UN General Assembly
1975

74. The economies of major capitalist countries are undergoing serious disruptions. These negative phenomena have a particularly profound impact on the economic advancement of the developing countries. It is therefore quite understandable that the developing countries are striving to create new international economic relations based on the principles of equality, non-discrimination, non-interference in internal affairs, independent choice of the direction of their further development and effective sovereignty over their natural resources. 75. The recently concluded seventh special session of the General Assembly on questions of development and international economic co-operation represents a considerable step forward in the introduction of progressive principles into international economic relations. The final resolution of the seventh special session [resolution 3362 (S-VII)] rightly refers to the Declaration and the program of Action or. the Establishment of a New International Economic Order [resolutions 3201 (S-VI) and 3202 (S-Vl)] and to the Charter of Economic Rights and Duties of States [resolution 3281 (XXIX)], which contain the principles of peaceful co-operation and stress the close inter-connexion between the consolidation of international peace and security and social and economic progress.