UN General Assembly
1973

188. This new law should clearly cover economic development. It should set up an international regime for the sea-bed and ocean floor beyond the limits of national jurisdiction that would give adequate expression to the fact that they are the common heritage of mankind. In treaty form it will have to express the natural right of the coastal States to dispose of the resources of their adjacent seas, specifically of the 200-mile zones which have an essentially economic meaning — a theory which is being supported by a large majority of nations today. 189. The statement of the representative of Chile has been lengthy and I must apologize for that. But I felt in duty bound to give a broad outline of the foreign policy of my Government and also to go into some detail regarding the events that took place in my country last month.