The President of Bangladesh, Ziaur Rahman, proposed to the United Nations General Assembly on Tuesday (26 August) a ten-point programme to lighten the economic burden of the poorest countries.
SV President of Bangladesh Ziaur Rahman speaking in English.
SV Rafael Caldera representative of Venezuela speaking in Spanish.
ZIA: "Let us not deny it, let us not find excuses for our inaction while we are sitting on a live volcano and time is of the very essence. It is particularly important that the views of the least developed countries are given careful consideration and that they are allowed to participate in the decision-making bodies of the UN on an equal footing. Special efforts must be made to develop the resources of such countries so as to reduce their vulnerability of external pressure and manipulations. Above all, it is essential that such countries should be allowed to build their own future without outside interference or intervention."
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Background: The President of Bangladesh, Ziaur Rahman, proposed to the United Nations General Assembly on Tuesday (26 August) a ten-point programme to lighten the economic burden of the poorest countries. At the centre of his proposals was a 50 percent cut in the price of oil sent by the Organisation of Petroleum Producing Countries (OPEC) to the developing world. President Zia made his proposals at a special session of the General Assembly discussing developing world economics. The President called for urgent reformation of the north-south economic structure, and said there was not time to lose.
SYNOPSIS: President Zia's call for political emancipation of the developing world was echoed in the speech Venezuela's was echoed in the speech Venezuela's representative Rafael Caldera delivered to the General Assembly. Ambassador Caldera said tat international justice was weighed in favour of industrial countries and the inequalities of the present economic order imposed a heavy burden on the poorer countries of the southern hemisphere.
Ambassador Caldera made no direct mention of President Zia's proposals and did not comment on the OPEC price cut. Venezuela is a member of OPEC, which has come under fire from industrial and developing countries alike for its pricing policy over the last decade. Venezuela is the world's third largest exporter of petroleum products. Following the latest government directives of crude oil preservation the South American state now produces 2 million barrels of crude a day, only half its output of 1970. Ambassador Caldera agreed in his speech about the need for a new economic order, but he did not discuss how OPEC countries might help its restructuring.