(Mr;, Wilensk i; · Australia) countries may be able to capitalize more quickly on improved trade opportunities, particularly in primary commodities. Australia is Particularly concerned that many countries, particularly in the Asian-Paci fie area are increasinqly burdened by their debts thouqh they continue to service them. These countries bear the burdens of poverty, for they contain nost of the world's poor people, and most have adopted economic policies which have facilitated continuinq and successful structural adjustment, but their debt and debt-service obliqa tions are substantial and each increase in interest rates, each reduction in qlobal tradinq opportunities, pUnishes these countries, and their poor, severely. These countries have the capacity productively to absorb increased capital flows and no one should draw the false conclusion that because they are servicinq their debts they are also able to fund satisfactory levels of na tiona! developnent. In reqard to official <Evelopment assistance, Australia continues to accept a commitment to work towards achievinq the aid tarqet of o. 7 Per cent of qross national product and sees value in the maintenance of such tarqet as a spur to our efforts and those of others. In the short time available, however, I should like to turn to trade, which is of critical importance to qlobal economic co-operation and to the revitalization of the development process. It dwarfs aid and other financial flows as a source of foreign exchanqe for developinq countries. The World Bank has estimated that protectionism reduces <EveloPinq countries • income by an amount twice that of development assistance each year. Clearly, one of the most imPortant contributions that developed countries can nake to their own development and that of the developinq countries is to oPen uP international markets for developinq-country Products and to allow them to comPete fairlY and freely in the qlobal market 
**Analysis**
The text primarily focuses on the importance of trade and international cooperation for economic development, particularly for developing countries. It highlights the challenges faced by these countries due to debt burdens and the need for open international markets to allow them to compete fairly. The text also touches on the importance of official development assistance and the commitment to achieve a certain aid target. Given the emphasis on trade, economic development, and international cooperation, it is likely that the text falls under the categories related to these themes.

**Category**
International trade, Economic development