Resolution Paper Ideas
Committee ECOFIN
Main submitter United Kingdom of Great Britain and Northern Ireland
Co submitters Republic of South Africa, South Korea, Argentine Republic
Signatories New Zealand
The Federal Republic of Germany
Dominican Republic
Namibia
World Bank
International Monetary Fund
The members of the Economic and Financial committee are reaffirming the concerns
regarding the issues of economic dependency on a macro scale:
We are:
Recalling the General Assembly previous resolution on Commodity Dependence 30 January
1995 (A/RES/49/104)
A. Deeply concerned about the inefficiency and the lack of security posed by the markets
accessed by developing countries.
B. Alarmed by the mismanagement of the states’ budget, as well as the inefficient
investment of foreign aid.
C. Fully aware of the disadvantages brought by the current export and import policies.
D. Deeply alarmed by the hyperinflation that most economic dependent states face
E. Noting with regret the lack of proper mechanisms and sufficiently developed industries
that would facilitate the economic growth of developing countries.
1. Further recommends the definition of the concept of an aggressive market practice in
order to better assess aid to states in need
2. Advises the improvement of the allocation of resources, privileging investment in
productive sectors rather than consumption areas;
3. Suggests to periphery countries to join common market (such as the
Mercosur/Southern Common Market) to secure greater advantages for the market
block
4. Supports the regulations of foreign aid to enable states to invest in their needed
producing district such as:
i)reaching the FDI for developing the goods-producing industries in countries where
the production of raw material is increasing.
ii.advising that if more than 70% of a country's exports consist of raw materials, they should
be encouraged to invest at least 10% of the financial foreign aid in developing the
manufacturing industry of said materials.
5.Combines both long and short term export policies by:
i. increasing the availability for credit meant to encourage small and medium enterprises to
operate on the domestic market;
ii. improving duty drawback schemes with the elimination of duty-pre-payment for exporting
firms in order to reduce credit requirements;
6. Invites to special consideration to the development of the fields of agriculture, research,
education as that creates value based economy and extension services needed in each
country, thus providing the scientific leadership necessary for continuing technological
developments.
7. Affirms the necessity of implementing steps to establish, strengthen or improve those
services where they are now inadequate;
i. giving special consideration to the development of agricultural research, education and
extension services needed in each country, thus providing the scientific leadership necessary
for continuing technological development;
ii. offer special consideration to the development of those economics services which are
necessary and desirable as agriculture progresses, including economic intelligence and
market news services;
8. Calls for the reduction of production costs to increase productivity in order to ensure that
commodity-dependent developing countries are competitive in international commodity
markets.
9. Express our appreciation for all UN Members States that will establish trade relations with
commodity-dependent states with the goal of creating new industries and workplaces.
