(Mr.Insanallv, RapPOrteur, AdHoc Committee oftheEighteenth Special Session) Further, helped bvflexibility andstrategic thinking, theGeneral Assemblv will, forthefirsttimeever,adoptaconsensus on&btinwhichreference is appropriately madetodebtowedtomultilateral financial institutions. The document alsocontains appropriate statements ontheefforts oftheEastern European countries tointeqrate themselves intotheinternational economv. Asa result, thedraftdeclaration maytrulybeconsidered apioneering landmark inthe annalsofinternational economic co-operation. Theinternational community maytherefore justlycongratulate itselfonthis significant accomplishment. Iwouldwishinparticular tothankyou, Mr.President, forvouractiveinterest intheworkofthespecial session. Indeed, inthefi.nalhoursofourworkyesterday youintervened likeadeosexmachina to leadustoanexi.tfromtheimpasse towhichthenegotia tionshadcome. Without vourbenevolent assistance andthatoftheSecretary-General, ourefforts mightnot havebeenveryfruitful. Thehigh-level consultations youwerebothmandated to conduct underthetermsofdecision 43/460provided animportant dynamic forour deliberations. Thecomprehensive repOrtoftheSecretary-General offered valuable insights intothepresent statusoftheworldeconomy anduseful recommendations on waysandmeansofachieving itsfuture growth. TheSecretariat isthusdeserving ofourfullappreciation fortheconsiderable andcontinuous services rendered to theCommittee. Aspecial wordoftribute mustgotheChairman oftheAd·Hoc Committee, Ambassador ZepOsofGreece, andhiscolleagues forhaving provided inspired and inspiring leadership inthesearch forconsensus. Atastaqewhenitbecame difficult toreconcile thethreebasictexts-thosepresented bvtheGroupof77, Canada andtheEuropean Community -theChairman wasabletoformulate anewEMS/4 A/S-18/PV.ll 10 (Mr.InsanallYi Rapoorteur, Ad-Hoc Committee-of theEighteenth Special-Session)---1 Iversion whichnetwithwidespread approval. Itwasfromthattimely andthoughtful contribution thatthefinaldraftdeclaration waselaborated. TheAd-Hoc Committee andindeed theAssembly asawholeowehimadebtofgratitude. Thesuccess ofthe negotiating process isalsoattributable inlargemeasure totheconsiderable diplomatic skillsoftheChairman oftheGroupof77,therePresentative of Bolivia, andtoallotherrepresentatives inthecontact groupwhoseunderstanding andco-operative approach madeeventual aqreement possible.JB/5 A/S-18/Pv.ll 11 (Mr,·Insanally,· Rapporteur, AdHoc Committee· of·theEighteenth Special·Sessionl Thedocument wasformulated onlyafterthemostconscientious andpainstaking1 consideration ofalltheissues involved. Itthusrepresents asuccessful distillation ofthemanyideasandproposals advanced bIMemberStates inthe courseofourmeetinqs. Basedasitisonconstructive dialogue andmutual concessions, itembodies freshthinking andapproaches thatcannowinfuse newlife intointernational economic co-operation. Itshould thusserveasanimlX>rtant inPutintoaseriesoffutureinternational economic events, includinq theuocominq ParisConference ontheLeastDevelOPed Countries, thepreparations forthefourth International Development Strateqv, theseventh session oftheUnitedNations Conference onTradeandDevelopment, andthe1992Conference onEnvironment and Development. Equally important, itgivestotheUnitedNations newprideofplace asacatalyst forimproved andincreased globalm-operation. Ultimately, howev"r, theDeclaration willonlyhavevaluetotheextentthat itisfullyembraced andimplemented byMemberStates. Thearchives oftheUnited Nations arealready replete withdeaddocuments. ItisthehopeoftheAdHoc Committee, therefore, thatthepolitical willthatcreated theDeclaration will continue toinspireitsfuturelife. Inthiscontext, Ishouldliketoremind the Assembly oftherecommendation madeinGeneral AssemblY decision 43/460thatthe Declaration should nqenerate andsharpen public awareness" ofitsexistence and aspirations, sothatthrough widedissemination, itcancountonthefullsupport andblessings ofallGovern.ments andpeoples. Insubscribing totheDeclaration, theinternational community willbeonthe threshold ofaneweraofco-operative interdependence. Wemustnowproceed tothe
**Analysis**
The text appears to focus on the outcome of a special session of the United Nations General Assembly, discussing the adoption of a declaration on international economic cooperation. The document aims to promote global economic growth, development, and cooperation, and mentions specific events and conferences related to international economic issues. The text also highlights the role of multilateral financial institutions and the efforts of Eastern European countries to integrate into the international economy.

**Category**
Economic development, International trade