Yearbook of the United Nations
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CHAPTER IV: International Trade, Finance, and Transport
In keeping with the recent trend, international trade again exceeded world output in 1994, rising in volume by close to 9 percent, mainly due to expansion of trade manufactures. The prices of many non-oil commodities rose sharply during the year, partly because of an upsurge in demand but also because of speculative trading and a declining dollar. The United States and Western Europe received a strong impetus from exports, especially to the developing countries in East and South-East Asia and Latin America. Although Africa showed a slight improvement in terms of trade, long-term development performance remained depressed by commodity dependence, poor infrastructure, over-indebtedness, low levels of domestic investment, and caution by foreign investors, as well as by political instability and conflicts.
Preparations for the ninth session of the United Nations Conference on Trade and Development (UNCTAD IX), to be held in 1996, began with the approval in March 1995 by the UNCTAD Trade and Development Board (TDB) of a development-oriented provisional agenda. Following an offer from South Africa, received during TDB's September session, the General Assembly in December decided to convene UNCTAD IX in Midrand, Gauteng Province. The Conference was to have the unifying theme: "Promoting growth and sustainable development in a globalizing and liberalizing world economy."
Following consideration of international trade and development issues in December, the Assembly invited UNCTAD to follow developments in the international trading system, particularly their implications for developing countries, and to identify new trading opportunities arising from the implementation of the 1994 Uruguay Round agreements.
Questions of trade, environment, and sustainable development were discussed by the Commission on Sustainable Development and by UNCTAD's Ad Hoc Working Group on Trade, Environment, and Development, which completed its work in 1995. The Assembly invited UNCTAD and the UN Environment Programme to continue their joint programme on trade and environment issues.
The Third UN Conference to Review All Aspects of the Set of Multilaterally Agreed Equitable Principles and Rules for the Control of Restrictive Business Practices took place in November. The Conference requested the UNCTAD secretariat to revise periodically the commentary to the model law on restrictive business practices and to disseminate widely the model law and its commentary. In the area of commodities, the International Natural Rubber Agreement, 1995, was adopted in February and opened for signature in April.
The debt of low-income and some middle-income countries continued to cause concern during 1995. The Assembly in December called on the international community to implement the commitments of the major UN conferences and summits on development, organized since the beginning of the 1990s, addressing the question of external debt.
The newly named Commission on International Investment and Transnational Corporations met in April to discuss trends in foreign direct investment (FDI) and related issues. It recognized the role of investment for development, especially for Africa, and supported international activities to increase FDI flows.
With regard to transport, the Economic and Social Council, having reviewed the work of the Committee of Experts on the Transport of Dangerous Goods, requested the Committee to elaborate proposals for globally harmonized criteria for the classification of flammable, explosive and reactive materials.
Preparations for unctad IX
As requested by TDB in 1994, (1) the Officer-in-Charge of UNCTAD carried out informal, open-ended consultations on the provisional agenda for the ninth session of UNCTAD, to be held in 1996. At the second part of its 41st session (Geneva, 20-31 March 1995), (2) TDB approved the provisional agenda and agreed annotations for UNCTAD IX, requested the Officer-in-Charge to complete the provisional agenda with the customary procedural and administrative items and annexed to its report a background note on the agenda, prepared by the secretariat. On 31 March, TDB noted the Final Communiqué of the Eighteenth Meeting of the Chairmen and Coordinators of the Group of 77 (developing countries) Chapters (Geneva, 14-15 March) (3) and annexed it to its report.