UN General Assembly
1975

202. The seventh special session has made a serious attempt to identify problems in detail, to locate some available resources, to pursue further studies of important questions and above all to engage in negotiations with a view to exploring whether a meeting of minds is possible. The achievements of that session should neither be overestimated nor underestimated. Developing countries cannot look upon the final document of the seventh special session [resolution 3362 (S-VII)] with unmixed satisfaction. However, it is an opening, and if the decisions are implemented in good faith and speedily, further fruitful dialog can be continued on the outstanding issues so that the world economic imbalance can be redressed and the terms of trade for developing countries can be really improved. The status quo should change in the direction of a new and equitable economic order, and proof of this has surely to come from the concrete actions of the developed countries.