UN General Assembly
1979

168. After long and arduous negotiations spanning several years, we have witnessed the creation of a Common Fund, which is the key instrument of the Integrated Programme for Commodities. The wars of attrition have taken their toll on this Fund and have reduced it to its mere price-stabilization functions, with the real problem of funds for industrialization still being left to voluntary efforts, 169. We have witnessed also the failure of the multilateral trade negotiations to respond to the major trade interests of the developing countries. Far from according special and differential treatment to developing countries, our developed trading partners have required us to grant concessions that were in some instances far in excess of the concessions they received. 170. Trade has not been the only area of discontent for developing countries during this current decade. Industrialization and related issues have been the cause of great concern to many developing countries, the experience of my country in this regard being a notable example.