AGENDA ITEM 52 (a): MACROECONOMIC POLICY QUESTIONS:
INTERNATIONAL TRADE AND DEVELOPMENT
EOV ON “UNILATERAL ECONOMIC MEASURES AS A MEANS OF POLITICAL AND ECONOMIC COERCION AGAINST DEVELOPING COUNTRIES”
ISABEL BOTELHO LEAL
PERMANENT MISSION OF PORTUGAL TO THE UN
ON BEHALF OF THE EU
I have the honour of delivering this explanation of vote on behalf of the European Union. The Candidate Countries Turkey, Croatia* and the former Yugoslav Republic of Macedonia*, the Countries of the Stabilisation and Association Process and potential candidates Albania, Bosnia and Herzegovina, Montenegro, Serbia, and the EFTA countries Iceland, Lichtenstein and Norway, members of the European Economic Area, as well as Ukraine and the Republic of Moldova align themselves with this explanation of vote.
The European Union abstained on the adoption of the resolution A/C.2/62/L.8 entitled “Unilateral Economic Measures as a Means of Political and Economic Coercion against Developing Countries”.
The European Union is of the view that unilateral economic measures should respect the principles of international law, including the international contractual obligations of the State applying them and the rules of the World Trade Organization where applicable.
The European Union considers that such unilateral economic measures are admissible in certain circumstances in particular when necessary in order to fight terrorism and the proliferation of weapons of mass destruction, or to uphold respect for human rights, democracy, the rule of law and good governance.
The European Union is committed to using sanctions as part of an integrated, comprehensive policy approach which should include political dialogue, incentives, conditionality and could even involve, as a last resort, the use of coercive measures in accordance with the United Nations Charter.
Thank you Madame Chairperson.
* Croatia and the former Yugoslav Republic of Macedonia continue to be part of the Stabilisation and Association Process.