A/RES/48/55 Page 4 Welcoming Trade and Development Board decision 402 (XXXIX) of 26 March 1993 9/ on sustainable development and its conclusions 407 (XL) of 1 October 1993 10/ regarding the contribution of the United Nations Conference on Trade and Development, within its mandate and in the context of sustainable development, to the study of the interlinkages between trade and environment, 1. Takes note of the reports of the Trade and Development Board on the second part of its thirty-ninth session 11/ and the first part of its fortieth session, 12/ and calls upon all States to take appropriate action to implement the outcome of those sessions; 2. Emphasizes the importance of follow-up and monitoring of the implementation of the policies and measures contained in the Cartagena Commitment; 5/ 3. Takes note of the conclusions derived from the debate of the Trade and Development Board, which was underpinned, inter alia, by the Trade and Development Report, 1993, on the international implications of macroeconomic policies and issues concerning global interdependence, as constituting a concrete contribution to the changing of perceptions on issues concerning growth dynamics in various regions, particularly with respect to the conceptual framework, design and implementation of structural adjustment policies; 4. Recognizes that trade liberalization by all countries, in particular the developed countries, is an important tool for increasing economic efficiency and improving resource allocation, economic growth, sustainable development and employment in all countries; 5. Stresses in this context the urgent need for trade liberalization and improved access to the markets of all countries, in particular those of the developed countries, in order to generate global economic growth and sustainable development for the benefit of all countries, in particular the developing countries, as well as countries with economies in transition; 6. Emphasizes that, in order to promote sustainable development through trade, the removal of existing distortions in international trade is essential, emphasizes, in particular, the need for a substantial and progressive reduction in the support and protection of agriculture, covering internal regimes, market access and export subsidies, as well as of industry and other sectors, so as to avoid inflicting large losses on the more efficient producers, especially in developing countries, and in this context further emphasizes that trade liberalization should be pursued on a global basis across economic sectors so as to contribute to sustainable development; __________ 9/ Ibid., chap. I, sect. B. 10/ See A/48/15 (vol. II), chap. I, sect. A. 11/ A/48/15 (vol. I). 12/ A/48/15 (vol. II). /...