theCartagena groupwiththepurpose ofnegotiating collectively withour creditors onsuchaproblem asthatoftheforeign debtwhich,hastakenona predominantly political dimension thatrequires apolitical solution, andthatcan nolongerbedealtwithsimplyasamererelationship ofalegal-financial nature between debtors andcreditors. Inthisregard, wewelcome andfirmlysupport whattheSecretary-General has stressed inhisannualreporttotheGeneral Assembly, towit,thatinrecentyears economic, financial, monetary andtradeissueshavebecomesointerrelated andare ofsuchprofound political andsocialimportance thattheycanonlybedealtwith effectively aspartofawiderpolitical process. Weshallinsistonthataspectofthiuproblem, whichinthelongrunwill havetobeaccepted byindustrialized countries. Onthisproblem LatinAmerica mustberegarded andlistened toasaunitedgroup. Thisdoesnotimplyaclubof insolvent debtors seeking toreducetheamountorextendthetermoftheirdebts. NO,apolitical focushastwomeanings: one,thatthemeritsofactingasa hemisphere berecognized~ theother,thatitbeunderstood thatthedebtwillbe paidbymeansofgrowthandexports. Growthonlycomesaboutwithinvestment. Thisimplies receiving investments, andrecycling intoproductive activities some ofoursavings fromreducing theservicing oftheseliabilities. Theaimofthis political focusisnottodefault onourobligations orconfront thefinancial system, butrathertoseekasolution totheproblem which,intheexisting situation andwithourusualresources, ourcountries willbeunabletocopewith inthelongrun,exceptatthepriceofchaos.A/f.0/PV.6 20 (President SanWJinetti) Together withinvestllent growth, however, wealsoneedtoincrease our exports. Inthisregardwe_ustbequite pl~in. Theforeign debtproblem is indissolubly linkedtothettadeproblem. Ifthepricesofourrawmaterials continue todecline, ifthepresent ~otectioni8t barriers remainunchange.d, ifthepresent newtrends, whichauguring thedangersofanundeclared tradewarwithoutdated andsuicidal protectionist policies, areconfirmed, therewillhenolasting solution tothedebtproblem and thewholeedifice thatwehave.riedtobuildwithourpost-war institutictls may fallandpavethewaytoaworldofstagnation oruncontrollable crises.BIlS/rd A/40/PV ..6 21 (President Sanguinetti) Wealsowishtobeamongthedriving forcesofworldgrowth. Letusbe allowed toproduce; giveustheresources withwhichtostrengthen ourcapllcity for investment andproductive IOOdernization; openupthedoorstoourexportcapacity, andthedebtproblem willbejustonemorefinancial problem onouragenda. Thosearetheessential termsoftheproblem; iftodayweweretoimagine for aninstantthatforeign debthadmagically disappeared, wewouldstillnothave found.thesolution totherootsofthept'ob1em. Wewouldonlyhavefound incidental relief: thatofmaintaining thepresent international conditions of
analysis: The text appears to be a speech or statement from a government official or organization, discussing the economic situation and challenges faced by Latin American countries, particularly in relation to their foreign debt and trade. It highlights the need for cooperation among countries, increased trade, and economic integration to overcome these challenges and achieve sustainable development.