As a logical corollary to the policy of peaceful co-existence, they have sought co-operative solutions with the industrialised and affluent world to the pressing problems of economic development, reconstruction and transformation. But the response has almost always been slow and inadequate.
Although the moderate success of UNCTAD-IV has been a dim ray of hope in the otherwise deepening economic gloom, there is a notable absence of any significant and meaningful advance in the restructuring of international economic relations on the basis of equality, justice and mutuality of interests. No viable alternative to the policy of co-operation has yet emerged. This policy of co-operation should not, however, be mistaken as a sign of weakness. The question is not whether the developed countries can afford to help the developing countries. It is whether they can afford not to do so in this highly inter-dependent world of today.
Even more important for the non-aligned and developing countries is to increase co-operation among themselves. For the first time in modern history, developing countries possess unparalleled opportunities to rid themselves of the crushing burden of poverty, stagnation and under-development through collective self-reliance.
We have within our reach global resources, both human and material, which can enable us to meet the legitimate expectations of our people. To give only one example, if the balance of payments deficits of some oil-importing countries amounted to $45 billion in 1975, our oil-exporting partners from developing countries earned surplus of almost that amount. Amongst ourselves, we have the financial, industrial, technological and natural resources, which can meet much of each other's needs. We ought to give the highest priority in pooling these resources.