development strategy so as to assure qrOo\rth in the service of the working people, the driving force of all social and economic development. The expansion of international economic co-operation is an absolute necessitv for the developing countries. Regional and subregional co-operation is becoming a stronq trend Oo\rinq to the advantages inherent in geography, communications and transportation as well as the relative similarity in historical economic and social conditions. The problem of countries producing the same products and the problem of the shortage of capital can be solved throuqh the division of labour on the basis of specialization and co-operation between countries in the same region as well as between them and the industrialized countries outside their reqion. It is quite clear that today international economic co-operation has acquired a highlv complex character and has various dimensions: North-South, South-South and East-West; indeed, multilateral frameworks have been established for each of those dimensions. An indispensable prerequisite to ensuring the development of the world economv is peace, peace for all nations, and co-operation on the basis of respect for each other's independence, sovereignty and mutual benefit. More than ever before, peace, national independence, development and social progress are the ardent aspiration of every nation, and their attainment requires the concerted efforts of the entire international community. Forty-five years ago this month, the guns of the Second Wbrld War were silenced in Europe, and some months later in Asia and the Pacific. For tM past 45 years, many countries of Asia and the Pacific and of other parts of the world have enjoyed peace during the period of their development efforts, whereas the Vietnamese people have underqone successive fierce wars for the independence, freedom and reunification of t.heir homeland. For the Past 10 years thev have been RH/20 A/S-18/PV. 8 92 
**Analysis**
The text discusses the importance of international economic cooperation, regional cooperation, and the need for peace to ensure development and social progress. It highlights the challenges faced by developing countries, such as the problem of countries producing the same products and the shortage of capital. The text also emphasizes the significance of international frameworks for economic cooperation and the need for concerted efforts to achieve development and social progress.

**Category**
Economic development, International trade