UN General Assembly
1989

We believe that the way to bring stability to commodity markets and ensure remunerative prices fair to producer and consumer alike is to make effective use of the mechanisms provided by the Integrated Programme for Commodities. One such mechanism is the Common Fund for Commodities. My delegation, therefore, welcomes the coming into force of the Agreement on the Common Find for Commodities earlier this year. We should all work actively and constructively to make the Common Fund a worthy example of international co-operation for development. The large fiscal and trade imbalances of some of the major economies have created considerable strains in the trading system. Protectionist pressures have been mounting, as have unilateral actions. Access of developing countries' exports to markets in the industrialized countries has become increasingly difficult. The Uruguay round of multilateral trade negotiations must lead, among other things, to the removal of both tariff and non-tariff barriers, so as to restore free trade to its proper place in the international trading regime.