UN General Assembly
1978

98. It was therefore with a particular sense of disappointment and genuine concern that we noted the failure of the resumed session of the Committee Established under General Assembly Resolution 32/174, also known as the Committee of the Whole, to agree on the mandate and the functions of the Committee, which has precluded its finalizing its work in the area of the transfer of resources. My delegation would like to reaffirm the importance it attaches to the involvement of the United Nations system in the negotiations on economic issues of a global nature and the need for providing them with a central body which would serve as a negotiating body for the adoption of guidelines on central policy issues and the achievement of agreement on the resolution of fundamental and crucial issues related to international economic relations. It is our earnest hope that the General Assembly will be in a position to confirm in an unambiguous manner the right of the Committee to negotiate with a view to reaching agreements without in any way pre-empting the functions of other United Nations bodies. The supremacy of the United Nations system in regard to all negotiations relating to the establishment of the New International Economic Order should also be affirmed.