UN General Assembly
1975

28. I want now to refer briefly to the Third United Nations Conference on the Law of the Sea. As we all know, the basic objective of the Conference is to negotiate a comprehensive treaty establishing a new world order in the oceans. From the work of the two substantive sessions held in Caracas, Venezuela, in 1974 and in Geneva early this year, it is clear that efforts must continue to be made towards evolving an equitable system for the exploitation and utilization of the immense resources of the oceans. The system must take into account the divergences of the inter-national community as between maritime and non- maritime States, coastal and land-locked States, developed and developing States, and large and small States.