The Assembly, referring to its Recommendation 1423 (1999) on economic reconstruction and renewal in Southeastern Europe following the Kosovo conflict, considers such reconstruction and renewal vital not only for economic development but also for lasting peace and stability in the region and in Europe as a whole. Considering the urgency, complexity and long-term character of this international effort and the resulting need for parliamentary Europe closely to monitor the progress made and the difficulties encountered, the Assembly instructs its Committee on Economic Affairs and Development, where necessary assisted by other Assembly committees, to report on the subject at regular intervals.