34.95 TheGulfCo-operation Council hasinitiated manystepstoadvance financial, monetary andeconomic co-operation amongitsmembers. Therecently established ArabCo-operation Council isalsoaspiring tostrengthen similar areasof co-operation amongitsmembers. Thesedevelopments haveafar-reaching impact on theeconomies oftheregion. Examination andanalysis ofthedevelopments andthe obstacles confronted isofmajorimportance. 34.96 Theestablislment ofawell-functioning Government aimingatachieving satisfactory results inpublic administration andfinance atthemultisectoral as wellastheregional levelwithin thecountry isstillhindered bymanyobstacles, mostimportant amongwhicharethehumanelement andtheinstitutional infrastructure. -24- Digitized by Dag Hammarskjöld Library- 34.97 Theobjective ofthesubprogramme istoexamine andassessnational and regional efforts inresource mobilization, management andallocation. More specifically, theobjective istoseekmeanstoaddress suchissuesasexternal debt,adjustment policies andprivatization, andtoexamine andassessmonetary and financial co-operation amongthemembers oftheGulfCo-operation Council. (b)Courseofactionofthesecretariat 34.98 Theactivities ofthesecretariat undersubprogramme 10arelargely basedon research andpublication ofreports orstudies. Technical assistance willbe provided uponrequest bymembercountries. Theissuestobecovered duringthe threebienniums ofthemedium-term plan ~re: (a)Themonitoring offiscalandmonetary developments andtrendsinthe ESCWAregion; (b)Finance anddevelopment planning andmanagement inselected ESCWA countries; (c)Financial, monetary andeconomic co-operation inthecountries ofthe GulfCp-operation Council; (d)Investment incentives inselected ESCWAcountries; (e)Management offinancial institutions intheESCWAregion; (f)External debtandfinancial andeconomic management inselected ESCWA countries; (g)Multisectoral pUblicadministration inselected ESCWAcountries; (h)Management andorganization ofGovernment inselected ESCWAcountries. SUBPROGRAMME 11.SCIENCE ANDTECHNOLOGY (a)Objectives 34.99 Thelegislative authority ofsubprogramme 11derives fromGeneral Assembly resolution~ 34/218, 41/65, 41/160, 42/180, 42/192, 43/56,43/184, 43/443 and44/14, section B,paragraphs 1to4. 34.100 TheESCWAregionisfacing acrucial needfortheendogenization ofits science andtechnology activities. Mostoftheissues andproblems addressed in theVienna Conference onScience andTechnology forDevelopment adecade agoremain valid. Inaddition, theregion nowfacesthechallenges ofnewtechnologies and theirimplications. 34.101 Theneedtosupport research anddevelopment andencourage technological innovation inbasicandnewtechnologies isnowwellrecognized intheregion. Thereis,however, stillgreatambiguity withregardtopolicymeasures and mechanisms neededforthispurpose. Therefore, theundertaking ofactivities that address theproblems ofinnovation, research anddevelopment andtheirlinkages withtheproduction system, andthecommercialization ofresearch anddevelopment activities isenvisaged. -25- Digitized by Dag Hammarskjöld Library34.102 'Oneofthemainfeatures oftheESCWAregionisthatitconsists ofa number ofsmallcountries inwhichthescaleofscientific andtechnological activities islimited inscopeandcoverage. Technological co-operation is, therefore, necessary tomaximize thebenefits ofscientific andtechnological resources. 34.103 Theobjectives ofthesubprogramme are: (a)Toassist memberStatesinidentifying therequirements forformulating science andtechnology policies andplanswithinenvironmentally soundand sustainable development; indeveloping localtechnological capabilities for participating inallaspects oftechnology policies, suchasnegotiating, selecting, transferring, adopting anddeveloping technology; informulating guidelines andmeasures todealwithreverse transfer oftechnology; andin
**Analysis**
The text appears to be focused on the development of the Gulf Cooperation Council and the Economic and Social Commission for Western Asia (ESCWA), discussing financial, monetary, and economic cooperation, as well as science and technology development in the region. The language used is formal and technical, suggesting a focus on policy and planning rather than specific industries or sectors.

**Category**
Economic development, Science and technology