people, we have no alternative but to work together to proTOC>te a high quality of growth. It is therefore imperative for the developed countries to intensify the transfer of scientific and technological knowledge to developing countries. That will ensure that the developing countries will be able to develop their en<bgenous capacity further in all fields, including industrial and agricultural production and services. A clear example of our interdependence is the debt crisis that has haunted not only the debtor countries but the creditors as well. It is taking longer than anticipated to solve the debt crisis. The tasks confronting the low-income developing countries are indeed daunting. What is required is a sustained and strong effort by all concerned and, above all, a lasting commitment to revitalize the economies of those developing countries that are-considered to have serious JB/9 A/S-18/PV. 6 37 (Mr. Jaya, Brunei Darussalam) debt problems, with a view to making them more productive. In order to achieve that objective, those developing countries need not only generous assistance on concessional terms from the donor countries and the mutlilateral agencies but also debt-relief arrangements. M<{ delegation appreciates the bold stePs taken by the Group of Seven at the Toronto summit in its efforts to bring about debt-relief options. In the maintenance of an open and durable multilateral trading system, the specific requirements of the developing countries need to be taken into account. That can be done in accordance with the principles governing the Punta del Este declaration and the Uruguay Round negotiations. An open multilateral trading system is essential for preventing the further degradation of the multilateral trading system through the resort to unilateral and bilateral measures. In that context, it is therefore relevant for me to quote the Secretary-General when he states in his report to the General Assembly: 
**Analysis**
The text discusses the importance of international cooperation for economic development, specifically focusing on the transfer of scientific and technological knowledge, debt relief, and multilateral trade agreements to promote economic growth and development. It also highlights the interdependence between developed and developing countries.

**Category**
Economic development, International trade