UN General Assembly
1987

Let me now stress the importance of initiatives which the developing world can take collectively. A concrete example is the Committee for Economic and Commercial Co-operation of the Organization of the Islamic Conference, which held its third meeting in Istanbul earlier this month. Within a short period this institution has registered palpable achievements. One such has been the creation of a long-term trade financing scheme. Such possibilities and potentialities abound in South-south co-operation. However, a sustained and organized impetus is needed in the form of investments and capital inflow, better access to the markets of the industrialized world and facilities for debt repayment in support of growth-oriented structural adjustment policies in developing countries. Increasing responsibility falls on the industrialized world to help overcome development problems by improving the international environment and sensibly raising their growth rate. In concluding, I wish to express my hope that the forty-second session of the General Assembly will be able to contribute to the search for peace and co-operation in the world.