UN General Assembly
1972

199. We earnestly hope that the United Nations will be able to bring together the industrialized and the developing countries into a network of economic, trade, technical, social and cultural co-operation. In so doing it would widely contribute to the transformation of the human condition in a very inequitable world. 200. One of these inequities, as we know, lies in the daily deterioration of the terms of trade which deprives the developing countries of the necessary resources for their arduous struggle for economic progress and helps to widen the gap that separates the needy from the wealthy countries. 201. The state of international co-operation between the industrialized countries and the third-world nations is far from satisfactory. Today it is undeniable that the third session of UNCTAD held at Santiago did not offer new prospects in trade, nor was any real progress achieved in the desired implementation of generalized preferences. We are still waiting for a spectacular upswing in the curve of transfer of capital, which, unfortunately, has not changed.