UN General Assembly
1970

155. An urgent need therefore arises for rational and equitable management of the area and its resources. An international regime including international machinery for the international zone must be established at an early date if that common heritage is not to be consumed by wasteful exploitation and if we are to avoid abrasive colonial-type conflicts in this area. In the absence of a balanced and comprehensive declaration of principles governing activities in the zone, peace and order are not likely to prevail in the marine environment. My delegation wishes to express its profound regret that the sea-bed Committee was unable to reach agreement at its August session in Geneva on such a declaration of principles. We participated actively in that session, and in spite of the unsatisfactory results we are nonetheless optimistic. We take comfort from the fact that on some important questions there is near agreement. What is heartening is that full agreement has been reached on the principles regarding the peaceful settlement of disputes and the promotion of scientific research.