It is the object of the third United Nations Conference on the Law of the Sea to obtain broad international agreement on the limits to the territorial sea, on that area beyond these limits within which the coastal state may exercise rights over living and non-living resources and on the nature and manner of exercise of those rights. The Conference is also required to establish an international regime to deal with the exploration and exploitation of the deep seabed beyond the limits of coastal states’ rights. The work done by the Conference in five sessions since 1973 will have its effect on international law and practice but, partly owing to differences between the view-points of less industrialized and the more industrialized states (not confined to marine matters), the global solution essential for the orderly regulation of movement of shipping, scientific research and development of fisheries and sea-bed mineral resources may yet elude the Conference, to the detriment of the participating states and of the international community as a whole.