Abstract
The 1982 United Nations Convention on the Law of the Sea went into effect in November 16, 1994. This global treaty has been hailed as an ocean constitution as well as the threshold or battleground of the New International Economic Order. However, controversy has plagued its adoption by the industrialized nations and sparked animosity in the developed-developing North-South feud. An agreement has recently been negotiated which may consolidate universal adherence to the convention.My research will entail the analysis of the Agreement relating to the implementation of Part XI of the United Nations Convention on the Law of the Sea of December 10, 1982 concerning the controversial mining provisions in the "AREA", that is, the seabed and ocean floor beyond the limits of national jurisdiction. It will describe and explain the provisions pertaining to Part XI of the Convention. It focuses on what is objectionable to the United States and how the Agreement satisfies these objections.The focus of the research will be on the following questions: Does the Agreement fulfill United States ocean and mining interests? Assuming that the Agreement satisfies industrialized states objections, how will this affect developing countries' aspirations and expectations? Have developing nations relinquished some of the gains so enthusiastically pursued in the negotiations of the 1982 Convention, such as, financing of the Enterprise, transfer of technology, and production ceilings?The study is significant in that it involves consideration of scientific, ideological, political, and economic concepts.This dissertation argues that the Agreement relating to the implementation of Part XI of the United Nations Convention on the Law of the Sea of December 10, 1982 met the United States objections. It also suggests that the developing countries in their quest to obtain universal adherence to the Convention have surrendered some of the benefits they had obtained in the 1982 Convention. However, it further suggests that the developing countries' expectations of economic benefits from the exploitation of the resources of the Area are more likely to materialize with the implementation of the Agreement.