A/RES/54/206 Page 2 1. Takes note of the report of the Secretary-General;2 2. Recognizes the efforts made to implement the Declaration on International Economic Cooperation, in particular the Revitalization of Economic Growth and Development of the Developing Countries, and the International Development Strategy for the Fourth United Nations Development Decade in the 1990s, and stresses the need to strengthen such actions in collaboration with, inter alia, efforts taken in the context of the United Nations New Agenda for the Development of Africa in the 1990s3 and its implementing arm, the United Nations System-wide Special Initiative on Africa, and the Programme of Action for the Least Developed Countries for the 1990s;4 3. Requests the Secretary-General, in consultation with all concerned organs and organizations of the United Nations system, including the Bretton Woods institutions, as well as other relevant international organizations, to submit to the General Assembly, for consideration at its fifty-fifth session, an update of the report of the Secretary-General;2 4. Also requests the Secretary-General, in collaboration with all concerned organs and organizations of the United Nations system, in particular the Committee for Development Policy, to submit to the General Assembly for consideration at its fifty-fifth session, through the Economic and Social Council, a draft text of an international development strategy for the first decade of the new millennium, with the aim of giving further impetus to international cooperation for development and of monitoring long-term trends in the global economy as well as the attainment of internationally agreed targets: (a) Building on the outcomes, inter alia, of the major United Nations conferences and summit meetings held during the 1990s, the Agenda for Development1 and any other relevant ongoing processes related to international cooperation for development; (b) Taking into account the dynamic changes to the world economy resulting from, inter alia, globalization, interdependence and liberalization and the rapid advances in science and technology; 5. Requests the President of the General Assembly at its fifty-fourth session to initiate consultations with all Member States with a view to establishing the modalities for the consideration and conclusion of the proposal of the Secretary-General called for in paragraph 4 above at the fifty-fifth session of the General Assembly; 2 A/54/389. Resolution 46/151, annex. 4 See Report of the Second United Nations Conference on the Least Developed Countries, Paris, 3-14 September 1990 (A/CONF.147/18), part one. 3 /...