I take this opportunity to congratulate Mr. Theo-Ben Gurirab on his election to the presidency of this session of the General Assembly. I am confident that his vision and energy will guide this session to a successful conclusion. I also thank Mr. Didier Opertti, who led the fifty-third session of the General Assembly with remarkable distinction and efficiency. I commend Mr. Kofi Annan, the esteemed Secretary-General of this Organization, of whom the people of the Caribbean are particularly proud for his vision and managerial skills as he heads the United Nations, in precarious financial circumstances, responding to increased demands with diminishing resources. I wish to assure the Secretary-General of the continued support and cooperation of the Government of Saint Vincent and the Grenadines. I join previous speakers in welcoming the Republic of Kiribati, the Republic of Nauru and the Kingdom of Tonga as new Members of the United Nations family. Their membership strengthens the universal character of our Organization. I extend condolences to the families of the victims of the earthquakes in Turkey, Greece and, more recently, the Republic of China on Taiwan. I reiterate the sentiments of sympathy already transmitted to the Government and people of the Bahamas, a sister country in the Caribbean Community, and to the United States of America in relation to the devastation wrought by Hurricane Floyd. The fifty-fourth anniversary of the founding of the United Nations, coming at the end of a century that has seen war and destruction on the one hand and unprecedented developments in science and technology on the other, provides a timely opportunity to reflect on the Organization's achievements, assess its continued relevance in a radically changed environment and chart an appropriate course of action for the future. Many powerful forces believe that the United Nations has perhaps outlived its usefulness and exists now only as the world's most expensive debating club. Ministers of Finance are presently convened in Washington, D.C., at the annual meeting of the International Monetary Fund and the World Bank Group. There, too, the opinion can no doubt be heard that circumstances have now overtaken the Bretton Woods institutions. The big and powerful nations of the world can afford to argue thus, but for small, vulnerable, developing countries such as Saint Vincent and the Grenadines, these institutions are important buffers in the interplay between finance and politics in the international arena. The operating budgets of many transnational corporations are far greater than the national budgets of developing countries such as mine, and we are painfully aware that the international development agenda is controlled by these corporations. Despite the technological advances of the last decade and the tremendous increase in worldwide commerce, the benefits of globalization have not been evenly distributed and it is abundantly clear that developing countries continue to be marginalized. While we acknowledge and 25 respect the general thrust towards open markets, competition and free trade, I must reiterate my country's position regarding our vital trade in bananas. Even as we move to diversify, improve quality and pursue alternative strategies and options for development in tourism, financial services and informatics, our economic survival and social stability remain closely linked to the banana trade and the income it provides for our farmers. Indeed, there is a strong and persistent correlation between the rate of economic growth and the performance of the industry. This is further illustrated by the following facts: in Saint Vincent and the Grenadines, the contribution of the banana industry to direct employment is 40 per cent; in the Windward Islands as a whole, banana export earnings account for over 50 per cent of the gross domestic product; and windward Islands exports account for only 1 per cent of the world trade in bananas. The imminent collapse of our major banana market demonstrates just how powerless small developing States continue to be against powerful countries and mega- corporations. The disregard for our interests and, indeed, our survival, by the United States of America, which does not export a single hand of bananas, is truly inexplicable. The inevitable consequences of this stance will be economic and social dislocation, manifested in increased unemployment, impoverishment for our farmers, crime and the erosion of basic human rights and dignity. The iniquitous and restrictive immigration policies of certain developed countries have served only to exacerbate the social disintegration of our societies, which are already under severe stress. If small developing economies are to be able to attract investment, expand production, improve product quality and meet standards — in short, compete effectively and grasp the opportunities presented in the World Trade Organization agreements — it is imperative that recognition should be given to their need for support and for adequate transitional periods to fully liberalized world trade, which should apply also to the banana trade. As a corollary to our overall economic development strategy, the Government of Saint Vincent and the Grenadines continues to explore, with the assistance of friendly nations, options for enhanced airport development on mainland Saint Vincent. The requirements for agricultural and economic diversification make this endeavour even more urgent. We are exceptionally grateful to the European Union for the support which it is continuing to give to ensure our survival, even in the face of threats to its own economic prosperity. Saint Vincent and the Grenadines is involved, with other members of the Caribbean Community (CARICOM), in a fundamental process of deepening regional integration through the establishment of a single market and economy by 2001. We are taking important steps to facilitate the free movement of goods, services, capital and people in the countries of the Community. We are doing this at a time when the momentum of trade liberalization and economic globalization has never been greater. The region is also committed to the establishment of the Free Trade Area of the Americas by 2004. CARICOM has established regional negotiating machinery to coordinate the region's participation in external trade negotiations, including the Seattle Round of multinational trade negotiations. Saint Vincent and the Grenadines is resolute in its opposition to the international trade in drugs. To this end, my Government is moving bilaterally and with member countries of the Organization of Eastern Caribbean States and CARICOM, to establish agreements with third countries on mutual assistance in criminal matters. The Government of Saint Vincent and the Grenadines, recognizing its own limitations in confronting the enormous power and resources of drug traffickers, has signed a “ship rider” agreement that gives authority to pursue such criminals in the territorial waters of our archipelagic State. Governments in the small developing countries of the Caribbean pay a high political price for cooperating with the developed countries in the fight against drugs. There were loud protests from certain sections of the population against the Government when the security forces of Saint Vincent and the Grenadines, in collaboration with the Regional Security Service and contingents from other friendly countries, launched an eradication campaign in our mountainous interior: they questioned the Government's cooperation at a time when access for bananas and other products from the Caribbean to the European market was being challenged. My Government will continue to honour its commitments under all international agreements to which we are signatory. We have enacted appropriate stringent measures in our financial regulations to ensure that proceeds from the illicit drug trade are not laundered in 26 our financial system. The efforts of economically vulnerable countries such as ours in combatting the scourge of drugs must be recognized and supported by the international community in general, and by traditionally friendly countries in particular. Our countries do not wish to be forced out of the world trade in legitimate products, causing our peoples to turn in desperation to trafficking in illegal products. In Saint Vincent and the Grenadines and in other countries members of the Caribbean Community (CARICOM), we believe in stability based on a solid foundation of democracy, respect for human rights and the creation of economic and other opportunities for the development of our peoples. CARICOM has built an outstanding record in this regard. The recent mission to Haiti headed by our own Prime Minister, The Right Honourable Sir James Mitchell, to examine that country's readiness to conduct general elections, is another example of CARICOM's commitment to those principles. Saint Vincent and the Grenadines places very high priority on education, training and human-resource development. These are a very important part of the declaration of principles adopted by the leaders of the 34 countries of the western hemisphere at the second Summit of the Americas, held at Santiago, Chile, in 1998. I take this opportunity to reiterate the gratitude of the Government and the people of Saint Vincent and the Grenadines to the Government and the people of Cuba, which despite their difficult economic circumstances, caused by the continuing trade embargo against that Caribbean country, have offered numerous scholarships to the young people of Saint Vincent and the Grenadines. Saint Vincent and the Grenadines places great value on this unmistakable act of friendship and assistance. Small island developing States such as Saint Vincent and the Grenadines attach great importance to such issues as the integrity of our coastal and marine resources, solid- waste management and natural-disaster preparedness, because we are conscious of the negative repercussions that can result if effective measures are not put in place. We run the risk of damaging our fragile ecosystems to the detriment of development and tourism, and moreover compromising their sustainable use and enjoyment by future generations. It is for that reason that CARICOM condemns in the strongest terms the shipment of hazardous material through the territorial waters of the Caribbean countries. Without the benefit of scientific proof of the origins and reasons for the recent fish kill in our waters, there is cause for serious concern; investigation in this regard is ongoing. Saint Vincent and the Grenadines shares the concerns expressed by other small island developing States and strongly supports the adoption of a draft resolution on small island developing States recognizing the Caribbean Sea as a special area in the context of sustainable development. The vulnerability of small States has been made more acute because of lack of capacity, declining aid flows, graduation from concessionary financing, the disappearance of trade preferences, and a lack of competitiveness. The implementation of the Barbados Programme of Action for the Sustainable Development of Small Island Developing States is therefore imperative for our survival. My delegation fully supports the efforts of the international community in addressing the conflicts in Kosovo and in East Timor. We look forward to lasting peace and stability in those areas. Saint Vincent and the Grenadines also applauds the efforts and commitment of Prime Minister Barak of Israel and Chairman Arafat of the Palestine Liberation Organization to bring peace and security to the people of their region. A draft resolution on the readmission to this body of the Republic of China on Taiwan was once again defeated. Saint Vincent and the Grenadines, however, strongly supports the aspiration of those 21 million people to exercise their right to share and participate in the activities of this community of nations. My country has consistently expressed its views in relation to reform of the United Nations in general and of the Security Council in particular. I will not revisit them now, but I wish to reiterate that Saint Vincent and the Grenadines strongly favours reform of the United Nations to give more equitable consideration to the concerns of the majority of countries comprising the General Assembly. Let us remodel it along more democratic lines to address the realities of the world today. As we approach the new millennium, my delegation would like to urge all Member States to demonstrate their unwavering support for the goals and ideals enshrined in the Charter of the United Nations: peace, security, human rights, fundamental freedoms, international cooperation, and development for all mankind. 27