A/RES/59/224 Taking note of the São Paulo Consensus adopted at the eleventh session of the United Nations Conference on Trade and Development, 8 particularly the paragraphs relating to commodities Taking note also of the report of the Trade and Development Board on its fiftyfirst session, 9 Recognizing that commodity prices are an important element for heavily indebted poor countries that are dependent on commodities for maintaining longterm debt sustainability, Taking note of the targets set out in the Rome Declaration on World Food Security and the Plan of Action of the World Food Summit 10 and the outcome document of the World Food Summit: five years later, 11 which reaffirms the pledge to end hunger and poverty, Recognizing that structural changes in international commodity markets, particularly the increasing concentration in trade and distribution, constitute new challenges for small farmers, commodity producers and exporters in developing countries, Expressing its concern about the difficulties experienced by the developing countries in financing and implementing viable diversification programmes, which are essential for sustainable development and for attaining access to markets for their commodities, Takes note of the report of Secretary-General on world commodity trends 1. and prospects, 12 including the fact that while prices have improved for some commodities, the real prices of others remain on a declining trend; 2. Recognizes that many developing countries are highly dependent on primary commodities as their principal source of export revenues, employment, income generation and domestic savings and as the driving force of investment, economic growth and social development; Reiterates the importance of maximizing the contribution of the 3. commodity sector to sustained economic growth and sustainable development, while continuing diversification efforts in commodity-dependent developing countries; Emphasizes the need for efforts by the developing countries that are 4. heavily dependent on primary commodities to continue to promote a domestic policy and an institutional environment that encourage diversification and liberalization of the trade and export sectors and enhance competitiveness; Reaffirms that each country has primary responsibility for its own 5. economic and social development, and recognizes that an effective enabling environment at the national and international levels entails, inter alia, a sound macroeconomic framework, competitive markets, clearly defined property rights, an attractive investment climate, good governance, an absence of corruption and well_______________ 8 TD/412, part II. Official Records of the General Assembly, Fifty-ninth Session, Supplement No. 15 (A/59/15), part five. 10 Food and Agriculture Organization of the United Nations, Report of the World Food Summit, 13–17 November 1996 (WFS 96/REP), part one, appendix. 11 Ibid., Report of the World Food Summit: five years later, 10–13 June 2002, part one, appendix; see also A/57/499, annex. 12 A/59/304. 9 2