UN General Assembly
1977

113. The world of today ought to be different from the world of the past, which was ruled by the law of the jungle. Furthermore, there should be increasing understanding of the justified and urgent demands of the developing countries. Under present circumstances, international monopolies have been dividing up the regions of the world and its markets, controlling its raw materials and manipulating its potential from the turn of the century until this day. In addition to this, we must take account of rashness of the major Powers and the industrial countries, which dominate the seas and the oceans, including the gigantic wealth therein. Under such circumstances, the developing countries are deeply concerned and demand the regulation of all means relating to the use of the seas and respect of the right of regional sovereignty represented in the principle of freedom of (lie use of the seas to all countries. My Government supports and endorses anything that may lead to an international agreement to determine the law of the sea-bed and the ocean floor and how they should be exploited for the benefit of the international family through a competent international organization.