disciplines of the General Agreement on Tariffs and Trade (GATT). Indeed, the Agreement should be transformed into a full-fledged international trade organization with miversaHty of membership. . The global trade body, along with other economic and financial institutions already in existence, can facilitate efforts towards integration of the world economy. I should now like to tum to the problem of depressed comrrodi ty prices. The majority of people in developing countries, including Thailand, still derive their income from agricultural and extractive production. Here, a co-operative effort by 'I I i' 1\ BHS/ASW A/S-18/PV.2 158-160 (Mr. Limpabandhu, Thailand} all -including both the producers and the consumers -is needed to stabilize prices. Common approaches will also have to be found to assist in the processing, marketing and trade of ·comnodities. Producers-consumers co-operation is most desirable also in expanding research and development of more end-uses of comnodi ties. To offer developing countries a more predictable and stable source of income, compensatory financing of shortfalls in comnodity earnings with less conditionality should also be made available. In this regard, Thailand believes that the Common Fund for Comnodities is an important tool that could assist efforts to stabilize the commodity market, upon which the majority of the world's population is dependent. Many developing countries have continued to remain saddled with a debt problem that shows no sign of relenting. Indeed, I was alarmed to read in the report of the Secretary-General that between 1984 and 1989, the net outflow of funds from developing countries amounted to some $180 billion. These are precious resources that could have otherwise been used to promote the development of debt-ridden countries. ---J\IM/34 A/S-18/PV. 2 161 (Mr. Limpabandhu, Thailand) If we are to resolve this problem once and for all, an even-handed and equitable approach is needed. The international conmunity must reinforce, rather 
**Analysis**
The text primarily discusses the challenges faced by developing countries in the global economy, specifically in the areas of international trade, agricultural production, and debt relief. It highlights the need for cooperation among producers and consumers, as well as the role of international institutions in stabilizing commodity prices and promoting economic development.

**Category**
International trade, Economic development