UN General Assembly
1972

23. We are all aware that the trends have not been in favor of the developing countries. The decline in their share of world exports, their rising burden of debt and their slow rate of growth are amply documented in United Nations reports, which bear testimony to the sad state of international co-operation in this field. The outcome of the third session of the United Nations Conference on Trade and Development [UNCTADJ held at Santiago, Chile, also provides us with an important case in point. UNCTAD has been useful in providing a forum for the discussion of a wide range of economic problems of interest to the developing countries. It has no doubt helped to define the issues more clearly and, as a consequence, has contributed to a better understanding and appreciation of the problems of the developing countries. However, despite this greater understanding, a more concerted international effort to overcome the difficulties was not in evidence at the Santiago session. It is common knowledge that no significant progress was made on substantive issues and that the achievements fell far short of the aspirations of the Group of 77 developing countries as contained in the Lima Declaration.