UN General Assembly
1978

155. With success within the grasp of the international community acting in concert it would be deplorable if economic interests in one or more industrially-advanced nations were to be given unilateral legal sanction to embark on exploitation activity before a convention was negotiated. This element of power-play would deal a psychological blow to the delicate negotiating process. My country has expended much energy on this initiative, and as a token of our faith in eventual success the Government of Malta continues to keep available valuable land and building sites for the proposed international sea-bed authority, which we hope will be established, with its headquarters in Malta in recognition of our historic and timely initiative.