A/HRC/42/38 77. States should promote the establishment of a multilateral financial monitoring mechanism. 78. States should promote the establishment of an international debt workout mechanism. 79. Developing countries should be better integrated into the global trading system. States should promote greater intraregional trade while ensuring that regional trade agreements are assessed for their human rights and environmental impacts. 80. States should increase their international cooperation in tax matters, for example by exchanging information about tax payments, publicizing tax rates and revenues generated by major economic actors and ensuring that financial intermediaries do not accept illicit assets.6 81. Governments should develop a global and a regional taxation architecture with a view to countering the race to the bottom fuelled by tax policies that are increasingly in favour of capital to the detriment of people’s welfare. 82. States should cooperate to mobilize additional resources – including knowledge sharing, technical cooperation, capacity-building and technology transfers – in order to provide the means and facilities to foster comprehensive development. 83. States should counter adverse trends, such as the imposition of unilateral coercive measures, that negatively affect multilateral cooperation and create obstacles to development. 84. States should collectively disarm and redirect the resources resulting from such disarmament to economic and social development. 85. States should share promising practices in implementing participatory budgeting and its positive impacts on growth and development. 86. States should share good practices through South-South and triangular cooperation, informing the general population of the outcome of such exchanges. Given the diversity of, and the unequal relationships between, countries in the South, a rights-based approach to such cooperation is required (see A/73/271). States should also promote cooperation with non-State actors. 87. North-South cooperation should be strengthened. United Nations entities and mechanisms 88. Special procedure mandate holders and other international human rights experts should engage with the United Nations Conference on Trade and Development on macroeconomic conditions that impede the realization of the right to development. 89. Regional economic commissions should measure the productivity of assets in order to advise States so that they may ensure that bilateral agreements attract genuine investment. Non-State actors 90. The private sector should promote the right to development by redirecting capital towards redistribution schemes. 91. Development banks and investors should not impose conditionalities on States that would require them to take actions, such as adjusting the tax infrastructure and imposing austerity measures, that would be detrimental to their own development. 6 The Independent Expert on the effects of foreign debt and other related international financial obligations of States on the full enjoyment of all human rights, particularly economic, social and cultural rights, has made extensive recommendations in that regard in a study examining the impact of tax-related illicit financial flows on human rights and the achievement of the Sustainable Development Goals (A/HRC/31/61). 11