CHARTER OF ECONOMIC RIGHTS AND DUTIES OF STATES

The General Assembly, Recalling that the United Nations Conference on Trade and Development, in its Resolution 45 (III) of 18 May 1972, stressed the urgency to establish generally accepted norms to govern international economic relations systematically and recognised that it is not feasible to establish a just order and a stable world as long as a Charter to protect the rights of all countries, and in particular the developing states, is not formulated, Recalling further that in the same resolution it was decided to establish a Working Group of governmental representatives to draw up a draft Charter of Economic Rights and Duties of States, which the General Assembly, in its Resolution 3037 (XXVII) of 19 December 1972, decided should be composed of forty member states, Noting that, in its Resolution 3082 (XXVIII) of 6 December 1973, it reaffirmed its conviction of the urgent need to establish or improve norms of universal application for the development of international relations on a just and equitable basis and urged the Working Group on the Charter of Economic Rights and Duties of States to complete, as the first step in the codification and development of the matter, the elaboration of a final draft Charter of Economic Rights and Duties of States, to be considered and approved by the General Assembly at its twenty-ninth session, Bearing in mind the spirit and terms of its Resolutions 3201 (S-VI) and 3202 (S-VI) of 1 May 1974, containing the Declaration and the Programme of Action on the Establishment of a New International Economic Order, which underlined the vital importance of the Charter to be adopted by the General Assembly at its twenty-ninth session and stressed the fact that the Charter shall constitute an effective instrument towards the establishment of a new system of international economic relations based on equity, sovereign equality, and interdependence of the interests of developed and developing countries, Having examined the report of the Working Group on the Charter of Economic Rights and Duties of States which, as a result of the task they performed in its four sessions held between February 1973 and June 1974, assembled the elements required for the completion and adoption of the Charter of Economic Rights and Duties of States at the twenty-ninth session of the General Assembly, as previously recommended, Adopts and solemnly proclaims the following Charter:

PREAMBLE The General Assembly, Reaffirming the fundamental purposes of the United Nations, in particular the maintenance of international peace and security, the development of friendly relations among nations and the achievement of international co-operation in solving international problems in the economic and social fields,

Reaffirming further the need for strengthening international co-operation for development, Declaring that it is a fundamental purpose of the present Charter to promote the establishment of the new international economic order, based on equity, sovereign equality, interdependence, common interest and co-operation among all states, irrespective of their economic and social systems, Desirous of contributing to the creation of conditions for:

(a) The attainment of wider prosperity among all countries and of higher standards of living for all peoples;

(b) The promotion by the entire international community of the economic and social progress of all countries, especially developing countries;

(c) The encouragement of co-operation, on the basis of mutual advantage and equitable benefits for all peace-loving states which are willing to carry out the provisions of the present Charter, in the economic, trade, scientific and technical fields, regardless of political, economic or social systems;

(d) The overcoming of main obstacles in the way of the economic development of the developing countries;

(e) The acceleration of the economic growth of developing countries with a view to bridging the economic gap between developing and developed countries;

(f) The protection, preservation and enhancement of the environment, Mindful of the need to establish and maintain a just and equitable economic and social order through:

(a) The achievement of more rational and equitable international economic relations and the encouragement of structural changes in the world economy;

(b) The creation of conditions which permit the further expansion of trade and intensification of economic co-operation among all nations;

(c) The strengthening of the economic independence of developing countries;

(d) The establishment and promotion of international economic relations, taking into account the agreed differences in development of the developing countries and their specific needs,

Determined to promote collective economic security for development, in particular of the developing countries, with strict respect for the sovereign equality of each state and through the co-operation of the entire community, Considering that the genuine co-operation among states, based on joint consideration of and concerted action regarding international economic problems, is essential for fulfilling the international community’s desire to achieve a just and rational development of all parts of the world, Stressing the importance of ensuring appropriate conditions for the conduct of normal economic relations among all states, irrespective of differences in social and economic systems, and for the full respect of the rights of all peoples, as well as strengthening instruments of international economic co-operation as means for the consolidation of peace for the benefit of all,

the basis of sovereign equality, mutual and equitable benefit and the close interrelationship of the interests of all states, Reiterating that the responsibility for the development of every country rests primarily upon itself but that concomitant and effective international cooperation is an essential factor for the full achievement of its own development goals, Firmly convinced of the urgent need to evolve a substantially improved system of international economic relations, Solemnly adopts the present Charter of Economic Rights and Duties of States.