A/RES/59/240 crucial task is to enhance the efficacy, coherence and consistency of macroeconomic policies and an enabling domestic environment is vital for mobilizing domestic resources, increasing productivity, reducing capital flight, encouraging the private sector and attracting and making effective use of international investment and assistance, and in this regard stresses also that efforts to create such an environment should be supported by the international community; Underlines the fact that, in addressing the linkages between globalization 6. and sustainable development, particular focus should be placed on identifying and implementing mutually reinforcing policies and practices that promote sustained economic growth, social development and environmental protection and that this requires efforts at both the national and international levels; Reiterates that success in meeting the objectives of development and 7. poverty eradication depends, inter alia, on good governance, both within individual countries and at the international level, sound economic policies, solid democratic institutions that are responsive to the needs of the people and improved infrastructure, which are the basis for sustained growth, poverty eradication and employment creation, and that transparency in financial, monetary and trading systems and commitment to an open, equitable, rule-based, predictable and nondiscriminatory multilateral trading and financial system are equally essential; Stresses that improved coherence between national and international 8. efforts and between the international monetary, financial and trading systems is fundamental for sound global economic governance; in this context reaffirms the commitment to improving the coherence between those systems in order to enhance their capacities to better respond to the needs of development and recognizes that the institutional dimension in terms of development is central; emphasizes that development should be at the centre of the international economic agenda and that coherence between national development strategies, on the one hand, and international obligations and commitments, on the other, contributes to the creation of an enabling economic environment for development; and stresses the need to broaden and strengthen the participation of developing countries and countries with economies in transition in international economic decision-making and normsetting; Stresses also that development strategies have to be formulated with a 9. view to minimizing the negative social impact of globalization and maximizing its positive impact, while ensuring that all groups of the population, in particular the poorest, benefit from it, and that at the international level, efforts have to converge on the means to achieve the internationally agreed development goals, including those contained in the Millennium Declaration; 10. Underlines the fact that the increasing interdependence of national economies in a globalizing world and the emergence of rule-based regimes for international economic relations have meant that the space for national economic policy, i.e., the scope for domestic policies, especially in the areas of trade, investment and industrial development, is now often framed by international disciplines, commitments and global market considerations, that it is for each Government to evaluate the trade-off between the benefits of accepting international rules and commitments and the constraints posed by the loss of policy space and that it is particularly important for developing countries, bearing in mind development goals and objectives, that all countries take into account the need for appropriate balance between national policy space and international disciplines and commitments; 3