member States. Concerted measures, not only to reverse the economic decline but also to create a basis for meaningful, sustainable and people-based economic development, are therefore of the utmost urgency. In 1987 SADCC exports and imports were estimated at $7.2 billion and $6.6 billion respectively, which represented a slight improvement in the trade balance of $0.6 billion. That situation reflected both some improvement in commodity prices and massive import repression. However, despite this development in the balance of trade, SADCC countries incurred an aggregate current account deficit of some $13.6 billion. This large deficit was attributable to outflows on the invisible account, primarily debt repayments. JVM/15 A/S-18/PV. 5 63 (Mr. Mogae, Botswana) SADCC member States have responded to the crisis by instituting policy reforms, which have resulted in an improvement in our economic performance, as represented by an average gross domestic product growth of 4.5 per cent in 1989. These reforms have focused mainly on public finance and monetary policy. As progress was achieved in the infrastructure and services sectors, and also in order to address the fundamental economic structural problems, SADCC shifted emphasis to the issues of investment in production. In this effort SADCC enlisted the assistance of the local and foreign business communities to identify the constraints to investment in the region. Hence the last three SADCC Annual Consultative Conferences, two conferences of businessmen and numerous smaller meetings with the representatives of the region's business community have been devoted to this subject. The message that came out of these consultations was that the region had to improve its overall investment climate in such a way that the investor would feel both welcome and confi.oent. We will leave no stone unturned in our efforts to encourage investment in our region. Studies and investigations 
**Analysis**
The text appears to be discussing the economic situation of the SADCC (Southern African Development Coordination Conference) member states, highlighting the need for concerted measures to address economic decline and create a basis for sustainable development. It mentions policy reforms, investment in production, and improving the investment climate, which suggests that the text is primarily focused on economic development.

**Category**
Economic development, International trade