Commodities

Notes the need of the developing countries for stable and more predictable commodity prices; expresses the urgent need for supportive international policies to improve the functioning of commodity markets through efficient and transparent price formation mechanisms; urges developed countries to continue to support the commodity diversification and liberalization efforts of developing countries; reiterates the importance of maximizing the contribution of the commodity sector to economic growth and sustainable development; encourages the Common Fund for Commodities to direct its commodity development programmes more towards commodity sector diversification projects, as well as to promote commodity market development in developing countries; invites UNCTAD to provide assistance to developing countries in the financing of commodity diversification; also invites UNCTAD to consider issues related to commodities in the preparation for its 10th session, to be held in Thailand in the year 2000.

Adopted without vote, 91st meeting

3 p.

Adopted at the 91st plenary meeting, 15 Dec. 1998.