the outstanding issues in the code of conduct. The purpose of the syrnposiwn wa~ to facilitate constructive discussion s among high-level international experts, with the aim of assisting the Commissi on in the negotiation of those issues. An important task for the group was·to review the outstanding·issues in the ligh~ of recent State practice, decisions of international tribunals, treaties and other··. sources of international law; to determin e the status of evolution of international law in the relevant areas; and to· suggest ways in which the interaction between international law, national law end the code instrument co·uld facilitate the formulation of the code standards. The participants •noted several recent changes in the economic · scene of relevanc e to the code. · To most obse'rvers, the ' developments have rendered the need for the code': -· that is,: a· global, comprehensive and balanced framework on foreign direct investment and·transnati onal corporat ion activity - more acute than before, because they emphasiz e the growing significance of transnati onal corporations in the world economy and increase the importan ce of concluding international standards to guide essential economic functions undertaken by those corporations. It was also stressed that the fundamental need for the I ••• E/C. 10/1990/5 English Page 5 international community to address the consequences of the operations of transnational corporations by international standards to supplement national law in that area has not changed. With respect to the outstanding issues, it was generally felt that agreement on the code was likely to be found by means of flexible formulations that accommodate different views rather than on the basis of the legal merits of one or another alternative. There were no~ strong objections to the present formulations in the code, and, in the view of most commentators, the 
**Analysis**
The text appears to be discussing international economic policy, specifically the development of a code of conduct for foreign direct investment and transnational corporate activity. The language used suggests a focus on the need for international standards to guide economic functions undertaken by transnational corporations, and the potential consequences of their operations. This implies a connection to international trade and economic development.

**Category**
International trade, Industry