28 July 1983

Permanent sovereignty over natural resources

The Economic and Social Council,

Recognizing the problems caused by the present international economic situation to most countries, in particular the developing countries,

Noting the importance for all countries, in particular the developing countries, to maximize the benefits from the exploration, exploitation and processing of their natural resources in order to strengthen their economic development,

Having noted the report of the Secretary-General on permanent sovereignty over natural resources and the comments made thereon by the Committee on Natural Resources at its eighth session,

1. Requests the Committee on Natural Resources to continue to discuss, at its ninth session, the question of permanent sovereignty over natural resources, including inter alia:

(a) Strengthening of national capabilities to finance and manage the exploration, exploitation and processing of natural resources for the national benefit;

(b) Promotion of investments in natural resources according to basic priorities;

(c) Identification of new possibilities for economic and technical co-operation among developing countries in the field of natural resources;

(d) Conservation of natural resources;

(e) Environment and natural resources;

2. Requests the Secretary-General to prepare a further report on the subject of permanent sovereignty over natural resources, taking into account the matters referred to in paragraph 1 above and the comments made by the Committee on Natural Resources at its eighth session;

3. Affirms in this context the importance of the ongoing work of the Commission on Transnational Corporations on a code of conduct for transnational corporations, as it relates to natural resources.