Commission onTransnational CorpQrations ofissuesrelated tQtheactivities oftransnational banks, "Taking intoaccount thelinkage existing between theactivities of transnational banksontheonehand,andfinancial flowofresources to,and theexternal indebtedness cf,thedeveloping countries ontheother, "Requests theSecretary-General toprepare areport onthecontribution thattransnationa1 bankscouldmaketQwards asolution totheexternal debt crisisofdeveloping countries, inthecontext Qfrecentproposals forthe reduction ofthestockandservice ofdebt,forsubmission totheCommissiQn onTransnatiQnal Corporations atitssixteenth sessiQn." 135.Atits13thmeeting, on14April,theCommission hadbeforeitadraft resolution (E/C.10/1989/L.14), submitted bytheChairman oftheCQmmission onthe basisofinformal consultations heldondraftresolution E/C.10/1989/L.IO. 136.Atthesamemeeting, theChairman madeastatement inwhichhewithdrew draft resolution E/C.10/1989/L.14. 137.Alsoatthesamemeeting, therepresentative ofSwitzerland madeastatement inwhichhereintroduced draftresolution E/C.lO/1989/L.14. 171Inaccordance withrule72oftherulesofprocedure oftheEconomic and SocialCouncil. "; -51- BestHardCopyAvailable J 138.Therepresentative oftheUnited Kingdom ofGreatBritain andNorthern Ireland madeastatement. 139.Theobserver forMalaysia, onbehalf oftheStates Members oftheUni~Jd Nations thataremembers oftheGroupof77,proposed amending thedraftresolution byinserting thewords"forsubmission totheCommission onTransnational Corporations atitssixteenth session" afterthewords"toprepare" inthe operative paragLaph. Thisamendment wasaccepted bythesponsor. 140.Therepresentative ofMexico proposed theaddition ofthewords"withserious debt-servicing problems" attheendofthelastpreambular paragraph andafterthe words"certain othercountries" intheoperative paragraph. Theamendment was accepted bythesponsor. 141.Therepresentative oftheUnited States ofAmerica madeastatement inwhich herequested aroll-call voteonthedraftresolution, asamended. 142.Atthesamemeeting, theCommission adopted draftresolution E/C.10/l989/L.14, asorally amended, byaroll-call voteof33to1,with1abstention {seechap.I, sect.A.,draftresolution VIII). Thevoting wasasfollows: Infavour: Brazil, Burundi, Byelorussian SovietSocialist Republic, Cameroon, China, Colombia, CostaRica,Cuba,Czechoslovakia, France, Gabon, German Democratic Republic, Germany, Federal Republic of,Ghana, India, Indonesia, Iran(Islamic Republic of), Iraq,Italy, Jamaic[', Japan, Mexico, Netherlands, Norway, Peru, Poland, Switzerland, Tunisia, Turkey, Uganda, UnionofSoviet Socialist Republics, United Kingdom ofGreatBrita.in andNorthern Ireland, Venezuela. Against: United States ofA~merica. 143.Afterthedraftresolution wasadopted, statements weremadebythe representatives ofCanada, Japan, Norway, France (onbehalf alsooftheFederal Republic ofGermany, Italy, theNetherlands andtheUnited Kingdom ofGreatBritain andNorthern Ireland) andtheUnionofSovietSocialist RepUblics. 144.Inthelightoftheadoption ofdraftresolution E/C.10/l989/L.14, draft resolution E/C.10/1989/L.lO waswithdrawn bythesponsors. B.Roleoftransnational corporations inotherservices !I 1I j..145.TheCommission considered item10(b)ofitsagendaatits6thand 7thmeetings, on10April1989.Ithadbeforeitthereport ofthe Secretary-General ontransnational corporations inservices otherthanbanking (E/C.I0/l989/l4). 146.Inintroducing theitem,theActing Assistant Director ofthePolicy Analysis andResearch Division oftheCentre referred tothepriorities andobjectives of developing countries whichformed thebackground totherelationships between developing countries andtransnational corporations inservices. Developing -52- countries hadfocused theirattention mainly oninfrastructural services catering"""""1 tobasicsocial needsorproviding support toagricultureandindustry. However, ~! somemiddle-income andhigher-income countries werebeginning toattachgreater ~j
**Analysis**
The text appears to be discussing the activities of transnational corporations, specifically banks, and their impact on developing countries' external debt crisis. The report being requested by the Commission on Transnational Corporations is related to the financial flows and external indebtedness of developing countries, which suggests a strong connection to economic development and international trade.

**Category**
Economic development, International trade