1. THE ECOSOC SYSTEM
Despite some improvements since the Copenhagen Summit, much greater progress needs to be made in strengthening the structures and processes of the Economic and Social Council. This applies especially to strengthening the composition of ECOSOC, its effectiveness at the regional and sub-regional levels, and its relationships with major economic organisations such as the World Bank, International Monetary Fund, and World Trade Organisation. Changes of this kind should be seen as essential elements of a new international financial architecture.

2. INTERNATIONAL FINANCIAL SYSTEMS
The Copenhagen Summit far-sightedly agreed that action should be taken to reduce the excessive volume and volatility of speculative activity in international financial markets. The subsequent failure to implement this commitment has had devastating consequences on economic and social development, especially in East Asia and Latin America. The Special Session should now identify and promote specific reforms in this area rather than leaving it to the finance ministries and international financial institutions which for so long denied there was a problem and continue even now to understate its extent.

3. GLOBAL ANTI-POVERTY PROJECT
As agreed at Copenhagen, all governments should set specific targets, and adopt strategies, for eradicating absolute poverty and reducing relative poverty. Top priority should be given to achieving specific targets in relation to basic income, health, education, and access to water and food. The Special Session should agree on a few specific and achievable targets in these areas, such as the International Development Targets of the OECD, and should secure specific commitments by developed countries and international financial institutions about ways in which they will help developing countries to achieve these targets.

4. OFFICIAL DEVELOPMENT ASSISTANCE
The Copenhagen Summit made vague commitments in relation to reversing the recent decline in Official Development Assistance (ODA), enhancing debt relief for countries in the greatest hardship, and applying the 20/20 principle. The Special Session should agree on specific initiatives which would achieve substantial progress in the directions outlined at the Summit and would honour the commitment to improve the effectiveness of aid programmes in meeting locally-identified needs.

5. BASIC INCOME SUPPORT
The Copenhagen Summit agreed that basic income support should be provided to individuals and families in periods of special hardship or vulnerability. The Special Session should adopt specific initiatives for strengthening income support systems around the world, including extension wherever possible to people who are self-employed, employed or in the rural or informal sectors. Attention should be given to microcredit and subsidised savings as well as to social security and other conventional income support systems.

6. TAXATION
The Copenhagen Summit agreed on the need for progressive, fair and efficient taxation systems which raise sufficient revenue for national and international purposes. It emphasised the importance of adequate and equitable taxation of assets and of international transactions. The Special Session should identify and promote reforms aimed at achieving these goals at both national and international levels. This should include development of a code of international guidelines for the design and administration of national taxation systems.

7. FAIR TRADE AND INVESTMENT
The Copenhagen Summit agreed on the need for regulation to ensure fair competition and ethical responsibilities in international business activities. It also agreed on the need to assess and enhance the impact of free trade negotiations on developing countries. Little progress has been made in these respects since the Summit. The Special Session should initiate processes for developing a binding code of rights and responsibilities in the conduct of international trade and investment. The code should incorporate appropriate core standards of the International Labour Organisation.

8. ECONOMIC, SOCIAL AND CULTURAL RIGHTS
It was agreed in Copenhagen that greater efforts should be made to secure ratification and observance of the International Covenant on Economic, Social and Cultural Rights. The Special Session should identify and endorse specific initiatives for improving the effectiveness of the Covenant and for improving linkage between the Covenant and the specific standards and targets which were endorsed at the Copenhagen Summit.