UN General Assembly
1994

preparatory process, commencing officially in Reykjavik in March next year. The responsible use of fisheries resources is, however, no less important than combatting the threat of marine pollution. The universal acceptance of the sovereignty of the coastal State over its adjacent waters was a necessary precondition of the effective management by the world community of the living resources of the sea. The application of the United Nations Convention on the Law of the Sea, which extended the rule of law to over two thirds of the Earth’s surface, has contributed more than any single undertaking to the furtherance of that goal. Against this background, Iceland particularly welcomes the fact that this Convention, a crowning achievement in the progressive development of international law under the auspices of the United Nations, will come into force in only a few weeks’ time. My country remains strongly committed to the establishment of an international regime governing all aspects of the utilization of living marine resources, including the high seas. For this reason, Iceland has actively supported the drafting of a legally binding and