UN General Assembly
1979

152. The current stage of negotiations in the Third United Nations Conference on the Law of the Sea points to the possibility of an early resolution of the outstanding issues. These negotiations are intimately related to the ongoing deliberations on the New International Economic Order and encompass some of the most enduring concerns in the political, economic and juridical relations among States. We confidently expect that the management of the resources of the sea-bed and ocean floor and the juridical regime that we agree to establish will represent for the 1980s a singular and extraordinary demonstration of international cooperation in what has been often described as the last frontier of man. The success of the Conference is therefore of special importance for the future of the world. 153. A review of the 1970s compels us to admit that the early promises of the decade have not been realized. We end in a mood of deep disappointment at our failures and real concern over the dangers for the coming years.