andsocial cohesion, whichmustinclude amarked reduction inextreme poverty within theregion; control ofinflation, whichwouldremove oneofthemain obstacles totheformulation andsystematic application ofpolicies designed to promote sustained andequitable economic development; achievement ofareasonable degree ofexternal balance andthemitigation oftheproblems caused bythe servicing oftheexternal debtthrough thediversification ofexports andefficient importsubstitution; theregion's adaptation tonewandchanging circumstances in theinternational situation; fullutilization ofthepotential represented by intraregional co-operation; andconsolidation andimprovement ofdemocratic processes withaviewtopromoting stronger pluralistic andparticipatory societies whichwillfoster aneffective formofinteraction between social andeconomic agents. 33.5Inordertomeetthesechallenges, thecountries' domestic economic and socialpolicies willhavetofulfilatleastthreebasicrequirements: adjustment, efficiency andequity. Ifthesethreeconditions aretobemetsimultaneously, the public sectorwillhavetobereformed andrationalized, bothasregards the activities andfunctions ofthecentral Government andinrespect ofthe performance andtheroleplayed bypublicenterprises. -3- Digitized by Dag Hammarskjöld Library2.Overall strategy 33.6Thesecretariat oftheEconomic Commission forLatinAmerica andthe Caribbean (ECLAC), theorganizational unitresponsible fortheelaboration and implementation ofthisprogramme, wascreated on25February 1948.Itstermsof reference wereestablished byEconomic andSocialCouncil resolution 106(VI)and wereamended atitsninth,thirteenth, twenty-eighth andforty-seventh sessions and atitssecondregular sessions of1979and1984. 33.7Intheframework oftheoverall orientation andobjectives, thepresent programme provides fortheservicing ofsessions ofECLACpolicy-making organs and theirsubsidiary committees, andregional intergovernmental conferences; support to MemberStatesfornegotiations ininternational forums; aswellasactivities in fourmainareas: technical co-operation, sectora1 andmu1tidiscip1inary applied research, training, andthedissemination ofinformation through theproduction of technical documentation andspecialized periodicals. 33.8Inaddition, theprogramme contemplates advisory assistance activities, the implementation ofwhichcallsfortheformulation andexecution ofoperational projects. Italsoprovides foractivities designed tosupport theorganization and strengthening ofentrepreneurial associations andtoassistsmallandmedium-scale industrial, agricultural andagro-industrial enterprises onthebasisofhorizontal co-operation andinstitutional technical assistance mechanisms. 33.9Itisanticipated thatsomeoftheaboveactivities willrequire voluntary contributions andotherextrabudgetary resources. 33.10Inimplementing theprogramme, ECLACwillcontinue tomaintain appropriate liaison andco-operation withtheotherUnitedNations regional commissions and withthepertinent substantive organs, departments ordivisions oftheUnited Nations Secretariat, including theUnited Nations CentreforHumanSettlements (Habitat), theUnited Nations Environment Programme (UNEP) andtheUnited Nations Conference onTradeandDevelopment (UNCTAD). Itwillalsoco-ordinate its activities withtherelevant specialized agencies, suchastheFoodandAgriculture Organization oftheUnitedNations (FAO),theUnitedNations Industrial Development Organization (UNIDO), andtheInternational LabourOrganisation (ILO). Inorderto avoidduplication ofefforts, ECLAChasestablished several jointprogrammes and unitsoflongstanding, namely: theJointECLAC/FAO Agriculture Division; the JointECLAC/UNIDO Industry andTechnology Division; theJointECLAC/CTC Uniton Transnational Corporations; theJointECLAC/UNEP Development andEnvironment Unit; andtheJointECLAC/UNCHS UnitonHumanSettlements. Closeco-ordination willalso bemaintained withtheinstitutions concerned withtheeconomic integration ofthe
**Analysis**
The text appears to be a programmatic document outlining the goals, objectives, and strategies for economic development in Latin America and the Caribbean. It emphasizes the importance of social cohesion, economic growth, and sustainable development, and discusses various initiatives to promote economic cooperation, innovation, and entrepreneurship.

**Category**
Economic development, Industry, International trade