CM/Res.1141 (XLVII)
RESOLUTION ON THE RESULTS OF THE SEVENTH SESSION OF THE UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT (UNCTAD VII)
The Council of Ministers of the Organization of African Unity, meeting in its Forty-seventh Ordinary Session, in Addis Ababa, Ethiopia from 22 to 27 February 1988,
Recalling Resolution CM/Res.1108 (XLVI) requesting the OAU Secretariat to monitor the outcome of UNCTAD VII,
Having considered the report of the Secretary-General on the Seventh Session of the United Nations Conference on Trade and Development (UNCTAD VII) held in Geneva, Switzerland, from 9 July to 3 August, 1987 (Doc. CM/1464 (XLVII)),
Taking note of the report of the Permanent Steering Committee on its evaluation of the results of UNCTAD VII, (Doc. PSC/2 (XLII)),
Noting with grave concern that African economies have been in a crisis since 1985 due, inter alia to the collapse of commodity prices and the consequential drop of export earnings of Africa,
Concerned that the international economic environment has been rendered most unstable and unpredictable and characterized by fluctuating exchange rates, high real interest rates, collapse of prices of commodities of export interest to African countries and by continued rise in the cost of imported goods to African countries and by continued rise in the cost of imported goods of Africa leading to drastic deterioration in Africa’s terms of trade and balance of payments,
Further alarmed at the persistence of this state of affairs which further aggravates the external debt crisis of African countries:
ENDORSES the recommendations of the Permanent Steering Committee, on its evaluation of the results of UNCTAD VII (Doc. CM/1467 (XLCII));
COMMENDS the African Group and the Group of 77 for having maintained their solidarity throughout the negotiations in defence of the position and interest of developing countries;
REQUESTS the Secretary-General of the OAU to:
establish direct contact with the Government of Japan with a view to explore how African countries could benefit from the Japanese offers made at UNCTAD VII, and with other countries which have made similar offers of assistance to developing countries;
undertake consultations with ECA and UNCTAD Secretariats in order to assist African countries to implement all the decisions contained in the Final Act of UNCTAD VII, and to facilitate the early bringing into operation of the Agreement on the Common Fund for Commodities.
URGES all African countries to intensify their effort to implement the decisions contained in the Final Act of UNCTAD VII;
CALLS ON all OAU Member States to provide the General Secretariat of the OAU with detailed information on the actions they have taken or initiated, to implement the decisions of UNCTAD VII, as well as the difficulties encountered so as to enable the Permanent Steering committee to monitor the progress in the implementation of those decisions;
STRESSES the need for the full implementation of the decisions contained in the Final Act of UNCTAD VII relating to implementation of the Substantial New Programme of Action (SNPA) for 1980’s for the Least Developed Countries (LDC’s) and REQUESTS the Permanent Steering Committee to prepare an African evaluation of the implementation of the SNPA prior to the global review to be undertaken at the United Nations Conference at high level on the Least Developed Countries, scheduled for 1990.