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From the VATICAN INFORMATION SERVICE

EIGHTH YEAR - N.125

FRIDAY, JULY 10, 1998

SOLIDARITY, THE PATH FOR DEVELOPMENT AND ECONOMIC INTEGRATION

VATICAN CITY, JUL 10, 1998 (VIS) - Made public today was a speech delivered

by Msgr. Diarmuid Martin, head of the Holy See Delegation, on July 8, at a

meeting of the United Nations Economic Social Council taking place in New

York. The secretary of the Pontifical Council Justice and Peace, spoke on

"Solidarity among peoples: the sure path for development and economic

integration."

"Promoting investment, both domestically and from foreign sources, and

facilitating the widest participation in the world market are essential

elements for achieving sustainable development today."

Msgr. Martin stated that although countries North and South benefit from

economic globalization and the liberalization of access to markets, that

there are still nations and individuals who "remain on the margins of these

developments."

"To foster genuine social development and poverty reduction, the poorest

countries need forms of market access and participation in the global

economy which are sustainable."

The head of the delegation said that "trade barriers still remain and

these tend all too often to affect the products of particular interest to

the poorest nations and the poorest sectors of these nations, especially in

the agricultural sector. The least developed countries themselves, lack

technical ability and their limited technical resources are pushed beyond

capacity, having to face the new challenges of adjustment while continuing

to address long standing problems such as the resolution of chronic debt

burdens."

"In the new architecture of the world economy, the private sector must,

therefore, identify and assume certain appropriate social responsibilities.

My Delegation sees that these responsibilities must include a commitment to

sustainable investment and respect for fundamental human rights, rather

that the simple search for short-term comparative advantage or quick

economic gain."

DELSS/DEVELOPMENT:ECONOMY/U.N.:MARTIN VIS 980710 (290)

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