"All states have and freely exercise full and permanent sovereignty, including possession, use and disposal of all their wealth, natural resources and economic activities." Consequently, the above mentioned provisions lead the equatorial states to affirm that the synchronous geostationary orbit, being a natural resource, is under the sovereignty of the equatorial states. 3. Legal status of the Geostationary Orbit Bearing in mind the existence of sovereign rights over segments of the geostationary orbit, the equatorial countries consider that the applicable legal considerations in this area must take into account the fol 1 owing: a) The sovereign rights put forward by the equatorial countries are directed towards rendering tangible benefits to their respective people and for the universal community, which is completely different from the present reality when the orbit is used to the greater benefit of the most developed countries. b) The segments of the orbit corresponding to the open sea are beyond the national jurisdiction of states and will be considered as common heritage of mankind. Consequently, the competent international agencies should regulate its use and exploitation for the benefit of mankind. c) The equatorial states do not object to the free orbital transit of satellites approved and authorized by the International Telecommunications Convention, when these satellites pass through their outer space in their gravitational flight outside their geostationary orbit.
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