Allow me to congratulate you, Sir, on behalf of the Government of Chile and in my personal capacity, on your election as President of the fifty-third session of the General Assembly, which represents a deserved tribute to your political skills and diplomatic career, as well as a recognition of your country?s commitment to the work of the United Nations. It gives us very special pleasure because you are a national of Uruguay, a Latin American country that is especially close to Chile, and with which, in addition, we are cooperating closely in the Rio Group and the Southern Cone Common Market (MERCOSUR). We also congratulate the Secretary-General on the leadership he has demonstrated since he took up his duties. His vision of the necessary reform of this Organization, as well as his dedication to the solution of important international problems, gives us great satisfaction. We encourage him to persevere in pursuit of the goals he has set himself. Globalization, interdependence and regional integration are phenomena that characterize present-day international realities. The experience of many countries, Chile among them, shows that greater participation in the world economy, if appropriately channelled, can constitute a key element in the economic growth and prosperity of countries. Nevertheless, these phenomena, whose logic and dynamics are universal in scope, still offer ambivalent and contradictory lessons and meanings, depending on their magnitude and the effects they are causing in the different parts of the world. It is obvious that this process gives rise to legitimate uncertainties and concern in the context of the financial upheavals that, having started in the Asia/Pacific region, now affect the whole world. The need for more effective and concerted action by the main international economic Powers and the specialized 22 agencies to deal with these situations is becoming increasingly apparent. The need to reshape the global financial architecture is becoming ever more obvious. It seems clear that there is a need for greater coordination regarding the international community?s institutional capabilities to deal with situations like the present one. The world has experienced similar situations before, but they now take place in a context of much greater interdependence. This necessitates an in-depth review of the current structures of the world financial system in order to adapt them to the new challenges of internationalization. Otherwise, we shall always be vulnerable to upheavals like the present ones, and to setbacks in those parts of the world that are affected. Obviously, no agency of the multilateral system, on its own and using only its own methods, is in a position to bring certainty and stability to the current crisis. In the search for solutions, we need to combine different approaches and concerns: financial order, growth of international trade, effective social security networks, promotion of investment and growth, and respect for workers, among others. We have a great opportunity to grasp fully the integrated nature of these problems and define genuinely coordinated policies in order to solve them. This is a task in which the entire international community must participate. The Latin American countries have assumed their responsibilities for building sound economies with increasingly low levels of inflation, progressively decreasing their budget deficits and reducing unemployment and indebtedness. What Chile has done in this respect is recognized, and has been frequently praised in recent years. In little over a decade, Chile has doubled the size of its economy. This year, 1998, will be our twelfth year of uninterrupted growth. For eight years we have been constantly reducing inflation and unemployment, with a financial surplus and high domestic and external savings rates. All of this has taken place in a context of great openness to the outside world and a regional integration process conducted with a view to promoting open regionalism. It has also taken place in the context of an increasing expansion of social investment, whose benefits for the most vulnerable sectors of the population are apparent in the high indicators achieved by Chile in this Organization?s latest Human Development Report. However, despite these significant achievements we have also had to face in recent months problems that we share with many countries in our region, stemming from the global financial crisis and the difficulties created in some of our main export markets. President Frei's Government has adopted stringent adjustment measures in order to reduce public and private expenditure, avoid an upsurge of inflation, and, at the same time, maintain social investment and protect Chileans? jobs. This permits us — as the Heads of State and Government of our region did when they met on 5 September at the Twelfth Rio Group Summit — to call on all to discharge their responsibilities in this respect, as we have discharged our own. Our Presidents are concerned about the possibility that the crisis will become more acute, and accordingly they urge the countries in which it arose to take the necessary measures to correct their imbalances; the countries of the Group of Seven to take action to restore the stability of financial markets and ensure the growth of the world economy; and the international financial institutions to involve themselves more rapidly and effectively in resolving the crisis. There is also a need to prevent a mishandling of the crisis or half-way measures leading to the reproduction or even accentuation of the inequities that characterize the current international system, which not only postpone access to progress and encourage despair, but also pose a serious and constant threat to international peace and security. The emergence of a new worldwide awareness, the enlargement of the international agenda and the need to deal collectively with the problems of interdependence provide an impetus for the adoption of new international regimes. Examples of the progress achieved in cooperative multilateralism include the United Nations Convention on the Law of the Sea, the Antarctic Treaty, international humanitarian law, the Uruguay Round agreements that led to the creation of the World Trade Organization and the set of regimes relating to arms control and disarmament in general. Human rights have ceased to be an issue reserved exclusively for the sovereignty of countries, and have become a universal concern that no Government can ignore. Protection of the environment has an undoubtedly international dimension, in that issues as vital to our future as climate change, pollution and over-exploitation of the seas, depletion of the ozone layer and the advance of desertification all call for global treatment. The promotion and protection of human rights and fundamental freedoms constitute an inescapable 23 responsibility of the United Nations. The fiftieth anniversary of the Universal Declaration of Human Rights and the fifth anniversary of the World Conference on Human Rights, held in Vienna, constitute opportunities to renew our concern for and commitment to the values and principles embodied in the Declaration and the agreements adopted at the Conference. For Chile, the universality of human rights means assuming the intrinsic dignity of all inhabitants of the planet, regardless of their culture, religion, social status, ethnic origin, gender or traditions. Neither lack of development nor cultural characteristics can be invoked to justify limiting the human rights recognized in a Declaration to which we have all subscribed. In this context, the recently approved International Labour Organization Declaration on Fundamental Principles and Rights at Work and its Follow-up is an important step forward in strengthening the basic rights of workers throughout the world. This new international regime must be promoted by the entire multilateral system. A few days ago, I had the great honour of signing in Rome, on behalf of my Government, the Statute of the International Criminal Court. Chile has committed itself to participate actively in the launching of the Court. This institution has been a long-standing aspiration, and many recent events have made it essential. It will contribute to the strengthening of the international human rights regime, the progressive development of international humanitarian law, the prevention of mass violations and the fight against impunity in cases of genocide or crimes against humanity. The subject of disarmament also continues to be one of the most vital issues on the international agenda. Recent events in this field, such as the nuclear tests carried out in South Asia, which my Government deeply deplores, highlight the urgent need to enhance the validity and universal application of instruments such as the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) and the Comprehensive Nuclear-Test-Ban Treaty (CTBT). We must take responsibility for the danger of nuclear proliferation and urge the parties concerned not to repeat such actions, and we must renew our calls on all States to sign and ratify the international instruments designed to eliminate the nuclear threat. Accordingly, we welcome Brazil?s recent accession to the Non-Proliferation Treaty. We must also make efforts to develop and improve our instruments for regulating the manufacture, trade and use of conventional weapons. In this context, we are extremely pleased to know that the Treaty on the elimination of anti-personnel landmines has entered into force with the completion of the first 40 ratifications. Chile hopes to complete its process of legislative approval shortly in order to be able to ratify this important instrument. For these same reasons, we adopted this morning, together with other countries, a declaration supporting the ad hoc group in its work to strengthen the verification and monitoring mechanisms of the Biological Weapons Convention. Chile strongly favours the process of establishing new international regimes, whether regional or global, to confront these and other challenges. The United Nations plays a vital role in this field. The campaign against drug-trafficking and other forms of organized crime can be truly effective only when it takes place in a context of strong and genuine regional and worldwide cooperation. Chile supports the implementation of the decisions adopted at the twentieth special session of the General Assembly, on the world drug problem, decisions which can serve as a basis for a common regulatory system and effective multilateral cooperation. The fight against international terrorism, which has perpetrated such reprehensible acts this year, also requires a much more effective international cooperation. Such dramatic issues as the treatment of refugees and combating hunger fall fully within the scope of multilateral activity. My country attaches great importance to this function of our Organization. We believe that it must continue to be expanded and intensified in the years to come. Of course, Chile is fully prepared to continue participating in this task. In the context of our participation in the United Nations, I wish to express my gratitude to the Member States, as well as to the employers? and workers? groups of the International Labour Organization (ILO), for the singular confidence placed in Chile and its Ambassador to the United Nations, Mr. Juan Somav'a, by electing him Director-General of the ILO, beginning in March 1999. My Government wishes to express its profound satisfaction at having been a part of the Security Council during the biennium 1996-1997. In the exercise of the responsibility entrusted to us by the international community, my Government sought in every action it took to contribute to the maintenance of international peace and security and to fully assume the humanitarian 24 responsibility placed upon the Security Council in its activities. We have always believed that this responsibility should be manifested in the protection of the humanitarian workers in conflict zones, in the ongoing presence of the United Nations and its specialized agencies subsequent to the ending of hostilities so as to build peace effectively and in the focused application of sanctions that are adopted so that they will not affect innocent civilians. Chile is convinced that the United Nations peacekeeping forces can be identified as the Organization?s most effective mechanism for preventing and resolving international conflicts. We are aware that peacekeeping operations designed to take action in crises and conflicts between States have been faced with major challenges during the present decade. Nevertheless, for all the well- known limitations, the experience built up over the past three years can be regarded as promising for the future. Many more human lives could be saved through United Nations peacekeeping operations, were we able to strengthen them effectively. My Government wishes to express its firm resolve to continue cooperating, actively and frequently, in the activities of this important instrument of the Organization. Three years ago, when we celebrated the fiftieth anniversary of the United Nations, Member States assumed a commitment to unite our efforts to reform and democratize the structures of the Organization, with a view to the new and complex challenges we shall have to face in an increasingly changing international scene. This session of the General Assembly has the task of taking up important pending aspects of that reform. The adoption of resolution 52/12 constitutes an important first step down the long road to reform. We are also encouraged by the changes that are being introduced in the Economic and Social Council. The introduction of new methods and programmes and the incorporation into its agenda of a segment on humanitarian affairs will contribute to its renewal. The summits and conferences on economic and social issues that have been held within the framework of the United Nations during the 1990s have reaffirmed our Organization?s priority commitment to development. Likewise, those events have provided conceptual tools and ideas that are of great value for drawing up public policies for achieving economically, socially and environmentally sustainable development. The eradication of poverty must continue to be a central objective. The same is true of the promotion of human rights, gender equality and protection of the environment. It is essential that the General Assembly conduct periodic reviews of the commitments made on these issues at the summit meetings and conferences, as is to happen in the case of the International Conference on Population and Development, which is to be reviewed next June, and the Fourth World Conference on Women, the review of which will take place in the year 2000. We also attach special importance to the special session of the General Assembly to be convened in the year 2000 for the purpose of reviewing compliance with the commitments of the Social Summit. Chile has had the honour of presiding over the preparatory committee for that special session. It is our hope that that meeting will be able to conclude with the adoption of new initiatives at the national and international level that will allow further progress to be made in the process of implementing the agreements reached at the Summit. The process of reforming and democratizing the Security Council is one of the most important of the many objectives we have set ourselves in the context of the process of renewing the United Nations. The Council must reflect the new international realities. It needs to be enlarged to remedy, among other things, the unjustified under-representation of the developing countries in that body. Nevertheless, the arduous process of reform in which we are engaged calls for broad-based majority support. It will be possible only with solid and substantive consensus. Frankly, we would prefer to sacrifice some of the urgency of such reforms rather than participate in a decision-making process which, lacking the support of the vast majority of members, could give rise to serious divisions between us. Furthermore, my Government believes that enlargement of the Council, important though it may be from the standpoint of enhancing its representativeness and legitimacy, is not of itself sufficient to endow the Council with the qualities required by its role as the guarantor of international peace and security. At the same time, measures must be adopted with regard to its working methods, particularly in relation to transparency, with which every one of its actions should be imbued and which should not be challenged. 25 We must stress the negative impact of the veto mechanism, which should be regulated and progressively reduced with a view to its gradual elimination in the long term. A first step in this direction might be to amend the Charter so that the right of veto can be applied only to actions taken by the Council under Chapter VII. I should like to conclude by expressing our optimism with regard to the future of the Organization. I hope that the Millennium Assembly, to which we have lent our full support, will be the expression of a renewed and much stronger United Nations as we enter the new century.