UN General Assembly
1989

With regard to global trade and the economic developments that have taken place in the recent past, we note that the industrialized countries have moved towards structural adjustment policies to address the issues of low growth and high inflation through the liberalization of trade, the elimination of industrial and agricultural subsidies and the creation of employment opportunities. We also note that many developing countries have experienced not only slow and stagnant economic growth but debt problems as well. As a result of these continuing economic difficulties many developing countries, including Papua New Guinea, have undertaken stringent economic policies and programmes to maintain sustainable economic growth. While there has been progress in some of those areas, Papua New Guinea, with a developing and agriculturally based economy, is concerned that the effects of protectionist pressure exercised by industrialized economies on some of our