229. The international community is entering a new and challenging phase in invigorating the institutions in support of international cooperation for development. Globalization, liberalization and interdependence have become key features of the world economy. In addition, economic growth and progress in a growing interdependent world are influenced by the process of globalization. Particular attention should be accorded to national and international action to broaden the benefits of the process of globalization and to avoid the risk of marginalization of developing countries, in particular the least developed countries, in the world economy. For developing countries, the most important challenge is the realization of development, which, among others, calls for economic growth and favourable external conditions. International cooperation for development is more than ever acknowledged as a necessity that derives from recognized mutual interest. Therefore, it is necessary that such cooperation be strengthened. In this effort the United Nations occupies a central position and key role.

230. The United Nations system has a crucial role to play in international cooperation for revitalizing development. In this regard, the United Nations has convened a number of global conferences on major issues. From these conferences, a consensus has emerged on a multidimensional, comprehensive and integrated approach to development which recognizes, among others, that economic development, social development and environmental protection are interdependent and mutually reinforcing components of sustainable development. Fulfilling the goals and commitments reached at major international conferences, particularly on international cooperation for development, is essential if development is to materialize to its fullest extent and in all its facets. There is, therefore, a need to revitalize the system of international cooperation for development which plays an important role in realizing these goals and commitments.

231. Among the many actors in international development, the United Nations, because of its unique universal character and impartiality and because of its physical presence in many parts of the world, plays a central role in promoting international development cooperation. Through this Agenda, recommendations are made for a stronger, more effective and efficient United Nations so that it and the United Nations system as a whole can contribute better to development in all countries, in particular the developing countries, through the strengthening of its role in all relevant fields of international development cooperation. Institutional issues must, therefore, be addressed while safeguarding the transparent, democratic and truly universal character of the Organization and taking into account the overall ongoing processes of reform of the United Nations.