The interrelationship between the development of the New International Economic Order (NIEO) and the new law of the sea oceans play an important and rapidly expanding role in the economic life of nations, it is impossible to build an NIEO without including the oceans. The principles developed by the Sixth and Seventh Special Sessions of the General Assembly and the Charter of Economic Rights and Duties of States must be applied to States and to the international community in their activities both in the seas and on land, or no NIEO can come into existence
