UN General Assembly
1974

18. Unfortunately, the solutions urgently demanded of the international community at the sixth special session last April have not been applied, as immediate, practical and workable machinery has not yet been put into operation. The entire effort of the General Assembly at that time and the acknowledged consensus that effective action should be taken have apparently become merely pious utterances on the part of our Organization and its agencies, without that obvious political decision having been translated into reality. I do understand the difficulties inherent in such broad action, but the magnitude and urgency of the task require an unprecedented effort. Similarly, my Government today reiterates its statement that the surplus resources generated by new prices must be channeled to the developing countries most deeply affected by the petroleum crisis, thus avoiding the paradoxical situation where these resources would primarily strengthen the more developed economies. I think that in keeping with the spirit demonstrated at that meeting, it will be possible to agree upon multilateral channels to guide this process without prejudice to direct support through trade and investment.