General Assembly discusses world economic situation

Egypt said that integration into the global economy was not in itself the magical formula for the developing countries to attain development goals.

Addressing an annual UN General Assembly meeting on the world economy scene, Egypt Chief Delegate Ahmed Abul Gheit added that development was the short cut to the achievement of prosperity for the whole world and preservation of international security and peace.

He underscored the importance of "democratization" of decision-making at different world agencies to set into motion priorities on the global agenda.

Abul Gheit drew the attention of his audience that it would be evident shortly that the UN's issuance of economic resolutions which remained mere ink on paper would be neither useful or acceptable.