protect the ecosystem of our planet. The right of every human being to a decent environment should be enshrined in the international documents. Permit me to comment briefly on some of the economic problems facing Mongolia. We are at present in a complex transitional situation characterized by a disruption in the balance between the various spheres of our economy. The conditions of foreign trade have deteriorated badly in the last few years. Mongolia is currently implementing economic reform. This includes democratization, the establishment of a market system regulated by the State, equality for various forms of ownership and a policy of open economic relations with all countries of the world. Mongolia will be focusing on establishing a JVM/7 A/S-18/PV.S 23 (Mr. Byambasuren, Mongolia) highly effective national complex that will combine the civilization of our nomadic people with the achievements of their recent industrialization and ensure that the society can develop together with its natural environment. Our country is trying to broaden its relations with all countries of the world on the basis of universal principles and norms of international relations, irrespective of differences in our social systems. A substantial role can, we feel, be played by attracting foreign capital. Accordingly, our State is improving the legal basis for its foreign economic relations. We recently adopted a law on foreign capital investment. It provides for a favourable tax system, as well as customs and financial mechanisms for encouraging investment and an influx of know-how in the areas of technology, organization and sales. Because of their geographical proximity and other factors, neighbouring countries in Asia and the Pacific will be playing an important role in our country's foreign economic relations. We are also interested in consolidating our ties with all countries on the basis of the principle of equal rights and mutual 
**Analysis**
The text discusses Mongolia's economic situation, its efforts to implement economic reforms, and its goals for international cooperation and investment. It also touches on the country's natural environment and the need to balance economic development with environmental protection. However, the primary focus is on economic development and international relations.

**Category**
Economic development, International trade