UN General Assembly
1957

93. If this unprecedented experiment is to succeed, and the countries which are vacillating or even opposed to the establishment of this fund are to change their minds, we must draw up a statute with great care and take all the time we need to accomplish this revolutionary task. 94. However extensive our financial and technical assistance to under-developed countries, capital investment is not sufficient in itself, but must be supplemented by agreement on trade relations. 95. We must admit, in this connexion, that, following on a period during which the prices of raw materials favoured the producing countries, the events of the past few years do not encourage optimism. Raw materials are an essential source of foreign currency for the under-developed countries, but the stabilization of the prices of such materials by means of an international agreement is still little more than a pious hope. Moreover, fluctuations in the prices of basic products and in the volume of trade have rarely been so great.