Question

What is Charter on Economic Rights and Duties of State (ERDS) ? Explain the important articles of Charter on ERDS.

Answer 1

Charter of Economic Rights and Duties of States adopted by the UN General Assembly on 12 December 1974. The Charter consists of a preamble and four chapters, the most important of which are Chapter I relating to the fundamentals of international economic relations, and Chapter II on the detailed economic rights and duties of States. Chapter I contains general principles such as the sovereignty and equality of states and other principles, the adoption of which presented few difficulties to members of the United Nations Conference on Trade and Development (UNCTAD). On the other hand, the provisions of Chapter II, particularly article 2, were the subject of hard bargaining in which the negotiating states had to face some of the most controversial problems of international law in the economic field.

Answer 2

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