Paragraph 22oftheDeclaration, ontheotherhand,willsurely beseenas setting forthmoreclearly theprogress madebytheGeneral Assembly atthis special session. WhiletheprinciPle oftheparticipation ofthedeveloping countries inthemechanisms fortheco-or"dination ofmacro-economic policies has notyetbeenendorsed, itisimportant toemphasize thecommitments madebythe developed countries; particularly thosewhosemacro-economic policies affect the wholeoftheworldeconomy, tomakeadditional efforts topromote sustained growth andreducetheirstructural imbalances sothatothercountries maybenefit from suchgrowth. Thosecountries alsopledge totakefullYintoaccount, within the framework oftheco-ordination ofthosepolicies, themajordevelopment interests andconcerns ofthedeveloping countries, asemphasized intheotherprovisions of theDeclaration, pertair,ing totheurgentrevitalization oftheireconomic growth andtheirdevelopment. Theinstruments forsuchco-ordination arealsomentioned inparagraph 22,whichunderscores theneedtostrengthen theeffectiveness of nultilateral surveillance anditscomponents. Inconclusion, Iwishtopointoutthatitisonlybymeansofco-ordination, withtheparticipation ofthedeveloping countries, capable ofreflecting their interests andconcerns, thatitwillbepossible, through broader andmorepreciseJP/jl A/S-18/PV.ll 28 (Mr.Ghezali Tunisia) multilateral surveillance, toprovi&! forsustained, lasting growthoftheworld economy, whilequaranteeinq qrowth ofthedevelopinq countries, aswellastheir socio-ecanomia development.. The·PRESIDENT: Thenextspeaker istherepresentative ofIreland, who willspeakonbehalfoftheStatesmembers oftheEuropean Communitv• Mc;.HAYES(Ireland): Speaking i.nexplanation ofvoteonbehalfofthe European Community anditsmemberStates, Ishouldliketopayaspecial tribute to VDU,Mr..President, foryourinitiative yesterday whichenabled ustnreach consensus onourDeclaration andsuccessfullY tocomplete theworkofthe eighteenth speci.al session oftheGeneral Assembly. Ishouldalsoliketorepeat theheartfelt thanks weexpressed lastnighttoAmbassador Zeposforhis extraordinary efforts onbehalfofallofus,whichbrought thepreparatory process forourDeclaration toitssuccessful outcome. TheEuropean Community recognizes thesolemnness andimportance ofthis occasion, whenwe,theMember StatesoftheUnited Nations, havejustadopted a Declaration oninternational economic co-operation forthesustainedqrowthofthe worldeconomy andinparticular therevitalization ofeconomic growth and develo,,",ent ofdeveloping countries. Thisisaoocument whichwillbeofthe greatest importance fortheEuropean Community anditsmemberStates. Itformsa newglobal consensus representing abroadaPProach todevelOPment moving beyond the shortterm. Wearesatisfied withtheoutcome ofourspecial session, and particularly thefactthatitwasreached byconsensus. Wearegladtohave participated fullYintheelaboration ofthisdocument. OnbehalfoftheEuropean Community anditsmemberStates, Iwishtoplaceon recordthatweattachparticular importance totherecognition thatdemocracy and pluralistic institutions arebasicrequirements forallhumanbeings toallowthemJP!jl A!S-lS!PV.ll 29 CMr.Haves,· Ireland) tolivelivesfreefromhunqer, povertv, iqnorance, disease andfear. Wealsonote theimportance oftheprivatesector, oPen-market-or iented policiesandprivate capitalflows, togetherwithahealthypublicsector asthebuildinqbricks for-1 developmen t. Weseetheparaqraph dealinq withthedebtproblems asinnowavaffectinq the comPetence oftheinternatiooal financial institutions. Westress theimportance oftheGeneral Agreement onTariffs andTrade (GATT) andtheUruquay Roundinthe tradearea. Wealsoattachgreatimportance tothereference topopulation policies, whichinourviewareamajorelement intheareaofdevelopment. We shouldliketounderlineourconcern forth<>problems oftheleastdeveloped countries andoursupPOrt forasuccessful outcome oftheUnited Nations Conference tobeheldinParisinSeptember. Finally, letmereiterate theacceptance without reservation bvtheEuropean Communi tyanditsmember StatesoftheDeclara tionandourundertakinq toworkin co-oPeration withourpartners inthedeveloPed anddevelopinq worldtoattainits
**Analysis**
The text discusses international economic cooperation, sustainable growth, and development, with a focus on the participation of developing countries. It mentions macro-economic policies, structural imbalances, and the role of international financial institutions. The text also touches on issues related to democracy, pluralistic institutions, and private sector involvement. These themes suggest that the text is primarily concerned with economic development and international trade.

**Category**
Economic development, International trade