special session of the Commission on Transnational Corporations for one day on 24 May 1990 (Council decision 1990/204), when the Commission would receive and formalize the conclusions of the enlarged Bureau. 22. The Executive Director observed that while the negotiations would continue and hopefully soon come to a successful conclusion, new needs and concerns had arisen in the international arena which required priority attention, such as the elaboration of international standards in the area of the environment. The conclusion of bilateral investment treaties was another area of expanding activity. Those or any other aspects of foreign direct investment and transnational corporation activity would greatly benefit from the conclusion of the code of conduct as a general frame of reference for the development of more specific and detailed standards to deal with the more dynamic aspects of such activity. 23. Delegations expressed their support for the initiatives taken by the Chairman and Bureau of the special session aimed at bringing the work on the code of conduct to an early and successful conclusion. They reiterated their commitment to the elaboration of the code. A number of delegations referred to the report and recommendations of The Hague Symposium on the United Nations Code of Conduct on Transnational Corporations, held in September 1989 (see E/C.10/1990/5, annex). Some delegations expressed the view that the code of conduct could become a very important and useful instrument for the conduct of international economic relations on a legally equal, politically predictable and economically sound basis. 24. Many delegations endorsed the report's finding that in the new investment environw.=nt, the need for the code had increased. They also concurred with the report in that agreement on the code would be facilitated by finding compromise solutions to the outstanding issues rather than by trying to resolve doctrinal 
**Analysis**
The text appears to be discussing international economic relations, specifically the development of a code of conduct for transnational corporations. The focus is on the need for a framework to regulate foreign direct investment, international standards for the environment, and the conclusion of bilateral investment treaties. The text does not mention any specific sectors such as agriculture, forestry, or fishing, nor does it touch on humanitarian aid, health, education, employment, or culture. The language used is formal and technical, suggesting a discussion at the international level.

**Category**
International trade, Industry