Need for Change. Towards the New International Economic by Gamani Corea

By Gamani Corea

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The reason was that though it was not handicapped by size it failed because of substantive factors—the difficulty of reconciling the conflict of interests between the developed countries, oil-producing countries and the other developing countries. Size should not prevent the United Nations from serving as the main forum of negotiations. But it will have to innovate in this new phase and design instruments which would make the representative character of the UN compatible with the needs of a negotiating process.

In other areas, such as technology, economic co-operation among developing countries and least-developed countries, it provided mandates for new action programmes and work programmes for UNCTAD and the international community. In still other areas it did not yield any decisions whatsoever. However, in one way or another the agenda of UNCTAD will continue to be the agenda for the so-called North/South dialogue in the period to come. And now the General Assembly of the United Nations has taken a unanimous decision to launch a new round of global consultations within the UN forum, taking into account energy, trade and development, raw materials, food and a number of other central subjects.

Such an organization never came into being. The socialist countries of Eastern Europe have consistently supported the idea of establishing one and it has been suggested that UNCTAD and the GATT might eventually merge into a comprehensive trade organization. Although this kind of institutional evolution is still not on the agenda for action, I suspect that in the eighties the need may arise for putting it there. I have been saying in many of my speeches that perhaps sometime in the eighties there might be the need for a world economic conference, by which I did not mean the global negotiations that are now planned but a conference on the lines of the Havana Conference of the post-war period, in which the recasting of the world economic framework could be accomplished more comprehensively.

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