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Charter Of Economic Rights And Duties Of States

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Chapter Summary

This Charter was first proposed in 1972 by the former Mexican President Echevarria, at UNCTAD III in Chile. The Charter of Economic Rights and Duties of States was then adopted by the 29th regular session of the UN General Assembly on 12 December 1974. The Charter is structured in four chapters: Fundamentals of International Economic Relations; Economic Rights and Duties of States; Common Responsibilities Towards International Community; and Final Provisions. It contains four central concepts. First, it emphasizes the principle of sovereignty, territorial integrity, political independence and sovereign equality of all states. Second, it accentuates rights that comprise state sovereignty, regarded as inalienable: the right to choose the economic, political, social, and cultural system, and the right of sovereignty over the national resources. Third, it calls for far-reaching equality in international economical relations. The fourth group of principles states the demands of the charter in concrete terms.

Keywords: duties of states; economic rights; international community; international economic relations; right of sovereignty; UN Charter; UNCTAD III



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