UN General Assembly
2000

stage of the development of the world economy. It is a complex and objective process. Countries are concerned about the prospects of this phenomenon. While opening up new possibilities for developing economies, ensuring sustainable development and improving the welfare of peoples, globalization could also have tangible negative consequences for States with economies in transition and for developing countries. In this regard, I would like to underline that the United Nations must make fuller use of its capacities, as well as those of its specialized agencies, to assist States in anticipating and ensuring the early prevention of the possible negative consequences of globalization and the increasing interdependency of States. The United Nations is called upon to continue to play a key and effective role in strengthening international economic cooperation and advising States on all major issues of global development. Azerbaijan is making its own contribution to the development of the process of globalization. Located at the point where Europe and Asia meet, with a diversified economy and rich in natural resources, including hydrocarbons, my country serves as an