UN General Assembly
1974

It is the view of my delegation that the rich industrial and technologically advanced nations, which for so long dominated the world and commanded its resources, aimed at maintaining at Caracas a virtual status quo between the rich and the poor countries, thus serving to perpetuate the domination of the disadvantaged by the rich and powerful. My delegation regrets this attitude, but hopes that when the Conference resumes its work in Geneva next spring the rightful aspirations of the developing countries for a balanced and just regime for the exploitation of the resources of the seas and oceans beyond territorial limits will be matched by the appropriate political will of the rich, technologically advanced and privileged nations. If these hopes are fulfilled, the result would then augur handsomely for peace, justice, and the orderly exploitation of the resources of the global sea and for the equitable sharing of the proceeds for the benefit of all mankind.