UN General Assembly
1965

99. Since the great depression of the 1930's, the countries which export primary commodities have made no real progress in their efforts to exercise control over their sales of these products, while the industrialized nations have been more successful in limiting the economic swings that affected them. 100. The General Assembly, despite the limitation of its activity, at the nineteenth session, nevertheless approved, in its main decision of the session, resolution 1995 (XIX) on the establishment of the United Nations Conference on Trade and Development. This permanent organ of the General Assembly has recently begun to function. We attach the greatest importance to this new international machinery in the joint effort to promote economic and social development, especially in the developing countries.