International economic cooperation

Australia takes a close interest in a number of important economic issues debated in the United Nations. Developing countries are naturally very concerned to overcome the impact on their economies of such problems as the high level of debt, persistent high interest rates, persistent unacceptable levels of unemployment, depressed and unstable commodity prices, fluctuating exchange rates, inflation and continuing population pressures. In the face of such problems, economic interdependence is a fact of international life. Countries including Australia need to pursue their economic interests, particularly in trade and finance matters, within a multilateral setting. All countries, developed and developing, have therefore a serious interest in trying to make the multilateral system work more effectively in the economic area.