At the outset, we wish to express our heartfelt condolences and solidarity to the peoples of the Caribbean because of the suffering being experienced today in places such as Saint Kitts and Nevis, Antigua and Barbuda, St. Maarten, Puerto Rico and the Dominican Republic due to Hurricane Georges, which has hit the region. The delegation I am honoured to represent joins in the congratulations extended to Mr. Opertti on his election as President of the General Assembly at its fifty-third session. This constitutes a recognition not only of his outstanding ability and merits, but also of the brotherly country of Uruguay, whose well-known international calling makes it an outstanding Member and representative of Latin America in this important international body. We are also grateful to his illustrious predecessor, Mr. Hennadiy Udovenko, for his efforts to contribute to the Organizationâs modernization. At the end of June, during the absence of the President of the General Assembly, Panama, as Vice- President, occupied the presidency of the General Assembly and had the honour of cooperating in the adoption of important measures on science, technology and computers. Our gratitude goes also to the seventh Secretary- General, Mr. Kofi Annan, who, with the long experience he has gained over more than 30 years devoted to the Organization, is promoting reforms that will be of great benefit to the United Nations. 18 On Security Council reform, we endorse the recommendation of the Open-ended Working Group on the Question of Equitable Representation on and Increase in the Membership of the Security Council and Other Matters Related to the Security Council that consideration of this item should continue during the fifty-third session of the General Assembly on the basis of the work carried out in previous sessions. Panama recalls with gratitude that the holding of a Security Council meeting in Panama a quarter of a century ago and the support of the international community were extremely valuable to the Panamanian people in the fulfilment of its aspirations regarding the Canal. Panama attaches great importance to discussions relating to economic issues, particularly those addressing sustainable economic development in order to eradicate poverty. We feel that by improving our education, our countries will better be able to focus on processes of reform, which must be undertaken gradually. With regard to the globalization of the economy, the Republic of Panama congratulates the Secretary-General for having held on the 17 and 18 September a high-level dialogue on the social and economic impact of globalization and the interdependence of its political consequences. Panama feels that the matters before the Fifth Committee relating to the process of adopting the budget are of great importance to the Organization, and we hope that Member States will faithfully comply with its suggestions. My delegation believes that we should give full support to measures that will persuade Member States to pay on time and in full their obligations to the United Nations. In our judgment, the most important tasks to be accomplished in order to neutralize the present economic crisis are the restoration of trust in the markets; the stabilization of the financial markets; the support of growth; allocation of the necessary means to the international financial institutions; and the immediate protection of the most vulnerable. The financial markets and their problems are of global scope, yet the governmental efforts to resolve those problems have a strictly local range. This disparity is at the root of many problems we are now facing. Economic globalization makes it necessary to strengthen the links of the United Nations with the World Bank, the World Trade Organization (WTO), the International Monetary Fund (IMF), the United Nations Development Programme (UNDP), the United Nations Childrenâs Fund (UNICEF) and the Inter-American Development Bank (IADB). The need to create an even playing field in the international system for economic cooperation is urgent and justifies the major efforts ongoing within the United Nations to restructure what has been called the “architecture” of the system. We support the Secretary-Generalâs repeated calls for more vigorous action towards some way of alleviating the enormous debts that are suffocating many countries and that they simply cannot carry. It seems to us that economic, social and environmental policy dimensions must be integrated in such a way that none of them is sacrificed for the sake of the others. We were deeply impressed by the wise counsel on poverty given to us yesterday by President Mandela. We urge the Secretary-General and the community of the United Nations to continue our efforts to ensure that the obvious benefits of globalization and its resultant interdependence do not serve to make the rich richer and the poor poorer. This could be done by establishing mechanisms that redirect part of the wealth generated to the praiseworthy goals of creating more hospitals, more modern schools and a higher standard of living for all people. Panama has contributed to the cause of sustainable economic development by complying with Agenda 21 and the mandates of the United Nations Conference on Environment and Development. The concrete result of this was the adoption of Law 41 of July 1998, an overall environmental law for the Republic of Panama, which establishes the basic principles and regulations for protecting, preserving and restoring the environment. Another result is the preparation of an environmental strategy for the country within the framework of a process in which the whole of Panamanian society is participating; actions are concerted, and each sector is committed to holding up its end. We must have a clear vision of the future where anything related to the environment is concerned, and we 19 are sure that the Secretary-General will also make this clear in his plans for the future. Panama has followed with great interest the events relating to peace in the Middle East and the problems of the war-torn former Yugoslavia. We support the comprehensive policy that must be pursued in Africa in order to move beyond the causes of conflict and promote lasting peace and sustainable development in the region. Similarly, we have followed with great interest the Secretary-Generalâs efforts to advance the negotiations towards just and lasting peace in Cyprus so that the unification process can quickly be consolidated. We see serious dangers in the situation in Afghanistan. At the Conference in Rome, my country agreed with all that was said in favour of the establishment of an International Criminal Court, and we are prepared, along with other Member States in the General Assembly, to make every effort necessary so that this court can bring to justice those who have committed serious crimes that are of concern to the international community. As we celebrate the fiftieth anniversary of the Universal Declaration of Human Rights, we recall with respect and admiration the work carried out by the great Panamanian internationalist Mr. Ricardo J. Alfaro, who was instrumental in the drafting of this document that is so important to humanity. We will always be attentive to the need for United Nations programmes and policies to express the concern we feel over the violations of human rights that still occur in certain places. With the establishment of its Ministry for Youth, Women, Children and the Family, the Republic of Panama has taken a very active part in protecting the rights of children in the workplace and is vigorously combating all aspects of prostitution and child pornography. We therefore applaud the work being carried out by the Committee on the Elimination of Discrimination against Women, and we note with great satisfaction the effective work being done in this area by the Office of the First Lady of Panama. We noted with concern the nuclear tests conducted by India and Pakistan, and condemned them at the time, since they run counter to the principles of non-proliferation of nuclear weapons. At the same time, we would like to see implemented all the agreements included in the chemical and biological weapons conventions. Panama continues to take an interest in the ban on anti-personnel landmines, and we are ever vigilant to ensure that our territory is free of these extremely dangerous mines. The recent acts of terrorism in Africa and Europe are serious and unjustifiable crimes. They show clearly the need to further strengthen the legal and political framework to combat this scourge. We share the concerns expressed here yesterday regarding the dangers of terrorism. As we stated at the recent Summit of Heads of State and Government of the Rio Group, which was held in our country, we reaffirm the importance of strengthening cooperation to combat terrorism at both the bilateral and multilateral levels, with full respect for the sovereignty and jurisdiction of each State. Internationally, we reiterate our commitment to and support for efforts by the international community to combat terrorism, since terrorist activities, whatever their purpose and motivation, are, in addition to being a violation of human rights, immoral criminal acts, extreme acts of fanaticism that attack freedom, human life and the development of peoples. Regarding drug-trafficking, we are convinced that the most effective way to make progress in combating drugs would be to see it as a multilateral problem, always bearing in mind respect for the sovereignty and territorial integrity of each country. Panama therefore firmly supports the tasks and commitments established at the twentieth special session of the General Assembly, which was devoted to the common struggle against the world drug problem, as well as the principles and responsibilities established by the Organization of American States in this matter. From 4 to 6 September, just a few days ago, a meeting of the heads of State and Government of the Rio Group was held in Panama, this yearâs Secretariat of the Rio Group, a consultative body for political harmony comprising 14 Latin American countries. The Latin American community is increasingly convinced that with solid cooperation resulting from political consensus of the Rio Group member States we can make greater strides at both the national and international levels. Through the annual meetings of the heads of State and Government and the Foreign Ministers of the region we have established common objectives and 20 commitments, which cover strengthening our democracies, questions of international peace and security, drug- trafficking, terrorism, human rights, combating poverty, sustainable development and international trade, as well as new issues, such as the year 2000 computer problem and the international financial crisis. At the Rio Group meeting held in Quito in 1995, the Republic of Panama offered its territory as the headquarters for a forum where countries of the region could join in considering policies and measures aimed to eradicate trafficking in narcotics and other illicit substances, as well as in coordinating anti-drug measures and training programmes, which effectively support our efforts to combat drug-trafficking in the region. The Universal Congress on the Panama Canal, meeting in our capital from 7 to 10 September 1997, clearly showed the need for contact with the international maritime community, the users and clients of the Canal, and considered creating an advisory board of the Canal Authority, in order to make use of the experience and wisdom of men and women throughout the world. We reiterate our pledge that the Panama Canal will always be a public service, international in character and efficient and safe, without any form of discrimination. We are ready to assume full management of the Panama Canal on 31 December 1999, thus consolidating our territory under a single flag. This is an appropriate occasion to reaffirm to the international community that after 31 December 1999 Panama will never again renounce control of the Canal, which is in our territory; it will be a symbol of the aspirations of many generations of Panamanians who have wanted this Canal to be an integral part of our territory in a free, independent and sovereign nation. In conclusion, I believe it is fitting to recall here the following words of the President of Panama, Dr. Ernesto Pérez Balladares, to our Legislative Assembly on 1 September: “I wish to reiterate once again my commitment to democracy and my commitment to prepare for the transfer of the Canal without exclusions and without political sectarianism. The elections on 2 May 1999 will determine who will lead the country into the twenty-first century and who will close once and for all this historic era for our territory. For my part, I am certain that on 1 September 1999 there will be a President and a Legislative Assembly elected through transparent and democratic elections; that our nation is now prepared to assume full control of the Canal and its adjacent areas; and that, above all, the country will be reconciled, in peace and prepared to enter the next millennium without the presence of foreign military bases and with a modern, prosperous economy.”