opportunity wasmissedatthesummitmeeting of17January 1985because oftheMLG/ljb A/40/PV.22 53 (Mr.Halefoglu, Turkey) intransigence oftheGreekCypriot side.Itshouldalsobeunderlined thata serious obstacle tothesolution oftheCyprusproblemisthebasicattitude of Greece, whichrejects theagreedpremises onwhichthetalksbetween theTurkish andGreekCypriots areproceeding. Inrespect ofthetrendsandprospects oftheworldeconomy, theoverall results ofthelastfewyearsrequire acomprehensive reassessment. Theworld economyisexpanding afterthelongest andmostserious recession sincetheendof theSecondWorldWar.However, thisexpansion islimited inscopeandmagnitude. Indeeditshowswidedisparities fromcountry tocountry. Whilegrowthhasbeen quiterapidinsomeeconomies, ithasbeenweakornegligible inothers. Inthis context, thesituation inmanyofthedeveloping countries callsforimmediate attention, astheyarestillfacingacuteeconomic problems whichseriously hinder theirprospects forthefuture. Thecurrent international economic situation also remains atrisk,particularly becauseofunresolved questions related tostructural adjustment, international trade,moneyandfinance. Mostofthedeveloping countries havebeenforcedtocuttheirimports drastically because oftheinsufficient inflowofforeign currency. Thissituation mayleadthemintofurther impoverishment withserious social, humanitarian and political consequences. Amongdeveloping cogntries, thosewhomanagetoincrease theirproductivity andexportcapabilities arefacingseveretradebarriers andimpor.trestrictions fromtheindustrialized countries. Thissituation leadsinmostcasesto difficulties indebtserVicing, andfurthercutsinimports andinvestments. Thismakesallthemoreurgenttheneedforanewimpetus totheNorth-South dialogue, oneofthemostimportant tasksfacingtheinternational community. SoMLG/ljb A/40/PV.22 54 (Mr.Balefoglu, Turkey) fartheefforts aimedattheestablishment ofanewinternational economic order havenotliveduptoourexpectations. Allcountries haveanimportant roleto playinthisregard. Theefforts ofthedeveloping nations arenotenoughby themselves toproduce thedesired results. Therecentexperience ofGome developing countries whichhaveimplemented tightadjustment measures showsusthat theseefforts areboundtobeinsufficient iftheconditions intheexternal environment continue toexertanegative influence. Inthisconnection, mycountry's experience mayhavesomerelevance. The successofthestepswhichwehavetakensince1980,andtheirincreasing momentum durin~thelasttwoyears,havebeentheresultofourdetermination in implementing an-effective adjustment programme. However, theprotectionist policies followed bytheindustrialized countries createmajorobstacles which frustrate ourefforts. Indeed,itisofpat~~cular impo~tance toreverse thegrowing protectionist tendencies. Unlessthedeveloped countries clearly demonstrate adetermination to takethelea~inaprocess directed towards therelaxation anddismantling of restrictive trademeasures, thedeveloping countries willcontinue tofacegrave difficulties insuccessfully carrying outexport-oriented growthstrategies. On theotherhand,itisalsointheinterest ofdeveloped countries tostop protectionist practices, sincesuchpractices havearestrictive impactonthe overallleveloftheireconomic activities anddivertthemtolowerproductivity areas. Inthemonetary andfinancial fields, appropriate national bUdgetary and monetary policies arenecessary butnotenough. International eff~rts arealso required tofindasolution tothedebtproblem andtoimprove conditions for increasing financial flowstodeveloping countries.MLG/1jb A/40/PV.22 55 (Mr.lIa1efpg1u, Turkey) Wemustalsonotoverlook thehumandimension ofeconomic development. The roundtablediscussion organized lastmonthinIstanbul unde~thejointsponsorship oftheunitedNations Development Programme andtheNorth-Sout~ roundtable provided anopportunity foranoverall assessment ofthisimportant subject.A/40/PV.22 56 (Mr.Halefoglu, Turkey) Asindicated initsconcluding !stal)bul Statement: "recent national andinternational pressures leadtoserious neglectofthe humandimension indevelopment. Unlessremedied Qthisneglectwilldistort andhandicap thefuture developme~t ofatleastageneration tocome." Thesituation theworldfacesisnotanoptimistic one.Yetwebelieve that withcommondetermination wecanworkoutamorepeaceful andprosperous futureand wemayovercome JM:nydifficulties confronting us.
**Analysis**
The text appears to be a diplomatic statement discussing the state of the world economy, trade, and development. It highlights the challenges faced by developing countries, the importance of North-South dialogue, and the need for a new international economic order. The text also touches on the human dimension of economic development, emphasizing the need to address the neglect of this aspect.

**Category**
Economic development, International trade